WELLINGTON INVESTMENT COMPANY.

Dominion, Volume 2, Issue 574, 31 July 1909, Page 8

WELLINGTON INVESTMENT COMPANY.

: v-s. ■ ■: -4 —_:— .-• '.;',■■,■-. REMARKS BY ME.: J, R. BLAIR. •The. annual<;meeting of: the Wellington Investment, Trustee and Agency Company, Ltd., was' held at the office, Lambton Quay, last evening, a score' of members being present under the chairmanship of Mr. J. R. Blair! ' ' In commenting on the annual'report (which has been' published), the. chairman congratulated the company on the satisfactory position disclosed.' The variations froni last year's figures were-mostly unimportant, but'-, a cautious 'policy had- been necessitated by the state of affairs in the country. There had 'been, during the year,'no losses of any kind.'; He had gone carefully into: the'commitments, and know of no cases in which there was any cause for fear.' With reference to the future, 'the fact that the North Island was still very Inrgely undeveloped would promote a considerable, demand for money. The opening of the Panama \Canal would greatly influence the whole Dominion, and while nobody could foretell all that it would do, he felt suro Wellington would become the great coaling port for the steamers going to and from these islands through'the canal. He. had ho fear for tho future/ There was" plenty of produce, plenty Of -wealth in the country. There ,was sufficient monoy , for all legitimate purposes. The cause of the r trouble was want of confidence in values, and sonlo of those who were dealing with these subjects were not by any means helping to remove that want of confidence when, they talked so much about financial.stress. ','.'' Mr. J. C. M'Kerrow seconded the adoption of the report and balance-sheet,' which were carried. Messrs. F. H. Eraser and A. C. Fife- we:e re-elected. as directors. . .'! Mr/ D. T. Stuart- wrote that he would n-1 seek, re-election as auditor. Having occupied the position since the inception, he greatly regretted- severing tho connection. . ■ Mr. E.'Bucholz was unanimously re-elected auditor, and Mr. S. G. Leary was also elected an: auditor by ballot. Tho chairman announced that a further dividend.of three per cent, would-be paid.-makiiig 6 per cent, for the year. ; Votes of thanks were accorded to tho chairman, the .directors, and the officials.-