NEW ZEALAND LOAN AND MERCANTILE AGENCY COMPANY.

Wairarapa Daily Times, Volume 6, Issue 1748, 29 July 1884, Page 2

NEW ZEALAND LOAN AND MERCANTILE AGENCY COMPANY.

Annual Meeting. The annual local meeting of the New Zealand Loan and Mercantile Agency Company (Limited) was held at the company's offices, Queen-street, Auckland, on the 24th instant, at noon, Dr J. L, Campbell presiding. The following account of the proceedings appears in the New Zealand Herald■: Mr Frederick Battley, Secretary, read the minutes of the last annual meeting, which were confirmed. The Chairman said ;-The ob]eot of the present-meeting is a special one for the purpose of electing the colonial directors and the auditors. The annual report, published in London last February has been in 'shareholders handii, Yqu are aware that since tho_ publication of that report the capital of the company'has been increased by the issue of 20,000 new shares, representing the sum of fylf a million, "10,000 of these shares are to be issued to existing proprietors at a premium of. 20s.' The other 10,000 are to be issued in Australia at such p, premium, as thoy may command in (he market, and it is confidently expected that the judioious distribution of these shares—which are held in high estimation—will greatly assist in extending the valuable and highly profitable business now carriad on in ' Australia, As an index of the expansion of- the Company's, business : jn'Melbourne, I may inform yon that the increase in wool sold has risen '. fr0m'22,578 bales for the year ending '. 30th June,' 1882 to 26,333 for i 1884; wool shipped,, from 15,423 i to 19,492 bales, making the total in- i crease bales; grain and flonr, sold and 'shipped, from the value of £59,874 to £122,419. Coming nearer j home, I may remark that in New Zea- < land, where somo 7000 bales represent \ ted the wool business done by us in I 1880, last returns are over 11,000 ] tylqs. The total wo,ol hailed by this I

company in London and the colonies last year aggregates 124,439 bales—a larger quantity than is dealt with by any other house in the world, Generally, I may state, that from all the. agencies we have returns of a steadily increasing business, and a business of a most satisfactory description. In fact, had the capital been increased by one million, instead of half a million, the company would have had no difficulty in profitably employing it, the many new rival institutions notwithstanding, DIRECTORS. Mr A, K. Taylor proposed, and Mr J. E Upton seconded, " That the retiring directors Messrs Samuel Browning and J. C. Firth be re-elected."— Carried. AUDITOR, Mr J. F. Leighton proposed, and Mr J. 0. Firth seconded, " That Mr W. I. Taylor be the colonial auditor." Carried. THANKS. • Mr G. P..Pierce proposed, and Mr J. M. McLachlan seconded, "A vote of thanks to the chairman, directors, and managing directors, and officers of tbecompany, for their conduct' of the business of the company during the past year." Carried, The chainnan on behalf of the directory thanked the shareholders for the vote of thanks. . Mr Frederick Battley, secretary,, said it devolved upon him again to return thanks on behalf of himself and his fellow officers. And this was no mere perfunctory duty. The officers very much valued these expressions of the confidence of the shareholders, and he could testify that the trying experiences of last season had but emphasised the fact that the staff very well deserved the thanks of the shareholders. They were an earnest and most devoted body of offices. He begged again to return thanks on behalf of the officers. The rough minutes were then confirmed, and the meeting separated.