HESSEY DREDGING COMPANY.

Wairarapa Age, Volume XXXI, Issue 9120, 20 June 1908, Page 6

HESSEY DREDGING COMPANY.

Masterton shareholders in the above will be interested in the following letter received yesterday by Mr J. Hessey from Mr W. E. E. Reid, of Dunedin: — j Dear Sir—The meeting of the Hessey Company was held last evening (June 16th). There were eight shareholders present. The Chairman (Mr Houston) reported as follows: — "That in the opinion of the Directors the payable portion of the Company's claim was now worked out and the directors had been unable to obtain another suitable claim. Nine hundred pounds is at present placed on deposit in the Post Office and Dunedin Saving's Banks and that after providing for all outstanding accounts to date the credit balance of the current account would be about £160." It was then moved by the Chairman, and seconded by Mr Brown, that the Company go into liquidation, this on being put to the meeting was -arricd unanimously. I was later on appointed liquidator at a fee. of twentyfive guineas. A subsequent meeting for confirmation will be held on Tuesday, July 7th, at 5.15 p.m. I placed your suggestion of paying an immediate dividend before your co-direct-ors, but after considering the matter decided that there would be no benefit to any one, and as the money was invested and earning interest, and if withdrawn there would be the loss of the interest. I know you will understand that as the money has all to go through my hands there will be less expense if the dividend is paid in one amount. J will not lose time after all accounts are in to get matters fixed up.