OPERA HOUSE COMPANY.

New Zealand Mail, Issue 1262, 7 May 1896, Page 27

OPERA HOUSE COMPANY.

The ninth ordinary general meeting of tho shareholders of the Wellington Opera Bouse Company was held yesterday afternoon. Mr W. H. P. Barber (chairman of directors), in moving the adoption of the report and balance-sheet, which have already been published in the Times, said the capital of the Company was shown on the balance-sheet, to be the 'came as in previous years, viz, ■£14,530. The reason for this was that in order to give effect to the resolution recently carried by the shareholders reducing tho value of tho shares by 30s it was necessary to obtain tho consent of the Court, and the timo between the confirmation of the resolution and the close of the Company's iinancial year was not sufficient to enable this to be done. If the reduction of the shares hadboen given effect to before March 31st tho profit and loss account would show a credit balance of .£Ol9 Pis 9d. Tho result of the year's business had been of a fairly satisfactory nature, although the rent account did not shew as large a balance as last year, being .£IOOO, as against £2Ol-9 last .ye i.r, 'hut tle-y were able io show a surplus of .£029 on the year',, working, 'lhi.; result bad been achieved by a reduction in the working expense ,

principally on the interest account. Of the surplus mentioned of £029 !'.- sd, tho directors recommended that a dividend be paid at tho rate of I per cent, on £5 share.-, absorbing £5Bl Is, and that the balance of £43 5s '.d be ti an.-fcrrcd to profit and loss account. The position of flic Company was very different to what, it was a few years back, and ho saw no reason why they should not continue t;s a dividend-paying concern. 'J he report and balance-sheet were adopted. 'J lie retiring director*, Ale srs P.uber, Gilmer, Gale and Ga.-quoino were re-elected without opposition, and :Mes-.rs l.ymi and Jlarty were re-oh-.. led auditor at the same lemunoraliori (£5 5s < nchj a- las! yea--. .Mr Wallace recommended to ihedirecfo s that air Uaibi r, the chairm in. ;.hou!d n c< ive the sum of .125 as -ome n mumvation for the zealous manner in which he had carried out hi, duties. He added that if if had not been for Mr barber, himsclt an! s >:.-.e three or four others there would not h;,ve ben a dividend declared at that HKetin r. The Ch )-:;.an lliar.m d V.v v ; ;'■> ■ ;'< r >■'* wan entirely out of order. A vote of thanks to tin' chairman find directors was carried unanimni.i i-