TEMPERANCE HOTEL COMPANY.

Lyttelton Times, Volume LIX, Issue 6871, 8 March 1883, Page 5

TEMPERANCE HOTEL COMPANY.

The adjourned annual meeting or the Temperance Hotel Company (Limited) was hold last nigh!. There was » fair attendance, and Mr fl. W. Packer (Chairman of Directors) presided, and opened the proceedings by stating that the business of the meeting una to receive the balance-sheet, which had now been audited by Mr Buckland. The balance-sheet showed the expenditure on ths Hotel working account, 18S2, of £3423 3s 2d, including interest on loan £39718* id. The income showed £3031 13* lOd, leaving a low of £391 9a 4d. Tho liabilities showed a total of £14,430; and th<? assets wore estimated at £12,863 j showing a balance of £ISB7 B#. *

Mr M'Grogor moved the adoption of tho balanse-shect.

Mr Hooper seconded the motion. Mr Gray asked whose fault it was thai tb* account! had not been audited in time for the annual meeting. Tho Chairman replied that the auditor declined to audit the accounts of the year without going through tho«e of the previous year, as there were discrepancies that could not be other wise adjatted. The book* had been opened m au erroneous manner, and the account* had been audited last year without their being corrected. Some discussion took place as to the details of items in the account, and it was pouted out that the value of the site had increased considerably since the hotel started, to that this could be set off against apparent lon, MrC. M. Gray attributed the loss to defective management, and would more pre* tently:—" That it be a recommendation to the Direction to take into consideration the advisability of advertising for tenders for leasing the property." Ms Webber had brought before the Director* a similar proposition j he would support Mr Gray's motion. Mr Hooper thought it very inexpedient! to interfere with the present management which was trying to make the hotel a success, The last two months showed a profit, and the present manager should be given % fair trial The motion was brought forward he feared from personal motives. The Chairman explained that the only mo* tion before she meeting was that for the adoption of the balance-sheet. Fe might state that January of this year showed a con* siderable profit, while February showed a loss. The trade was evidently very fluctuating. Considerable farther discussion of a conversational character ensued, at the close of which the adoption of the balance-sheet was carried unanimously. The Chairman then called upon Mr Gray to move his resolution.

Mr H. Bennetts raited a point of order. A question of suoh importance should be made known to shareholders by advertisement, and not be brought forward at a meet* ing like the present. The Chairman ruled that the resolution could not be moved. There would, however, be no harm in an expression of opinion being taken.

Mr Gray had intended only to moTe the resolution as a recommendation. Mr Glanville seconded the motion. The Chairman explained that the resolution was quite informal. Mr Hooper reiterated his objection to the resolution, which should be postponed at any rate till the Company oould show a better balance-sheet.

Mr Grant doubted the expediency of the motion.

Mr Buckland opposed the motion. He believed the hotel would pax. The Directors had already given an immense amount of time to the establishment, and if they would continue to give their services, and the management remained good, the whole of the loss at present shown would soon be wiped out.

Mr H. Bennetts recommended patiecce. People should not expect to reap as toon as they had done sowing. A great deal of advertising had recently been gone in for, and the result of that must be waited for. After some further discussion the resolution was put and lost.

A vote of thanks to tho Chairman closed the meeting.