WELLINGTON MORTGAGES LIMITED
The second annual meeting of shareholders of Wellington Mortgages, Ltd., was *" held yesterday afternoon at the office of the secretary (Mr.-J. L. Arcus), Featherfcton street. , There was an attendance ' of twenty shareholders, in addition to *, the directors. .-.' ' In moving. the adoption of the report and balance-sheet, the chairman (Mr. W. 31. Wright) said ■ that during the past financial year, the business of the company had been profitable, and the accounts
showed a large increase in every item: The
average amount of the loans granted was £333; the largest loan was £1000, and the smallest £20. The company had
; adopted the insurance principle of dealing with., mortgages, and every one of "them had been inspected by the directors before being accepted. The meeting recommended the directors to call up the balance of the capital, and tp issue the amount that had not been allotted. . ■ • ! ■ The report : and balance-sheet were adopted, .and an interim dividend of 4 per cent., making 7 per cent, for the year, was" declared. ' The directors were voted an = honorarium of £150 amongst the'in; Messrs.1 E.. E. Hay and F. Meadoweroft ■were re-elected directors, and Mr. C. E. Webb was reappointed auditor.
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Bibliographic details
Evening Post, Volume CIX, Issue 44, 21 February 1930, Page 12
Word Count
197WELLINGTON MORTGAGES LIMITED Evening Post, Volume CIX, Issue 44, 21 February 1930, Page 12
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