THE EXHIBITION COMPANY.

Otago Witness, Issue 3782, 7 September 1926, Page 5

THE EXHIBITION COMPANY.

FIRST DIVIDEND OF 12/6

The following interim report has been submitted to shareholders by the directors of the New Zealand and South Seas Exhibition Company:— “The accounts show a loss of £15,080 4s lOd on the whole operations of the Exhibition up to July 19. but this will be further increased by the expense of liquidation and affected by the settlement of certain claims now under consideration, the principal of which is that made by the City Council in respect of removal of roads and pathways from Logan Park in the terms of the lease granted to the company by the Otago Harbour Board. “The first dividend of 12s 6d per share, being part refund of capital declared by the liquidators, will reach shareholders, together with this report, and it is hoped that ultimately the accounts will permit of a further dividend, making up a total of at lesat 15s in the £, but that of necessity depends upon the terms of settlement of matters above referred to or arising from at present unforeseen sources. “On completion of the liquidation, a further meeting of shareholders will be called to consider the final accounts, and it is hoped that it will be possible to convene this meeting early in January, as it is expected the final dividend will be available for distribution during December.”

The sum paid to shareholders by the distribution of the interim dividend is a little over £50.000.