IMPROVING THE FORESHORE.

Taranaki Herald, Volume LXV, Issue 145997, 1 December 1917, Page 4

IMPROVING THE FORESHORE.

NGAMOTU SEASIDE RESORT, LTD. ANNUAL MEETING. The first annual meeting of the Ngamotu Seaside Resort Co., Ltd., was held at the Soldiers’ Club, New Plymouth, on Friday evening, Mr. J. W. Hayden, chairman of directors, presiding over a fair attendance of shareholders. REPORT OF DIRECTORS. Tho directors, in presenting their annual report, congratulated tho shareholders on the success achieved for the first year. The palladium and cottages were not available for occupation until December 26 last, consequently the revenueearning period was curtailed by two months. It was their painful duty to record tho death of thou- esteemed and capable auditor, Mr. Harry Stocker, who had always displayed a great interest in the welfare ot the Ngamotu beach. They recommended that the number of directors be increased from seven to nine. The retiring directors were Messrs U . T. Hockham and R. J. Deare, who, being eligible, offered themselves for reelection. The auditor, Mr, E. P. Webster, who retired in accordance with the rules, was again eligible for re-election. The balance-sheet was as follows: ■ ; I |

The chairman, in moving the adoption of the report and balance-sheet, said the company was unique from the fact that it was the first time that a limited liability company had been formed purely for the benefit of tho general public, and for this reason the directors had endeavoured to obtain a remission of the registration and other taxes payable to the Government by registered companies, but without success. To obtain the actual results of the first year’s efforts of the company he asked shareholders to take the balancesheets of the company and the seaside committee together, and they would find that a total gross revenue 0f1249 11s 2d accured in ten months, which, he thought, was an enormous amount of money to handle for a small hand of workers who had the welfare of the town at heart. The item on the bal-ance-sheet. loan £458 Is lOd. was, to all intents and purposes, the first step towards liquidation, and ns the loan increased so would the overdraft be reduced, and ultimately with the generous help of the public, the whole of the assets would revert to the seaside committee or, in other words, tho general public. As most of them were aware. Die directors and a few other gentlemen were severally and jointlv liable to tho extent cf £2999 to the bank for tho erection of the palladium and cottages, and it behoved every citizen of the town to help to reduce the overdraft as soon as possible. He thought bo could safely say that in less time than was estimated in the prospectus, tho whole of the assets would he free. He had heard it stated on several occasions that they were working for a dividend for tho shareholders. It was nuite correct that a 6 per cent, dividend might he paid, but it was not at all probable that it would bo paid, and even if it was, the largest shareholder would -receive the largo sum of 7s. During the year the directors received an offer of £6OO for the erection of several more cottages at 7 per cent., hut after a long discussion it was decided that their first duty was to release the guarantors’ liability, which meant that no more cottages would bo erected for some time. This was unfortunate, inasmuch as tho demand was simply enormous. Hundreds of applications had been pouring in from all parts of the North Island. Even this week letters and telegrams had come from Tniha.ue, Foildiug, Hawke’s Bay, and other places outside Taranaki.

Ho wanted to take this opportunity of impressing unon those present and the citizens of this well-endowed town, the immense possibilities they had for a first-olaso health and summer resort. The whole district was actually asking them to do it. Tho secretary would he pleased to show any person interested liis files of applications from people anxious to spend their vacation in New Plymouth. Tho only difficulty to overcome was the fact that tho residents had allowed the Railway Department to take away what is virtually the birthright of the town. He referred more particularly to that strip of land between the Belt and Bayly Roads, about a mile long. If this could be obtained for the boiough, seaside bungalows could be erected. an esplanade could be constructed, and plantations and other improvements made. In conclusion, bo would like to refer to the untiring efforts of their worthy secretary. Air. Ellis. He could assure shareholders they would not get the same results if they paid £2OO per annum. With him it was a labour of love, and Die success of the Ngamotu beach was almost entirely due to ms dauntless energy added to the fact that his heart was in Dio scheme for tho improvement of the foreshore. Air. G. Gray, in seconding the -.notion, said the result of tho first year’s operations of the company had been highly satisfactory. A great deal of snlendid work bad been clone, not with the object of making money, but to

