CANTERBURY AVIATION CO.

Hawera Star, Volume XLVIII, 30 June 1924, Page 4

CANTERBURY AVIATION CO.

SHAREHOLDERS LOSE 3s 6.1 d IN THE £, (BY TELEGRAPH —PRESS ASSOCIATION.) CHRISTCHURCH, June 27. Those shareholders who invested ill the Canterbury (N.Z.) Aviation Company, Ltd., made a loss of 3s 6-Jd in the £. The final business transacted by the company, which came into existence during the war period, and whose proper was acquired by the Government, ivas the reception” to-day of the report of the liquidators. It was stated they had realised the whole of the company’s assets, and had collected all moneys owing to the company, amounting to £24,941 4s 4d. The liquidator’s expenses amounted to £253 14s 4d, and the balance, amounting to £24,687 10s, equal to 16s sld in the £. had been returned to shareholders. The paid-up capital of the company was £300,000, and the losses from April to July 18, 1923, as shown by the balancesheet, were £5062 17s 7d. Mr. C. H. Hewlett (chairman) said! that the expenses had been cut down as much as possible. Every penny on ing had been collected. He added that the company had, been the means of establishing aviation in New Zealand. If the company had not started aviation it probably would not have been started for many years to come. It was derided to send to Hon. IT. F. Wigram a. letter of appreciation of his work and interest in aviation, members agreeing that the country was under a great obligation to him.'