BUSINESS DRAMA
END OF HOTEL CECIL AGED SHAREHOLDERS LONDON, Dec. 19. Shellme\\ Ltd., lias contracted (o buy Hie famous Hold (Veil, and is taking it over on June 30, when it ceases to he an hotel, for conversion into offices. The United Realisation Co., holds £200,000 worth of shares in the Hotel Cecil. The company was formed in 1896 hy sufferers in the Jabez Balfour crash of 1892. with a view to safeguarding assets. The shareholders' have met annually ever since, but it has never paid any dividend. It, so happens that tli.' last meeting WQfi held only on December 16, when the chairman remarked that, their only remaining asset consisted of the holding in the Hotel Cecil. Sbaieholders attending Monday's meetinsg consisted of a score of elderly men and women, the sole survivors of the 25.C00 original shareholders.
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Bibliographic details
Poverty Bay Herald, Volume LV, Issue 17143, 27 December 1929, Page 13
Word Count
139BUSINESS DRAMA Poverty Bay Herald, Volume LV, Issue 17143, 27 December 1929, Page 13
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