WELLINGTON PATENT SLIP COMPANY.
SPECIAL MEETING. (Per I'rkss Association.) Wellington, January 18. At a special meeting of tho I'utonl Slip Company, tlio Chairman announcod that nt tho omi of March tho Government subliidy of .£2150 per aiiuuu.\, which had in accordanco with tho original contract been receivod for 2 1 years, would expire and the Company wuuld have to make other arrangement. Instead of paying shareholders tho annual dividend of 7 por cont. tho Company had paid only 5 per cent , the balance to be placed on deposit, which n«w amounted to X 10,000. The propo:al of the directors was that shares should be reduced in order from £10 por share to £3 per share. At the same tinio it was proposed to pay shareholdora at tho rate of £3 por sluro out of Ui« JK 10,000 mentioned, so they would receive £Ci for each .£lO share. With a roducod Company they would bo ablo to go on paying dividends at tho saino rate as hitherto. In order to givo effect to tho above the shareholders to-day passed a number of special resolutions.
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Bibliographic details
Wanganui Chronicle, Volume XXXVIII, Issue 11518, 19 January 1894, Page 2
Word Count
183WELLINGTON PATENT SLIP COMPANY. Wanganui Chronicle, Volume XXXVIII, Issue 11518, 19 January 1894, Page 2
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