CANTERBURY COTTAGE BUILDING COMPANY.

Globe, Volume II, Issue 101, 26 September 1874, Page 2

CANTERBURY COTTAGE BUILDING COMPANY.

A general meeting of the shareholders in the above company, was held at Mr 0. Clark’s rooms yesterday, at noon. Present: Mr C. C. Bowen (in the chair), Very Her the Dean, Dr Back, Messrs W. H. Lane, S. 0; Farr, J. P. Jameson, Studholme, F. Thompson, G. Hart, and Templer. The chairman said that this meeting had been called to declare a final dividend on the shares of the company in liquidation, and to wind up its affairs, The treasurer’s account of the present state of the company would be read. He might state that an acre of land had been acquired, but nothing further had been done, as it was found it would not pay. The land had since been sold as it could be got rid of, and the account of the proceeds would be found in the statement of the treasurer. He (would now ask Mr Jameson to read the balance sheet of the company. Mr Jameson then read the balance sheet, from which it appeared that 677 shares of £2 each had been taken up, on which 13a 4d had been paid, making a total of £451 6s 8d ; a call of Is per share for preliminary expenses, which had produced £32 17s, making a total of £494 3s Bd. The land had been sold for £470, making a grand total of receipts of £954 3s Bd. A dividend of 5s per share had already been paid in liquidation, amounting to £293 15s; the liabilities were some £3 or £4, and . unclaimed dividends £lB 15s, leaving a net balance of £272 8s 6d for distribution amongst the shareholders. The balance sheet had been audited by Mr C. K. Blakiston and Dr Back. The Chairman said that the report of the auditors, after stating that a balance of £272 8s 6d remained for distribution, recommended a dividend of 7s 6d per share, which would absorb £253 17s 6d of the balance, leaving £lB lls in hand, which they recommended should be handed to the hon treasurer, Mr Jameson, as an honorarium. In this latter recommendation he (the chairman) most cordially coincided, as Mr Jameson had carried out all the work of the company for some time without any remuneration. The matter stood thus —they had paid los 4d on their shares, and were now going to receive 12s 6d in all back, that was 5s the first dividend, and 7s 6d now, Mr Hart enquired what it was intended to do with the unclaimed dividends? Mr Bowen said that notice had been sent to all who were entitled to receive them, and he had no doubt they would be claimed.

There were only five cases in which the dividends had not been claimed, the majority of which wore estates which had since passed into the hands of trustees, &c. _ Mr Studholme moved the adoption of the treasurer’s report and balance sheet, together with the recommendations of the auditors. The Dean seconded the motion, which was agreed to. Mr W. H. Lane moved a vote of thanks to the treasurer, Mr Jameson, for his trouble and exertions on behalf of the company, which was carried. The chairman said that shareholders by calling at Mr Jameson’s would receive cheques for their dividends.

A vote of thanks to the chairman concluded the proceedings.