HOTEL CECIL
PURCHASED FOR OFFICES
LONDON, December 18
Shell Mex, Limited, the trailing company in England for the Shell group of petrol producers, has ■ contracted to buy the Hotel Cecil, taking it over on June 30, when it will cease to be a hotel, and he converted into offices. About £1,500,000 is involved in the transaction. The United Realisation Company holds £200,000 worth of shares in the Hotel Cecil. It w;\a formed in 1896 by sufferers in the Jalv-o/.-Balfour crash in 1892 with a view to safeguarding the assets of the shareholders. It lias met nnnualy over since, hut there was never any dividend It so happens that at the hist meeting on December 16 the chairman remarked that the only remaining asset consisted of the L'oldlng in tlio Hotel Cecil, Shareholders attending Monday’s meeting consisted of a score oi elderly men and women, the survivors of 25,000 original shareholders. One shareholder suggested that it was time to wind up the company. M'lie chairman replied: Wo ought to hold on; and a woman retorted: “But we are getting old.”
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Hokitika Guardian, 3 January 1930, Page 7
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179HOTEL CECIL Hokitika Guardian, 3 January 1930, Page 7
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