HOTEL CECIL BOUGHT
FAMOUS PLACE TO BE MADE INTO OFFICES BALFOUR CRASH RECALLED LONDON, December 20. Shellmex, Limited, has contracted to buy the famous Hotel Cecil, in the Strand, and will take it over on June 30, when it will cease to be an hotel, for conversion into offices. The United Realisation Company hold £200,000 worth of shares in the Hotel Cecil. The company was formed in 1896 by sufferers in the Jabez Balfour crash of 1892, with a view to safeguarding assets. The shareholders have met annually ever since, but it has never paid any dividend. It so happens that the last meeting was held only on December 16, when the chairman remarked that their only remaining asset consisted of the holding in the Hotel Cecil.
Shareholders attending the meeting consisted of a score of elderly men and women, the sole survivors of the 25,000 original shareholders.
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https://paperspast.natlib.govt.nz/newspapers/SUNAK19291227.2.73
Bibliographic details
Sun (Auckland), Volume III, Issue 856, 27 December 1929, Page 9
Word Count
148HOTEL CECIL BOUGHT Sun (Auckland), Volume III, Issue 856, 27 December 1929, Page 9
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