SOUTH WAIRARAPA WORKING MEN'S CLUB COMPANY.

Wairarapa Daily Times, Volume 2, Issue 243, 20 August 1879, Page 3

SOUTH WAIRARAPA WORKING MEN'S CLUB COMPANY.

The annual meeting of the shareholders was held on Saturday last, when there was a very fair attendance. Mr Barnard occupied the chair. The minutes of the last annual meeting were read and confirmed, and the following report read : " Gentlemen,-Your directors have much pleasure in again presenting you with a balance sheet that must prove that the company is in a very favorable position. The receipts for the past year including the balance of £SOO borrowed from the Wairarapa Investment and Loan Association, viz., £250. acd £216 rent of premises, have been £B2B 4s 3d, and the expenditure £B2/ os Id. The liabilities of the amount to be paid to the Loan and Investment ,?• dety, are £59 14s, and the assets (exclusive of property) i.e., calls due upon shores, &c, £O7 Is Bd, and allowing £25 as doubtful to realise on shares, it srill leaves an excess of assets over liabilities < f £l2 7s Bd. The property account has be„-u arranged under a sepa rate heud, am., shews that taking the property at cow, which we consider a fair valuati n, it amounts to £937 13s 4d. There is yet to pay io the Building Society say £316 Jos, which deducted from the valuation would leave £O2O 18s 4d, or more than sufpeient to cover the original value of shr-res taken in theumpany if it we.-e necessary, ifiui it must not be taken - for gmited that ;;G2olßs 4d is all that Convoy would be worth when the of the Building Socie.y are paid. It must be borne m mind ■ iu'-i- the Club is progressing and will no doubt continue to progress, and the rent derived from Club premises is suftcieiit !,o meet the calls of the Society, con&eqi'eutly the capital of the Company KV.uld i.e reckoned as at £937 133 4d p.ii-'. lis 'shares of a value of V 30s eric) YTii'i "ii i.wenty months the \ callsoc reij"ci'vv rillbave been paid, and ihe:i ilie ve«- .'eriveilfr. m the premise;!; ivhalever.'. . ,>y 'c, will be divided anion;' Lave paid up, as a dividend. 'Hie I oral nuni! er of shareholders on ,he' r,'s are 91 arid shares ap-lied ) r f'3o. '..'cur tiireolors are of opinK'n {' .. no iicv.' scares should be issued, cul; i',o v...-.'e.;;,.ve ci th-"go n-t paid upih mid !>.? •ully i.- i&ilcred, an 1 those so forfeited h& all ho..iToved to the public. As the rmoi'.i. will le required to me:t the e..i:,uir; lia' ililios, your Directors have os/iiscil or furniture, &c, to the Club, i • .'lie nnmuit ■ f £SO, and had I reduced the w,u of the from £5 to£4 103,p-r.j'wutliri.to£4,tholattri datingfro.n .'n Ist of thisinnntli. Itwil' be necessary '" elect Directors in place | Messrs 1\ '11; a Wood who are ole«iRe for re-clu. .'ion, and also Secretary and ko Treasurer and ;:i'di;ors." The Report w,i r dopied on the motioi of Mr Gr :y, rcouded by Mr Ma^uiro, Messrs Dilie and Wood were° re-elej ted Directors.- Mr Fuller vas elected a;

a Director in th« place of Mr H, A, Cow per i t;sigiied. Messrs Thompson and Webster wero elected as auditors and Mr Bock war re-elected as secretary and treasurer.

Mr Sheet stated that as 30 shareholders had by the regulations forfeited their shares, he would propose that they be struck oil', making the total number of the shares GOO, and those who had paid only the application fee receive a fortnigct's notice to pay up, or after that date their entrance fee would be forfeited and the shares offered to shareholders. Mr Avery seconded the proposition which was carried.

Mr Maguire moved and Mr Gray sec-onded--A vote of thanks to the Directors for their past servicos, A vote of thanks to the chair concluded the business.