NEW ZEALAND TRUST AND LOAN COMPANY.

Waikato Times, Volume XXXI, Issue 2522, 8 September 1888, Page 3

NEW ZEALAND TRUST AND LOAN COMPANY.

Tiik annual general meeting of the New Zealand Trust and Loan Company was held at the London offices of this Company, Sir Charles Clifford in the chair. Sir Charles said that this was the silver jubilee of the company, namely, its 25th anuiversavy. When they came of age at their 21st meeting they were certaiuly in a more robust condition than at the present moment. Nevertheless they now showed no si„ns of decrepitude creeping over them. Though they did not declare the large dividends they were in the habit of paying during the more prosperous state of New Zealand they were able to declare a legitimate dividend of 14 per cent per annum, which, in these bad times, was certainly not to be despiwk There was a new item in the batsnce-shect, namely, £10,000 put to suspense account, and of course, dcdncte J from the reserve fund. The cash at the bankers at Christchurch showed an increase of over £35,000, which had been put ou deposit at low interest. The amount of investments in New Zealand showed a decrease of about £36,000, which was just about the sum they had on deposits. He thought that New Zealand would soon rise again to a state of prosperity. All that was wanted was increased population and more confidence in the country. There was no scarcity of money. They had real and personal property to the value of £179,000,000; banking deposits of £10,500,000; deposits in savings banks, £2,000,000 ; cattle, 550.000 ; sheep, 16,500,000; produce of wool, 90,000,0001b; butter and cheese, of which large quantities now come to England, 17,000,0001b ; mutton sent to England, SOO.OOO carcases; output of coal since 18S2, 534,000 tons. The imports and exports of the colony together amounted to about £14,000,000 ; and he believed the public creditor was as safe with his New Zealand Government stock or bonds as the holder of 2£ per cent, consols. The report was adopted.— Herald correspondent.