GUTHRIE AND LARNACH’S AFFAIRS.

South Canterbury Times, Issue 2967, 28 September 1882, Page 2

GUTHRIE AND LARNACH’S AFFAIRS.

The report of the proceedings at two, meetings of shareholders in Guthrie' and Larnach’s Wood ware Factories Company, at which a resolution agreeing to liquidation was passed, and then' confirmed, is being published in the Dunedin papers. The proceedings were 1 of considerable interest principally as affecting the relations of the Bank of New Zealand to the Company. In the course of Mr Larnach (the chairman’s) speech he said; —“ I do not mean it offensively ; X only wish to say this for the Information of the shareholders;: that the Company’s account has been one of some value to the Bank from its commencement. Here is a statement of the interest, discount and exchanges paid since the . commencement of the Company down to the end of last month. The interest, discount and exchanges paid to the Bank up to the end of December 31, 1881, was £79,279 19s. That is from the Ist of September 1877, to the 31st of

December, 1881. From December 31, 1880. to July 31, 1882, there has been an addilional amount of £37,990, so that during the Company’s existence there has been something over £117,000 paid in discount, interest, and exchanges. The amount passed through the Bank’s books by the Company, paid in, in the shape of bills and cashl amounts, from the Ist-September, 1877, to 3lst December, 1880, to £1,841,688, out of which over £453,000 was cash. So that the account has not been without profit to the Bank, but has been one of coniderable value.”