create a greater interest on the part of the people in the foreshore, and to provide greater facilities for the future, j He maxlo special reference to the kindness of the guarantors, who had made it possible for those improvements to be carried out. and expressed the opinion that they should have some representation in the company. Mr. J. D. Sole, Mr. R. V. Hughes, a.nd other shareholders joined in congratulating the company upon the results of its first year’s operations. The report and balance-sheet were approved. ELECTION OF DIRECTORS. It was decided to accept The recommendation ot tue directors to increase luo number of directors from seven to nine, ana Messrs. W. E. Bendaii and G. G. VVaa-d were appointed, llie retiring ducolors, Meoois. liookham and Guam, were re-e.ected. Mr. it. i'. Wooster was elected hon. auditor of the company tor tne ensuing year. on the motion of Mr. W. C. Weston, seconded uy Mr. Hughes, a very hearty vote of tnauks was accorded tne directors, secretary ami auditor tor tno.r services unnng tne past year. Mi - . Wes Lou rererreu to tue splendid work which had been done by tne directors and officers of tne company, ft was due to tneir untiring energy that such splendid results had been achieved, special reference was made of the work of the secretary, AD'. R. 0. Eilis. Several shareholders endorsed Mr. Weston’s remarKs and expressed the opinion that lie should receive some recognition of those services. He had devoted a great deal of time to the affairs of the company and done an immense amount of work. Mr. Eilis thanked shareholders for their kind remarks and said ho was g:ad that his services had been appreciated. There were other members of the company, however, who were doing just as much work and lie declined absolutely to accept anything in the form of a gift or presentation. On the motion of Mr. E. R. Webster, seconded by Mr. R. J. Deare, a very hearty vote of thanks was accorded Mr. Ellis, and it was also decided to place on record the shareholders’ appreciation of uis work. d NGAMOTU SEASIDE COMMITTEE. The annual meeting of the Ngamotu Seaside Committee was held subsequently, Mr. Hayden presiding. The balance-sheet for the year ended October 31 was as follows: i i

The Chairman, in moving the adoption of the balance-sheet, congratulated the society on the splendid achievement of the last twelve months. The picnic receipts for the three years had been respectively £4B, £llß and £3BO, for which they were largely indebted to the improvements erected on the beach and of course the advent of the trams. The only revenue that had decreased was donations (£ll 17s Bd), which was far and away .the smallest amount they had received since they started. On the other hand the committee had raised over £l5O for the patriotic funds. The war had, in common with other kindred societies, made serious inroads on thoir members, several of whom had made the supreme sacrifice. In one case three of their original members who camped together for years before this society was thought of and were amongst the best workers this committee ever had, enlisted soon after the outbreak of war and all three had since given their lives for their country. Two of them were mentioned in dispatches. He thought it was quite time a memorial fund was commenced for those who had given their lives in this great war and he would suggest a kindergarten similar to the one in Auckland presented to that city by Mr. Myers, or some other permanent structure wortbv of the sacrifice tbev bad made. Another loss sustained during the year was the death of their esteemed friend Mr. Harrv Stocker, who was alwavs to the fom in all the society’s activities. His genial manner was responsible for manv an e-Hra effort, towards the end of a bard dav and tbev would alwavs remember him in the future. In conelusion he had to thank all those gentlemen who had com© forward and helned the society on nicnv davs, and wo”ld remind them that tbev bad the satisfaetion of knowing that tb"v had rlnne some good work in the welfare of ■fhrir fr"ow-eitirens. Mr. W. F. Short seconded and the motion was carried. ELECTION OF OFFICERS. Officers were elected as follows for the ensuing year:—President, Dr. E. A. Walker; vice-presidents, Mr. 0. H.

