ANNUAL MEETING.

Wairarapa Daily Times, Volume XIII, Issue 4091, 19 April 1892, Page 2

ANNUAL MEETING.

Mastertori Blacksmith ani WheelragM Manufacturing Company, •".;-• [tljalted,] ■_■",' ■'• The adjonrned anjiual toqeting of shareholders of the. Mnsterton J3lacksrpjllj Miinufaisturing Cpmppy, fyniited, wgs held in thb Temperanoe Hal! on Saturday last. About fifty shareholders were present, the chair being occupied by the Chairman of Driectors, Mr James Stiickey. v . '""'" ' '' ■ . The minutes of the previous meeting were read and confirmed,; •. TheCha,ir.ra«B said 09 doub| % jiaMl received |n'eauieude'd|3alanoesheet, with the rejjoit. • !! He believed the - discrepancy pointed out at last meeting jjapeen. rqo{ißfla." f|6 saw lidthiiigin the report or balanoeshe'et calling"for special' comMit!! : ;"* ; "; the"- report arid balance-sMet were readbytjipSepretp ■■■ Mr 'Jolih Raynet'asked for an explanation o{,i|ie'|'9Q lQs jjjfl, set down ai |, W'oiid,'d.oiibt{uili' '■•')] ; Tliephairmansaid this amount had been get h\s/d to meet bad ful debts which may arlseVT-TTlTere were, not .now. .bad,, debts, to this 'amount,' but there might be. There was then the cost of collecting to be paid out of tbissum, '-' 'Mt'Osbtirhe:' I seeno'-acoount cf

ihe agpnoy business you have done in the balaricMheet. The Chairman: That is included in the Item "'work done," If tlio Directors printed every itom they would have to publish everything in their books, ■ Mr Osborne thought the agency work done should be specified. Tto (fairman replied that thfi Directors would specify this in their balance-sheet if the shareholders' desired it. ■■" . ~,..-. - Mr Osborne pointed out that at the last tne'eti(ig | Mr_ McGregor, in secohdin'g the adoption ot the report, >d..jajd.-.-that the. Company was not' : a-rn'onoy-making- concern. He wopto to'say tbat there were many 'iharefcofders .who did not have :,much;iwork:idone,« .Theycwonted interest.oni;theif.'money. He"could not understand, either, why there should Bei r rfluctuation in a black-. amitlicpmpahy's Btock,,.'Was,it.motheatenT'"'(lajjghter;)'" 1 "■ "" ' '•" . N The Chairman explained that at ■■*'. the last meeting of ■ the'i'Company a dividend of seven per. cent had been declared.. They could ,eyen now depiare a dividend, but tlie, Directors had considered it unwise to do so. Mr Osborne: AUlwishSto know is whether the Company is to ! be run forthe benefit of one'or two. i:i The Chairman did not think tbisV was so, He pointed 1 out that the#^' . was necessarily a fluctuation.'in the plant of the Company i : He would move the adoption of the report and balance-sheet. ; tt , '',';■; "Mr James M'Gregor seconded. -The resolution was put and carried unanimously. 7 The election of two Direq.tp.rs. to fill the vacancies causedjby the retire* j»? mentby.ballolof Messrs J;-. M'Gregor andT. P, Lett then took place, the result being ! as •'.' follows; James M'Oregbr,- 134; ■T.'P.Lett, 125; O.H.Osborne,B6.;. . Messrs M'Qregor arid Lett . i the shareholders for their roturn, and , slated that they .would continue to I work in the interestsbf the Company. I Mr Osborne also thanks i to those.whoiad votedfdrshim. Messrsß, Brown and'A.iHatliaway : auditors, i tinthembiionOfMtGmlda vote > of thanks was/passed tp'the LJireotora , for their past; eflprts on .behalf of the . Company,'" •,, . • : The meeting then adjourned.