Page 14 Advertisements Column 2

Otago Witness, Issue 1856, 17 June 1887, Page 14

working men,* whose means' will 'not ! admit ' of heavy outlays, 'can ■ thus afford to vhave '' the time. 1 The Manchester- Examiner 'sums up an article published on the 22nd 'December • as ' follows :— " The ■ Watbbbuby- is ' a splendid- timekeeper. • We "have* 'subjected it to tests few watches can endure^" and similar statements have emanated from the leading English-speaking journals all over the world. It matters not whether the . Watebbuby^ falls ' into the hands of- the merchant or gumdigger, the banker or the miner, the shipowner or the - stoker, the employer or-the employee, the report < is the same— it is dust-proof' and water-proof, ; accurate because" simple and constructed on correct principles ; too strong to derange and too cheap to be without.' > It is welcome alike in palace and cottage, and no invention of modern time hits done so much to 'inculcate habitual' punctuality, as the " Watebbttby""— the Prince ■ of Watches. - Price, 13s 6d ; by registered post, i 14s 3d.

N. Z. HARDWARE CO., CUMBERLAND STREET, „Ddnewn. , ' ,

— ■— — — — —^^— M— — I WAIMEA PLAINS RAILWAY COMPANY. / ' . The annual meeting of the shareholders of the Waimea Plains Railway Company was held ' at the office of the company in "Bond street on Monday. Mr N. Y. A. Wales occupied 'the chair, and the following shareholders were present: — Messrs R. Wilson, D'Arcy Haggitt, G. ,W. Eliott, J. Mitchell, J. T. Mackerras, Keith, Ramsay, and J. Roberts. ' ""'" "' The following report was submitted to the meeting:— .' ' '* The .directors beg to present to' the shareholders the annexed statement of accounts for the 12 months ending the 31st day of March 1887,' duly audited. At the "extraordinary meeting of the company held on the 25th October last, the directors reported the : result of their negotiations for the sale of the railway, and obtained- the 1 sanction" of the shareholders to a contract selling tbfl property to the' Go- • vernment at a price equal to £106,000, the company to forego half the four years' rates (say #7745 Is 3d), thus virtually reducing the price to £98,254 18s 9d. It will be remembered that the directors declined to recommend a sale on these terms. The New Zealand Agricultural Company (Limited), however, agreed, in consideration, of a sale being effected, to convey to the company land to the value of about £2000, being equal to about one-fourth of the four years' rates payable by the Agricultural Company previous to ' the sale. The land appears among the assets in the < balance-sheet. Thejloss by the sale, after debiting the line with the half rates, amounts to £8383 7s 4d. In accordance with the contract of sale, the line* was worked by the company on behalf of the GoTernment as from 31st March 1886 to the 13th November last, when the Government entered into possession. In order to enable shareholders to estimate the probable amount of the loss, the directors have deducted £1000 from the book value of the land and the unpaid rates, to provide for loss on realisation and the expenses of winding up the company. Should this provision prove sufficient, the loss will amount to about £1 18s per share, subject to adjustment of accounts between shareholders, by. charging of interest on calls in arrear, from time to time, which will diminish the loss to those shareholders who paid promptly, and inorease that to those whose calls were in arrear. It will be the duty of the meeting to elect three directors in the room of Messrs Q. M. Bell and T. S. Graham, who have ceased to be shareholders, and Mr N. Y. A. Wales, who retires by rotation, i Mr Wales'is eligible, and offero himself for re-election. The! auditor, Mr Thomas Callender, also retires, and offers himself for re-election. * The! directors propose to call an extraordinary general meeting at an early date for the purpose of passing a special resolution to wind up the company.; The Chaieman, in moving the adoption of the report, said this being the date of' the ordinary annual meeting, it was thought desirable that it should be hold to keep the forms of the company good. The line had been sold to the government, and the negotiations closed. The only thing that remained to be done was to get in; the rates and sell the land that belonged to the company. The secretary -experienced great, difficulty in getting rates in, and nearly the whole of the ratepayers had been summoned. The directors would like to be advised with regard to what was the best thing to be done ' with the land with a view of speedilj winding matters up. The motion for the adoption of the report was carried unanimously. Mrj Wilson moved — "That the number of directors be reduced to five." Mr Ramsay seconded the motion, which was carried. On' the motion of Mr Robebts, seconded by Mr Mackebbas, Mr Wales was re-elected a director. The matter of dealing with the land was left in the hands of the directors.

— " Bridget,' did you get the flowers that I am to wear to-night in my hair 7" "Yes, mum,' but"-; — " But what ?" • " I've mislaid the hair, mum," — Texas Sittings. '