LOAN AND MERCANTILE AGENCY CO.
Annual Nesting. By Telegraph.—Pbess Association. London, February 6, At tbe meeting of the New Zealand Loan end Mercantile Agoncy Company, Sir John Gorst, Chairman of Directors, said that the company had had a splendid vear, Wool of the value of two millions sterling had been imported. The alliance with Horsfall's. had proved beneficial in developing the pi oduco market, He expressed his opinion that loans were preferable to mortgages, and mentioned that three-quarters of the capital of the company was sunk in tho colonies. Referring to the change which the Now Zealand Government had made in the incidence oE taxation, he said the new system was disastrous, and that ocher companies projected tho withdrawal of capital from that Colony, The meeting passed a resolution in favour of future reserves being invested in Government securities,
The Eight Hon, A. J. Mundella, one of the directors, said the depression in the shares was due to the unpaid liability, and he suggested that a reduction should be made in the value of the sbareH.
The meeting was enthusiastic in praise of the manner in which the directors had conducted the affairs ot tbe company.
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Wairarapa Daily Times, Volume XIII, Issue 4033, 9 February 1892, Page 2
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196LOAN AND MERCANTILE AGENCY CO. Wairarapa Daily Times, Volume XIII, Issue 4033, 9 February 1892, Page 2
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