WELLINGTON OPERA-HOUSE.

Evening Star, Issue 9699, 7 May 1895, Page 4

WELLINGTON OPERA-HOUSE.

At a meeting of the Opera-house Company yesterday a satisfactory report was presented. On the appointment of auditors being put to the meeting, Mr J. M‘Lellan said that the question of the auditing of private or public companies was a matter of grave moment. Companies put too little value upon audits. Generally it would be a good thing if a public auditor were employed by all companies—not this company more than any othey. He was not casting any reflection upon the audit of the auditors of the past, but he thought it \vas only right that a public company such as this should have public auditors. They had now in New Zealand an Accountants’ Association, and they should assist that Association by employing their members. The directors more than the shareholders ought to consider this question. After a brief discussion it was proposed that Messrs H. M. Lyon and T. K. Harty be reappointed auditors. Another two were also proposed. The show of hands resulted ; H. Kember 13 Lyon 9, D. T. Stuart 9, and Harty 5, A poll was demanded, which resulted in favor of Messrs Lyon and Harty. The balancesheet showed that the company had been enabled to reduce the debit balance by £826, which is a larger reduction than any previous year, and equal to over 54 per cent, cf the capital of the company. The Board are arranging to pay off the mortgage on the property by the issue of 5J per cent, debentures.