EQUITABLE BUILDING AND INVESTMENT CO.

Dominion, Volume 5, Issue 1354, 3 February 1912, Page 8

EQUITABLE BUILDING AND INVESTMENT CO.

ANNUAL MEETING. The thirty-fourth annual mcstinp of the Wellington Kquitablc Building and Investment Co., Ltd., was held at the Chamber of Coimnercc last evening, ?,Tr. G. M. Kebbell, chairman of directors, prssidinp. In moving the adoption of the report and balance-sheet (already published), the chairman said that considering the dullness in ahd around Wellington, the sharsholders should bo plsafed with the bal-lance-sheet presented. "At our last annual meeting," lis said, "I hint-ed that the company might lose on some of its advances. On reference to the accounts you will see that we have written off «£l£o loss at Mastcrton. Ws have been told that No-License in that district was the cause of this property falling in value. In. looking bade I find that the lo?s was in 1898, 13 years ngo, and the amount was £106, which is a record that few companies can beat. We .have, made ample provision for fur* thsr losses, which no doubt will occur, unless there should be a revival of trood tim?s in the property market. Your directors are of opinion that, should 110 unforeseen contingencies eventuate, shareholders may participate a little more in the profits of the company at its next annual balancc." The report and balancc-shset were adopted. Mr. L. Stowe, the only retiring director, was unanimously rc-electcd to the directorate of the company. Messrs. E.. Buchnk and 0. 8. Watkins were re-elected auditors.