NEW ZEALAND INVESTMENT CO
T. ''"V"' -ANNTJAL--MEETING/'' : • The annual general meeting of • shareholders, in .the New Zealand. Investment; Mortgage, and Deposit Gbmpany, Ltd.,. was held 'yesterday.!-', Mr. W. G. Foster, chairman ,of. presided, and there were 50me..40 shareholders present. 'The chairman, moving the adoption of the report"'"" (previously published), and 'balance-sheet-,• congratulated the share* holders on a successful year of operations. The period under review had been especially successful in the subscription af new capital, ,7G91 newi shares having -been issued at 'par. paid up to 10s., making the totalsubscribed "capital £52,148. He reminded the shareholders that if they found more capital .'they . could increase the profitearning capacity of the company without increasing the working cost. Shares in the, company offered a very safe investment* to. those;; satisfied with a moderate return.- Tlie'mortgages falling iu during tho year had most of them been paid off or renewed, very, few mortgagors having •taken advantage of tho provisions of the Mortgages Extension Act. : While the directors-..were optimistic as to the outcome of the -war,'and the conditions to prevail^'after the /war, they were still not forgetting that -prudence was the better part .of 'valour, and the shareholders'business "would bo " conducted by them in future -with tho same care as had hitheTto permeiited conduct of it. (Hear, hear.) .The adoption of the report was agreed to without debate.
Mr. ,W. , jl.."Muir and Mr. John S. Swan were elected to fill -vacancies on tho ■directorate. ~ v " Messrs. and Son were re* elected auditors. It was defcifled'that tho remuneration of directors -bo .'£iCo,- to he divided amongst them as the' board should, determine. A hearty vote of thanks was: accorded .to the-secretary-(Mr.. C. E. Stuart) and his staff for their efiicient services "• to tho company. ■' Customs" duties' .collected at the port of 'Wellington yesterday amounted to - £1528 10s.: 1id..,-' -
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Dominion, Volume 9, Issue 2760, 2 May 1916, Page 8
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303NEW ZEALAND INVESTMENT CO Dominion, Volume 9, Issue 2760, 2 May 1916, Page 8
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