THE EXHIBITION
WINDING-UP THE COMPANY. DUNEDIN. June 20. A meeting of tho shareholders in the New Zealand and South Seas Exhibition was held to-night, for the purpose of commencing the liquidation of tho company. In the course of his address. Mr J. Sutherland Ross, chairman of direejtors. said that the total attendances had amounted to 3,200,498. with n record on the dosing day of 83.935. The average attendance for the 142 days on which the Exhibition was.open was 22,538. The actual assistance given by the Government’ was as follows: £50,000. was a straight-out grant and a loan of £30.000 without interest was also given. They, had, moreover, arranged to have the call on another £25.000 as required, bearing interest at the rate of 54 per cent. They had only found it necessary, he was glad to sav. to ask for £IO.OOO and that bad been repaid within 20 days. The £30.000 loan had been repaid the day before the Exhibition closed. In addition. the directors had been enabled to call oil £20,000 locally in the form of guarantees. The Art .Gallery had been visited by 268.853 people, and pictures to the value of Cl 1.164 had been sold. Tt had been put abroad that tbe Argyll and Sutherland Highlanders’ Band had cost them £30.000, but as a matter of fact its cost would be round abcui Cl 2.000. It was anticipated that shareholders would receive back 14s lOd in the pound.
The total receipts from admissions cninc to £100.202. Spare fees amounted to CfU.555. and commissions from sol line stalls to £11,578. The rentals from the Amusement Park brought in £13.172. The takings from the amusements, scenic railway, etc., conducted bv the company, came to £56.270. and 2,205.155 people entered the gates to these various amusements The cost of the Exhibition buildings, etc., was £211,602 (including architects’ fees £10.493), and expenditure on the ground, etc., was -31,594. Wanes and salaries absorbed "£35,5/8. advertising £11,353, and the band £l2 556. It was decided that the company go into voluntary liquidation.
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Hokitika Guardian, 3 July 1926, Page 1
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339THE EXHIBITION Hokitika Guardian, 3 July 1926, Page 1
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