HOTEL MIDLAND.

Wairarapa Daily Times, 28 April 1927, Page 2

HOTEL MIDLAND.

ANNUAL MEETING OF COMPANY. The annual mooting' of shareholders of the Hotel Midland Company was hold yesterday. Mr David Ogilvy (chairman of directors) presided oyer a fair attendance of shareholders. The report and balance-sheet as submitted were adopted on the motion of the chairman, seconded by Mr 11. P. Hugo. Messrs T. F. Watson, A. Donald and 11. P. Hugo were re-elected to- the ’board of directors. Mr X. 11. James was re-elected auditor. The chairman, in proposing the adoption of the report and balance-sheet 'dealt with the past operations of the hotel and tho present position and prospects of the company, and said that the results of the past year’s trading were not as satisfactory as he would have liked to sec them. Until the revenue account from board and residence showed a considerable improvement, there was not much prospect of a better return. It should be remembered that trading conditions in New Zealand had been anything but bright for some time past, and that the company had suffered accordingly. The total expenditure for the year, including salaries and wages, amounted •to £7115 ICs Id, as against £7426 13s lid, being a decrease of £290 17s 9d, as compared with last’year’s figures. The principal cause for an increase of nearly £l7O in the cartage and general expenses account wate that the bulk of the hotel laundry was being done out of Mastcrtou, there being no proper drying facilities at the hotel. Arrangements were shortly to be made to have the whole of the laundry work done in Masterton, at a considerable saving to the company. The revenue from board x and residence amounted to £7177 Os Id, as against £7435 14s Id, being a decrease of £258 13s 2d as compared with twelve months ago. Wages paid amounted to £2174. Observing that the revenue figures were disappointing, the chairman asked shareholders not to be discouraged, as better times might yet prevail. The Midland Company had been exceedingly unfortunate from its inception, and had never really recovered from the serious loss in the first year of operation, when it was overtaken by the slump of 1921. The past year had been a lean one, and they were passing through one of the most trying periods in the history of New Zealand. In concluding, Mr Ogilvy referred appreciatively to the services of the manageress (Mrs Watkinson) and said that under her charge everything was running smoothly, economically and well. The chairman paid a tribute also, to other members of the hotel staff for their good work.