CANTERBURY MARBLE COMPANY.

Globe, Volume XXII, Issue 1886, 10 March 1880, Page 3

CANTERBURY MARBLE COMPANY.

The annual general meeting of the shareholders of the above was held at the office of the company, Hereford street, last night. Mr E. Mitchell, chairman of directors, occupied the chair. The Secretary having read the advertisement convening the meeting, read the following report of the directors : As no formal report or audited accounts were laid before the shareholders at the annual general meeting held on the 7th of March, 1879, the present report era braces the period from the 7th of March, 1878, to the 7th of March, 1880. Yon are most of yon aware that for the last two years nothing ha* been done with regard to working the quarry, owing to the still existing difficulty of getting the marble to market for the want of a road, and your directors have come to the determination that all liabilities be immediately paid off, for which purpose, at their lust meeting, they made a call of 6s per share, payable on the 20th instant, and that all outlay shall cease, except so far as will be necessary to keep the company legally alive until such time as there is a better prospect of working the quarry to advantage. The proposal for the enlargement of the company, recommended at the annual general meeting, held in February, 1878, was so far carried ont that at an extraordinary general meeting, a resolution was adopted to increase the capital of the company to .£IO,OOO by the issue of 1860 additional shares of -65 each, but as, up to the end of June, 1878, only fifty shares had been applied for, and there being no prospect of the rest being disposed of, it was decided to return the deposits of those taken up, and the resolution for enlarging _ the company was rescinded at an extraordinary general meeting, held on the 2nd June last. It will be seen by the accounts, duly audited, which are laid on the table, that the mortgage upon the Company’s property is still owing, besides J 321 Is lid for other outstanding accounts, making together .£Bl la lid, to meet which there is .£BO 2s 6d to he got from calls, and £2l is 3d in the Bank of Australasia, in all .6101 3s 9d; leaving a balance in hand, after paying every liability, of £2l Is lOd, besides .£32 unpaid capital, being 5s per share on 160 shares. The two directors who retire by rotation are Messrs C. C. Aikman and E. Mitchell, but as Mr Aikman lost bis seat when he ceased to be a shareholder, Mr Mitchell is the only one eligible for re-election, so that two directors will have to be appointed. The only point the directors can congratulate the shareholders upon is that the Canterbury Marble Querry Company was awarded third prize for marble at the fcydney Exhibition. E. Mitchell, Chairman. The Secretary read the statement of accounts as audited. Mr Burnett moved—“ That the report and accounts as read he received and adopted.” Mr Davies seconded the motion, which was carried. The next business was the appointment of two directors in the room of Messrs O. O. Aikman and B. Mitchell. Messrs W. W. Charters and Mitchell wore appointed to fill the vacancies. A vote of thanks to the chairman concluded the proceedings.