THE 'TAELET' NEWSPAPER COMPANY.

New Zealand Tablet, Volume II, Issue 57, 30 May 1874, Page 9

THE 'TAELET' NEWSPAPER COMPANY.

The adjourned Annual General Meeting of shareholders in the Tablet newspauer was held in St. Joseph's schoolroom on the evening of Thursday, the 21st instant. His Lordship the Bishop occupied the chair, and shareholders to the extent of seventy-nine shares were represented. The minutes of last meeting having been read and confirmed, the secretary stated that owing to the multiplicity of the accounts the auditors were unable to furnibh their report on the balance-sheet which had been eubiiiitted to them ; but on the completion of the audit and the acceptance of the balance-sheet by a meeting which woula be held for that purpose, it would be published in the Tablet for the information of shareholders at a distance.

Tl c chairman said that although the balance-sheet which had been diawn up by the secretary could not be officially placed before the meeting, not having left the auditors' hands, yet he had no doubt but it was substantially correct. From that statement he was happy to 6ay the affairs of the company were in a most flourishing condition, and its success had exceeded his most sanguine expectations. The paper had been started under great disadvantages, a large amount of the capital being absorbed in preliminary expenses; and now at the close of the first yenr, they found they had not only their original capital intact, but with over £200 to the good. They might rafelv conclude, then, that tbe Tablet was placed on a firm basis, und financially :>nd otherwise an established success, showing as it did a profit of 40 per cent. The total number of shares which it had been at first proposed to itsue was 1500, but of this number but 561 had been allotted, and although applications had been made during the past year for shares, the directors thought it better to refrain iroin doiii" so until after the annual general meeting. Ihe question now arose whether it would noi be better to issue the balance of unsold shares, with the view of placing more funds at the disposal of the directory. His Lordthip then paid a high eulogiutn to the secretary, and 6tated that it was owing to his energy, zeal, and unceasing efforts that the present success ot the company was attributable ; for were ie not for the labors of Mr Loughuan, instead of its now nourishing position, it must have long since ended in failure. Ho thought the shareholders o-»ed the secretary a debt not easily paid, and one certainly which money could not recompense. This directors had worked hard, but were it not for the secretary, their efforts -would have been futile, and the paper long since ceased to exist. He thought, therefore, that as a debt of gratitude the shareholders should present that gentleman with v testimonial as a small recognition of his service and zeal for the

interests of the paper. The term of office for which the directors had been chosen had how expired, and it was the duty of the meeting to elect gentlemen to fill the vacancies.

The following gentlemen were then proposed and elected to constitute the directory during the ensuing year s— Messrs Connor, Scanlan, Bunny, Downey and Meennn. Messrs Columb and Meenan, the retiring auditors, were proposed for re-election, but Mr Meenan having been elected a director was declared ineligible, and Mr Michael Meenan was elected to fill the vacancy.

On the motion of Mr Scanlan, seconded by Mr Columb, a committee was appointed to confer and arrange for the purpose of presenting the secretary with a testimonial for his services during the past year.

The Secretary having intimated that on the balance-sheet beingpassed by the auditors, a meeting for its submission would be convened on Thursday, 4th June, a vote of thanks was accorded the chairman, and the_ proceedings terminated.