Poverty Bay Park.
The third annual meeting of the Poverty Bay Park Company was held on Friday evening. Present: Messrs Maude (Chairman), Cannon, Nasmith, Maynard, Hepburn, Taylor, Thomson, Score, W. O. Skeet, McLoughlin, F. Hail, Gallagher, J. Finlay, Matthewson, Tuohy, Whitby, Piesse. Price, W.L. Hall, W. Parnell, Adair, Adeane, T. Copper, Dickson, Sawyer, and W- Devery, The report and balance sheet was read and adopted. The Directors congratulated the shareholders on the success of the year’s operations, the mortgage on the land having been reduced by a further sum of £3OO, leaving that indebtedness only £l2OO. The grounds had been considerably improved, and it was expected they would soon be very attractive for public gatherings. The net profits for the year were £214 2s, which, with the balance from previous statement, after paying interest to the members at the rate of ten per cent, made a total of £424 Us 4d standing to credit of profit and loss account, which amount was recommended to be carried forward. The result of local option poll, it was regretted, precluded the erection of an hotel on the grounds for the next three years. The assets were shown to be £5,229, and the capital £5,000 of which £3.524 5s has been called up. The total disbursements during the year was £1,487 17s It was resolved that the number of directors be the same as previously. The following gentlemen were then elected to the vacancies : Messrs Finlay, Cannon, Tuohy, Matthewson, Gallagher, and Plice. At a subsequent meeting of the Board, Mr Maude was re-elected Chairman, Messrs W. L. Hall and W, Parnell were elected auditors. Mr Matthewson made a few remarks on the hopeful aspect of affairs, and commented upon the businesslike tact and ability the Chairman had shown in conducting the affairs of the Company. The Chairman addressed the meeting, speaking in a very hopeful strain on the future of the district, and the good prospects of the Company.
The usual compliment to the chair terminated the meeting,
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Bibliographic details
Gisborne Standard and Cook County Gazette, Volume IV, Issue 600, 28 April 1891, Page 3
Word Count
334Poverty Bay Park. Gisborne Standard and Cook County Gazette, Volume IV, Issue 600, 28 April 1891, Page 3
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