Burgess, Dr. Blackley, Mr. G. A. Cornoy, Mrs. E. A. Walker, Messrs. W. Weston, H. Do Launey, B. May, J. M'Lcod, G. Young. J. Hawkins, P. H. J. White, W. J. Penn, L. B. Webster, W. H. Cook, H. Okey, D. K. Morrison, W. J. Honeyfield, R. Clemow, A. Thompson, J. Abbott, J. H. Quilliam, P. Jackson, R. Cock, Dr. Fookes, Messrs. A. Goldwater, J. D. Sole, H. Brookman, T. C. List, J. Connett, Mrs. A. Paul. Messrs. T. Knowles, E. P. Webster, P. Lealand. W. M. Falconer, ,E M'Cluggage, D. J. Hughes, H. Fowler, J. Patou, J. M'Millan, F. J. Hill, E. Bayly. J. B. Roy, J. C. Nicholson, L. A. Nolan, Newton King, A. Shuttleworth. M. Holah, J. Avery, H. W(illton R. H. George, Dr. H. B. Leatham, Dr. Paget, Messrs. G. Smart, F. S. Johns, W. H. Moyes, T. Young, S. Toed, Captain Waller, Messrs. C. B. Bellringer, C. A. Wilkinson, M.P., J. Corrigali, G. Pierce, T. G. Hirst, and H. R. Billing.

Messrs. C. O. Ward, G. Gray, R. J. Deare, W. T. Hookham, J. T. M'Quade, R. O. Ellis, J. W. Hayden, and TV. F. Short were appointed an executive committee. Mr. J. W. Hayden was re-elected chairman and the following sub-com-mittees were elected:—Grounds Committee, Messrs. W. E. Bendall (con venor), F. Morshesd, J. T. M'Quade, W. F. Short, and Thorne; Cottage Committee, Messrs. O. C. Ward, li. J. Deare. and J. C. Morey. Mr. Ellis was re-elected secretary. GENERAL. The meeting then discussed matters in connection with the New Year’s Day picnic, the programme for which promises to bo more attractive than over. . A vote of thanks to the chairman terminated the meeting.

LIABILITIES. £ s. d. Authorised capital, £5000 shares of £1 each 5000 0 0 Less unallotted shares 1785 0 0 Subscribed capital 3125 U 0 Less uncalled 2732 15 0 Less unpaid 10 0 0 472 5 0 Npnmntu Seaside Committee loan 458 1 10 Sundry Creditors 57 10 0 Rank of Australasia 1117 o 11 Cheque outstanding 27 10 0 £2132 12 9 Contingent liability palladium 742 0 0 ASSETS. £ s. d. Buildings 1703 4 0 Furnishing 148 14 9 Plantation and grounds ... 132 1 11 Bathing costumes and towels 12 9 9 Amusement devices 22 10 0 Stock in hand 5 19 5 Cash in hand 7 13 10 Profit and loss account ... 9 19 1 £2132 12 9

RECEIPTS. £ s. d. Balance in bank 37 10 2 Cash in hand boginning year ■ 4 4 6 . 11 17 6 Picnics 380 14 7 Launch rattle, Red Cross ... 51 2 0 Rentals cottages and onethird rents . 102 IS 2 6 0 Borough Council Grazing and stall permit ... 25 2 0 10 0 0 Refunds— ? 10 0 Ngamotu Resort Co., Ltd. , 16 6 0 1 5 9 Prizes 3 0 0 Sundries 0 6 0 £645 8 8 PAYMENTS. £ 6. d. Picnic , 78 i 1 Improvements . 4 6 1 Rod Cross — Advertising . 6 V C Sundries 1 b 8 Fund (See.) , 43 9 3 Advertising . 8 14 2 Repairs cottage 1 6 CaTtage , 4 2 6 Borough water rate 10 0 Fees formation Ngamotu, 0 Ltd . 16 6 1 1 2 Sundries . 3 1 6 Loan to Ngamotu Seaside 10 Ltd . 458 1 15 4 6 0 16 4 £646 8 8

LIABILITIES.—Nil. ASSETS. £ S. d. Cottage No. 1 (“High Ji?ks”), valuation 50 0 0 Cottage No. 14 (“Polite”), •valuation 70 0 0 Cottage No. 26 (“Breakers”) valuation 100 0 0 Store room 25 0 0 Loan to Ngamotu Seaside Resort Co.. Ltd 458 1 10 £703 1 10