BLOODLESS VICTORY

Hauraki Plains Gazette, Volume 60, Issue 4342, 11 October 1950, Page 11

BLOODLESS VICTORY

TURUA WAR MEMORIAL

HOSPITAL BOARD DECISION

What was the minimum amount per share the Thames Hospital Beard would take for its 24 shares held in the Turua Public Hall Limited? asked a letter from the secretary of the company, read to the September meeting of the board. The letter stated that at a oublic meeting held in Turua on September 5 it had been resolved that the Hauraki Plains County Council be approached with the view to its taking over the hall under the Public . Works Act or the County Council Act, which gave it power to do so. The reason for the proposal was that residents desired to use the hall as a basis for a war memorial scheme.

The company had paid up capital of £l6OO and a total book value of assets of about £l2OO, said Mr A,. L. Neighbour, secretary of the hospital board.

The hall was built in 1'928 and cost about £9OO and he thought the shares were worth about £1 a share. Many shareholders had left the district, said Mr A. H. Sutton. Those shareholders would like to be relieved of their shares.

■Continuing Mr Sutton said that the idea was to get the county council to take over the hall and add 1 amenities so as to make it a community centre. The total cost would be about Many were offering to accept £1 for each share.

Mfr J. W. Neate moved that the shares 'be offered at £24 and the money used to furnish the Whitianga rest home for nurses.

That would be disposing of capital assets and the proceeds could not be so used, said Mr Neighbour. A resolution, upon the motion of Mr H. Denize, was carried that the shares be offered to the company at par and the money received be offered as a donation to the Turua war memorial' the chairman remarking that apparently it was. a bloodless victory for Turua.