WELLINGTON TRUST AND LOAN COMPANY

Dominion, Volume 11, Issue 116, 2 February 1918, Page 14

WELLINGTON TRUST AND LOAN COMPANY

ANNUAL MEKTING. The forty-fifth annual mcetinp; of shareholders of the Wellington Trust, Loan and Investment Co., Ltd., was held last evening in the Chamber of Commerce. Mr. J. A. Plimmer presided. In moving the adoption of the directors' report and balance-sheet (already published) the chairman said attention had been called to the heavy taxation, which amounted to 7s. 6d. in the £1 on its profits. The directors had made representation to the Minister, but no alleviation had been graitted so far. This taxation had resulted in a dividend of 7.V per cent, as against 9 per cant, last year. He congratulated tlie shareholders as the business of the company had increased, and but'for the heavy taxation, there' would have been the same dividend as last year. The motion was seconded bv Mr. Walter S. T!oid. Jh answer to a shsrelioldt-r 'be chairman stated that the Reserve Fund was invested in mortgage.'. The report p.nd balance-sheet were adooted The retiring directors. Messrs. •Tames Leokifl and Walter Scott P.ei'l, were re-elected, and Messrs. 0. P. Povel* and Ernest W. Hunt were reelected auditors at the same remuneration as last year. A vote of thnxks was passed to the director* and «taff. A vote of thanks to the chairman closed the business.