TEMPERANCE HOTEL COMPANY.

Globe, Volume XXIV, Issue 2447, 8 February 1882, Page 3

TEMPERANCE HO TEL COMPANY.

The annual meeting of the shareholder* of the shore was held air the Metropolitan Temperance Hotel, on Tuesday evening, at eight o’clock. Mr H. Thomson, M.H.R., chairmar, [Of directors, occupied the chair. The advertisement convening the meeting having been read, and the minutes of the laafc. general meeting confirmed,. The secretary read the balance-sheet to 31st December, 1881. The balance sheet showed the receipts on hotel account for the year to have been £lsll 18* 9d. Including loan, £IOO, the expenditure for the same period, £1261 12 1 Bd. The assets of the company were stated as being £34© 2s Id, and the liabilities, including interest to date, £424 11* 3d, showing a deficiency on the working expense* of the hotel- for the six month* comprised in the balance-sheet of £7B 9s 2d. The Chairman said he desired, in moving the adoption of the balance-sheet, to say * few words on it, and he would just refer to the hotel account. They had commenced business in the hotel on June last, and had taken £1232 lie. 9d., and the expenditure had been £7B 9j. more. The shareholders would observe that they had charged the hotel account with interest to date. He considered the statement was most satisfactory, as he had set down their loss for the first year as likely to be £3OO, "nd therefore the return as shown was in his opinion highly satisfactory. All that had been put down in their estimate of the property was what they had paid for it,, which he thought was a fair thing to do. The interest on money borrowed accruing before the opening of the hotel had been charged to capital account, and after the opening of the hotel the fair proportion of interest had been charged against the hotel receipts. The directors had been endeavoring to extend the capital of the company, and 854 shares had been sold. He trusted lhab shareholders would use whatever influence they had to induce the sale of still further scares. £o soon as the additions were complete he thought tho hotel would pay well. As an i nstance of this he might mention that the January accounts showed a profit of £SO. [Cheers.] He now moved the adoption of the balancesheet. Rev. H. O. M. Watson seconded the motion. In reply to Mr Gray, The Chairman said that the item furniture, £1175 8s Bd, meant the cos t of the furniture as new. The item sun dry accounts due, £47 6s 9d, was the amount due by boarders, which were the accounts o wing at the time the balance-sheet was drawn up They had, he might say, lost but very little indeed since they had been working, the account* due being returned without remark must be considered as being good. The motion for the adoption cf the balance sheet was then put and agreed to. An apology for non-attendance was read from the Very Rev. the Dean of Ohriatohuroh. The election of auditor was- then proceeded with. Rev. H. 0. M. Watsor. proposed Hr Alport. Mr Bennett* proposed. Mr W. F a . Backland. Rev. H. O. M. Watson withdrew tho mine of Mr Alport. Mr Glanville proposed Mr G. H. Motley. Mr Packer proposed Mr De Yeaus.. A ballot took placa, when Mr De Yeaux was declared elected. The nomination for two directors in place of Messrs Glanville and Hepworth then toot., place as follows:—Messrs Scott, Eonnetts, W. T. O. Mill* and Sawle. On a ballot tha following vrora elected infill the two vacancies, viz., Mettrs Mill* end Bennetts. The nominations for the three other vacancies on the directorate were then received as follow*,:—The Very Rev. the Dean of Christchurch, Messrs H. \7. Packer, Bush, J. li. Scott, Dawle. On a ballot, the Very Rev. the Dean, and Messrs Packer and Bush were declared elected. Mr Sheath moved a vote of thanks to tho retiring director*, as their work Led been most satisfactory. Mr Cl. M. Gray seconded the motion, which, was agreed to. Rev- Mr Watson raid ho desired to stale, what was -perhaps unknown to.tho majority of tiia shareholders, that the extansion of the accommodation of the hotel was due to the energy and pluck of Messrs Thomson, Booth, and Packer, who had guaranteed the re-pay-ment of the large sum of money necessary to complete tho hotel. This, he thought, spoke well for their faith in tho spread of the principles of temperance. [Hear, hear.] Mr Backland moved a hearty vote of thanks to the chairman. Mr Glanville seconded the motion, which was agreed to amid acclamation. The meeting then adjourned.