NEW ZEALAND & RIVER PLATE LAND MORTGAGE COMPANY.

New Zealand Herald, Volume XXVIII, Issue 8535, 8 April 1891, Page 5

NEW ZEALAND & RIVER PLATE LAND MORTGAGE COMPANY.

The eighth annual meeting of the colonial shareholders of the New Zealand and River Plate Land Mortgage Company was held yesterday at the offices, New Zealand Insurance Buildings, Sir F. Whitaker, presidont of the New Zealand Board of Directors, in the chair.

The report of the London directors, submitted at the annual meeting there in January last, was laid on the table, with the balance-sheet and a report of the proceedings. On the motion of Mr. T. Peacock, seconded by Mr. Goulstone, Mr. T. Buddie was re-appointed to the local directorate. Sir F. Whitaker was also re-elected a director on the motion of Mr. Weston seconded by Mr. Clayforth* Mr. J. L. Wilson moved the re-appoint-ment of Mr. Boardman as auditor for the current year at a fee of £15. The motion was seconded by Mr. Lkighton, and agreed to. . Mr. Peacock asked if the directors could give any more recent information with regard to the affairs of the company, especially in the Argentine Republic, than was contained in the report and other documents which had been laid before the shareholders at that meeting. The Chairman said there was no information beyond that contained in the report. Mr. H. Green asked whether it was lawful to pay the interest in the Argentine Republic in the currency of the country. The mortgage bond might state that it was payable in gold, yet an Act might be passed permitting the interest to be paid in the currency, which , would, be very much depreciated, and thus the investments in that country would be affected. The Chairman explained that the mortgages were payable in gold, and gold only. Sir F. Whitaker went on to point out a curious fact, that the revolution and its consequences in the Argentine Republic had not in the slightest degree affected the interests of the company. The money was paid six months in advance, and there was only one arrear.