WELLINGTON PARK STUD.
HEAVY LOSSES.
AUOECLAND, February 27,
.At the annual meeting of the Wellington Park Stud Company to-day the report disclosed a loss of £14,839 —-equal to nearly two-thirds of the company's capital. The Chairman (Mr Mitonelson) said mismanagement and expensive working contributed to the loss. Liquidation was the only thing left. The Joss at the end ot January, 1905, was £4,264. The loss entailed by the sale of mares and stallions at the dispersal sale was £7,450, losses arising from irregularities amounted to £1,9i8, writiug off preliminary expenses accounted for £613, and the working loss on the year was £707. It was anticipated that owing to the discovery of a receipt fixing the liability of the International Horse Agency, Loudon, for an «insurance of £2OOO on the horse Phoe bus Apollo the amount for distribution oh liquidation would be about £8,500 less legal expenses a dividend of n bout 7£ iu the £ being: therefore probable. It was resolved to liquidate. Mr W. Morrison was appointed- liquidator.
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https://paperspast.natlib.govt.nz/newspapers/WAG19060228.2.14.1
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Wairarapa Age, Volume XXVIII, Issue 7975, 28 February 1906, Page 5
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168WELLINGTON PARK STUD. Wairarapa Age, Volume XXVIII, Issue 7975, 28 February 1906, Page 5
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