LANCASTER PARK COMPANY.

Star (Christchurch), Issue 4400, 1 June 1882, Page 4

LANCASTER PARK COMPANY.

♦ ! The annual general meeting of the shareholders of the Cricket and Athletic Sports Ground Company was held at the City Hotel last evening; present—Messrs A. Craoroffc" : Wilson (in the chair), Manning, Gorfe, Con* del], Ootterill, |Parkinson, Sutherland, F. Wilding, F. Jones, and A. M. Ollivior (eeoretaryj. ANNITAI> .3EPOBT. Aftor the. confirmation of the minutes of. the previous meeting, tho Chairman read the report of the Directors and the balancesheet, which Bbowed a credit balance in .the Bank cf New Zealand of £322 11s 4d. The report was as follows : — " Your Directors have .now to submit to the shareholders, the balance-sheet for the; year ending May 31,1882, and in so doing, congratulate them on the possession of a cricket ground, in the opinion of the best judges, eeoond to none ia the Colonies. The Pavilion is almost finished, and will probably be handed over by the contractors at at early date. It is carefully planned, and well adapted for the purposes for which it was erected, every requisite having been attondod to. The turf, although a very 'trying season has bsen experienced, is in exoollont condition, and promises well for tho ensuing season. The remainder of the shares, numbering 102, out of tho original total of 450, have been issued in accordance with tho wish of tho shareholders, expressed at the last annual meeting. The uncalled capital of the Company therefore stands at 450 .chares at £5, equal £2250. The actual expenditure has been £4986 3s 3d. The actual liabilities amount to £6519s 9d. To meet this, funds have been obtained thus: — Borrowed on mortgage, £4000; capital called up, ££250; .. further call of 30s per share, due June 1, £675. The total cost of the ground, with improvements, has exceeded considerably the estimates originally submitted to the shareholders, but very little further outlay may now be looked forward to. Tho ground hao been available for the purpose of cricket Bince about Nov. 1, and during tho Boven months that have elapsed from that time, the profit and loaa account shows a credit balance of £122 6b 4d. This amount, although equal to a dividend of 8 per cent per annum, your Directors recommend should beoarried forward to profit and locs new account. Two of your Diractors, the Hon B. 0. J. Stevens and Mr A. Oracroft Wilson, retire in accordance with the Articles of Association, and offer themselves for re-election." The report and balance-sheet were adopted. ATTDITOB. Mr J. Henderoon was, in accordance with tho rulea of the Company, appointed auditor. DIBBCTOBS. Tho Hon E. 0. J. Stovenß and the Chairman were re-elected ac Directors. Mr Wilding id proposing that a hearty vote of thanks bo given to Mr A. M. Ollivier for hia ablo and energetic discharge of tho onerous duties of Hon Secretary to tho Company, and that he be asked to accept an honorarium of thirty guinea* as a slight token of the high appreciation felt by the Bhareholders for his services, eaid that it wqs tlmost unnecessary for him to say a word in support of the resolution he had moved. They ell know that through tho labour and skill of '

Mr Ollivier the ground had been brought to its present capital condition. > In moving for this slight recognition of Mr Ollivier's services he wished it distinctly understood that ho did not regard it in any way as payment for his past services. He trusted the shareholders would look at the motion in the same light, and with the samejspirife as actuated him in moving it. Mr Oorfe seconded the motion in a few words relative to Mr Ollivier's past services. Tho motion was then put and carried unanimously. Mr Ollivier said ho could only express his obligations for their kind opinions of his services and the manner in which they had recognised them. It had been a pet scheme of his to have this ground in the order it now was for years, and at last it had been successfully carried out. He was of opinion that the ground should have been purchased when land w*s cheaper, but -still he believed the money had been well invested. In a few years he felt thoroughly satisfied that instead of a dividend of 8 per cent, the Directors would be enabled to announce one of between 25 and SO per cent. He heartily thanked the Directors for the great assistance they had rendered him; and also the shareholders who had always given him every support. (Applause). Mr Wilding proposed, and Mr Manning seconded— "That this meeting suggests for the consideration of the Directors that in view of the recent resolution passed by the Cricket Association in favour of establishing a cup competition by Canterbury Cricket Olubs, it would be advisable for the Company to offer to present a trophy to the Association, to be competed for on the Lancaster Park Ground subject to regulations to be drawn up by the Crioket Association." The resolution wa> carried ; only one member dissenting. After passing votes of thanks to the Directors and to the Chairman, the meeting adjourned.