No Reporters!

Sun (Auckland), Volume III, Issue 716, 16 July 1929, Page 1

No Reporters!

GREAT DIVIDEND SCHEME

Press-Shy Secretary

“I’M glad there are no reporters here tonight,” said Mr. 1 David N. Johnston, honorary secretary o£ Quarterly Dividends, Limited, when he began his address to an earnest audience of nearly 40 people in the parlour of a private house in Virginia Street, Archhill, last evening. Mr. Johnston, for reasons which lie mentioned with just the slightest touch of melodrama, looks with suspicious eyes on reporters, and the overture to his address on a remarkable philanthropic scheme concerned itself solely with abusive comments on the Press.

“W E have assembled in a private house to avoid reporters and the half-truths of the Press,” said Mr. Johnston, with just a suggestion of belligerent joy in his voice. There was, however, a little prelude to Mr. Johnston’s overture. The audience had assembled at 7.30, but Mr. Johnston did not arrive on time, and as Cr. W. H. Murray was present it was decided that a short address on the city’s finance would not be distasteful.

Cr. Murray obliged, but his speech, of course, was no more than an appetiser, and it ended with the arrival of Mr. Johnston at 7.55. Mr. Johnston, as previously mentioned, is the honorary secretary of Quarterly Dividends, Limited, “the greatest scheme the world has ever had before it,” to quote from a speech delivered by the managing director at the Central Hall, Westminister, In 1923. The International headquarters is at Fishponds, Bristol, England, and the New Zealand registered office is at 45 Brunei Street, Mornington, Dunedin. The honorary secretary was introduced by an affable chairman who, after appropriate introductions, announced that he would leave the floor for Mr. Johnston. MAKING MONEY GROW Mr. Johnston then began his explanation of the philanthropic operations of Quarterly Dividends, Limited, with which is beneficently associated National House Purchase, Limited. To get proper grasp of the scheme necessitates more than one evening with the honorary secretary; but a patient listener obtains a glimmer during the first recital. The modest expenditure of £1 in each of the two schemes will entitle the depositor to dividends as on £5,000 at the end of 16§ years. Dividends have never been lower than one shilling in each £l, and on seven occasions in the company’s beneficent history it has been as high as four shillings. Mr. Johnston, speaking for nearly

two hours, explained how this agreeable financial growth took place. An artist in his line, Mr. Johnston broke away from the direct line of his address occasionally to lighten the narrative. He announced that critical newspapers would have cause to regret their comments when the case brought by the international head office against an English newspaper was decided. The plaint was filed in August, 1927, but the newspaper, fearing the issue, had sought adjournments with remarkable persistency. “We have given the defendants the right to examine the complete records of our operations,” said Mr. Johnston, “but they are still nervous about coming to court.” Mr. Johnston stressed the fact that he was working in an honorary capacity. “I only get my travelling expenses amounting to £3O for five months,” he said. “I do this philanthropic work out of gratitude for my recovery from 29 operations,” he added. MELTING MORTGAGES When the time came for questions, Mr. Johnston was most beset by a man who was allured by the prospect of Quarterly Dividends, Limited, clearing his house mortgage in four years. This blissful state could, apparently, be reached through the paying of the interest money into the funds of the company. „ The mention of mortgages inspired Mr. Johnston to philosophic utterance concerning “monkeys.” “Do you know that mortgages eat money?” he asked with rhetorical fervour, and the sounds of vocal approval from members of the audience indicated that the bitter knowledge had already been acquired. Anyway, it was a good evening. Mr. Johnston is an entertaining speaker, and that he spoke to good effect was shown by the calls for application forms at the end of the meeting. After all, the opportunity of joining “The Greatest, the Safest and the Best Thrift Fund ever formed” does not come every day.