FRIENDLY SOCIETIES’ HALL COMPANY.
The annual meeting of the shareholders in the held at the Athens* mn last night and attended by some twenty persons; Mr James Smith occupying the chair. Prom the directors' report we make the following extract The debt of L 746 3s 9d due by the company at the «ast annual balance has been reduced in one year to L 345 2s lOd, after payment of all working expenses and charges. By the end of next year, therefore, it may be fairly anticipate! that the company will be able to pay regular dividends. It may may have been thought that the fact that for some months the Queen's Theatre has had a monopoly of theatrical business accounts for the increased revenue o£ th© company; but such is not th© case, as th© company for four months previous to the burning down of the Princess*© Theatre was re o living the same income as at the present time. Having in view the wish often expressed by shareholders for the enlargement of the Theatre, and generally the utilization and improvement of the whole property, the directors lately accepted an offer hj orn Mr J. W. Allen to surrender his lease for the sum of £BO, with a view of replacing the wooden building lately in his occupation with one of brick, to consist of a shop and suitable conveniences on the ground floor, and one or two stories for offices above. The estimated cost of the proposed new building, with two stories above the ground floor and a strong room, is £I,OOO. That sum may be reduced to about £72 !by omitting the top storey andstrong-room. The directors propose to raise the required funds partly by increasing the capital of the company, aud by taking from the present mortgagees the farther advance of £SOO, which they are willing to make upon the new building being roofed. The balance sheet showed the receipts for the year to i.ave been L 1,207 10s 6d, end the expenditure 1/766 0s 7d, leaving a credit balance of L44L 0s Hd. In a statement of the estimated receipts and expenditure for one year from the completion of the proposed alteration, the estimated receipts were put down at L 1,650, and the expenditure at L 792 7s 6d, leaving a credit balance of L 857 12s 6d. The Chairman, in moving the adoption of the report, mentioned that the Theatre bod been relet at the increased rental of L 865 a year, payable monthly in advance, to Messrs Steele and Keogh, who had intimated their willingness to pay 10 per cent, upon tbo outlay which would be involved in rendering the Theatre more commodious. In order to enable the Queen’s Theatre to compete with the new Princess s Theatre It was necessary to improve it, more especially as regarded, the depth of the stage and the comfort or the dress circle. By a moderate outlay the stage could bo brought forward so ns to give the required increase of depth and improve the shape of the Theatre; and the dress circle could be reseated, the present seats, as every one know, being very uncomfortable. For this purpose they contemplated it would be necessary to raise 1/1,500. Each director was prepared to take twenty-five additional shares. The report having been adopted, wnmn'Vß!fe”hsirrr«sirr“~»d.ycws<>llo*<piufjceaolutionß, Company's property lately held by Mr J. W. Allen under lease, be {improved by giving effect to the additions and alterations as shown on the plan and .detailed in "the specification prepared by Mr D Ross, architect, or such modification thereof as the directors may determine."—“ That the capital of the Company be increased to the extent of L 2,000, or any smaller sum, as the directors may determine, by the issue of new shares. Such shores to be first offered at par to the shareholders pro rata ; and, failing the issue of a sufficient number of shares to provide the required capital, the directors be authorised to borrow a further sum of LSOO on mortgage of their property." * Messrs John Pargie and 6. "W. Eliott were reelected directors, and Mr Sutherland was elected a direotorlu the place of Mr Allen, resigned. Messrs Hawkins and Tonngman were re-appointed auditors, and JWr Goodman treasurer.
Permanent link to this item
Hononga pūmau ki tēnei tūemi
https://paperspast.natlib.govt.nz/newspapers/ESD18760225.2.10
Bibliographic details
Ngā taipitopito pukapuka
Evening Star, Issue 4056, 25 February 1876, Page 2
Word count
Tapeke kupu
710FRIENDLY SOCIETIES’ HALL COMPANY. Evening Star, Issue 4056, 25 February 1876, Page 2
Using this item
Te whakamahi i tēnei tūemi
No known copyright (New Zealand)
To the best of the National Library of New Zealand’s knowledge, under New Zealand law, there is no copyright in this item in New Zealand.
You can copy this item, share it, and post it on a blog or website. It can be modified, remixed and built upon. It can be used commercially. If reproducing this item, it is helpful to include the source.
For further information please refer to the Copyright guide.