NEW ZEALAND LOAN AND MERCANTILE AGENCY COMPANY (Limited).

Globe, Volume XXIII, Issue 2220, 7 April 1881, Page 3

NEW ZEALAND LOAN AND MERCANTILE AGENCY COMPANY (Limited).

The sixteenth annual genera! meeting of the Vow Zealand Loan and Mercantile Agency Company (Limited) was held on February 4th, at the offices, Queen Victoria street. Mr Thomas Russell presided, and in moving the adoption of the report observed that he could not refrain from congratulating them upon not only paying their usual dividend, but on resuming their contributions to the reserve fund, which from the time they commenced until last year ware annually continued without any break. Last year, under peculiar, and to the colonies very trying circumstances, they deemed it prudent for a time to withhold their contributions to the reserve fund. The colonies had been suffering for some time, in some places, from deficient harvests, droughts, and long-continued depression in the price of their staple commodity, and while in this condition they wero_ overtaken by the financial panic which, beginning in this country, spread throughout the world. The company had, however, gone through and rea Used all the results of that depression, and with the utmost confidence they now resumed their contributions to the reserve fund, with the firm persuasion that they now occupied a bettor position than ever, and that they would be able to make increasing contributions to that fund, which now stood at £170,000. Mr Robert porter having seconded the motion, it was carried _ unanimously. A dividend and bonus, making 15 per cent. ;for the year were_ declared, and the retiring directors and auditors were re-elected.