NAPIER GRAMMAR SCHOOL.

Hawke's Bay Herald, Volume XXI, Issue 5677, 1 May 1880, Page 2

NAPIER GRAMMAR SCHOOL.

The annual meeting of the Napier Grammar School Company was held yesterday afternoon in the Council Chamber. Present — Mr J. D. Ormond, M.H.B. (in the chair), the IJev. D. Sidey, Mr Sutton, M.PI.R., Messrs Neal,Tabuteau, Kinross, Miller, Chambers, Lyndon, Tanner, Holder, Beamish, Bygum, and N. Williams. The Chairman stated the circumstances' that had led to the appointment of Mr W. E. W. Morrison as head master of the school, remarking that the necessary delay in making arrangements for carrying on the school after the hey. D'Arcy--Irvine's resignation had naturally had its effect on the attendance. At the request of the directors the secretary had written.; to the Rev. W. Marshall, asking him if he would compound the annuity payable to himself and. Mrs Marshall, so as to release? the company. In reply, a letter had been received from the Hon. J. N. Wilson — ■ Mr Marshall's solicitor — refusing to take a lump sum .in lieu of the annuity. A letter had also been written to Mr Lyndon, agent for the Church of England Trustees, asking ~ their consent to the sub-letting of a portion of the land the company held, for a term longer than their leaso permitted. In reply to that a letter had been received from Mr Lyndon, deferring any definite answer to the company's proposal until the return to Napier of one of the trustees who was at present absent. The following report from the directors of the company was laid on the table : — In presenting the eighth annual report and - balance-sheet of tho Napier Grammar School Company, limited, to the shareholders, your directors regret that the agreement with the Key. D'Arcy Irvine to rent the school premises, and carry on the school on his own account has fallen through in consequence of his resignation and departure to Australia. This having occurred immediately after the Christmas quarter left very little time to make other arrangements, your directors were compelled, in the endeavor to keep the school together, to procure a teaching staff j and they are happy to say that, notwithstanding tho short notice, they were c successful iv engaging the services of Mr Wilson W. E. Morrison, 8.A., of Oxford, whoso testimonials, both English and colonial, arc of a very high order, as head master. Your directors have not yet, however, seen their way to appoint a second master, tho attendance of pupils having been, from various adverse causes, not sufficient to warrant such an appointment. Your directors have, at tho same time, kept steadily in view the desirability of terminating tho company's liability in respect to both annuity and. ground rent, but their efforts have as yet been unsuccessful. Nevertheless, endeavors to that end are still going on. With a view of presenting to the shareholders what position the company would bo in at the termination of the financial j-eav ending 316t March ISBO, provided things go on as at present, a statement of receipts and expenditure for that time will be submitted to you at the general meeting, from which it is evident that a further call will be absolutely necessary. In the absence of Mr Tyke, who has gone to England, your directors appointed the secretary to act in the capacity of treasurer, also until you should have an opportunity of making other arrangements, should you think fit. ■ Mr Lyndon lias again kindly act&l as auditor of the accounts and balance-sheet. J. D. Ohmoxd, Chairman.

5 The balance-sheet for the year ending the 31st of March was also laid on the table. It showed that there was a balance in the bank to the credit of the company of £82 Is Id, against which there was A 155 16s Scl clue to Mr Morrison, the master of the school, besides other liabilities, amounting altogether to £107 9s lOd. The assets, in addition to the balance in the bank,, consisted of £94 unpaid calls, and £85 os school fees due. making together £261 6s Id. On the motion of Mi* Millor, seconded by Mr Williams, the report and balancesheet were adopted. The Chairman read an estimate of the revenue and expenditure for the year ending 31st March next. The revenne was estimated at £433 6s 3d, comprising the balance of assets over liabilities of the expired year £153 6s 3d, and school fees £280. The expenditure was estimated at £592 103. which left a deficiency of £169 3s 9d. After some little discussion it was resolved, on the motion of Dr Spencer, •seconded by Mr Tabuteau, that tho directors be authorised to make a call of £1 per share during the current year. Air Tanner moved that tho directors be requested to instruct their solicitor to collect, and if necessary sue for, the un- - paid calls forthwith. 'The motion was seconded by Mr Tdbutoau and carried. iMr Tanner moved that tho further con- ' sideration of the position of tho Company

be deferred, and n meeting of the shareholders be called, shortly after the commencement of tho next quarter ; the date to bo fixed by the directors. The meeting then terminated.