Wellington Park Stud.

Te Aroha News, Volume XXII, Issue 42775, 7 September 1905, Page 2

Wellington Park Stud.

TO BE DISPOSED OF. [By Telegraph—Press Association.] Auckland, this day. Shareholder of the Wellington Park Stud Company have authorised the directors to dispose of their property. The chairman, Mr Mitobelson, said that since the company took the busie ness over, losses had amounted to over £4,694. Besides this there was insurance of £5,000 on stallions with the International Horse Agency, which that company refused to pay on the ground that Thus. Morrin, as agent, had failed to remit to London the insurance premiums; They were tak ing legal steps 'o recover the money, but whatever loss accrued under this head b* added to the above. A sum of £1,934 was standing to Morrin’s suspense account, but us he was a large shareholder there would not be serious loss on this head if they had a good sale. The Company had been very unfortunate since entering on venture, having lost stock, chiefly brood mares, to the value of £2490 besides writing uif £1715, re lut tiou in value of marep,