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The Cyclopedia of New Zealand [Wellington Provincial District]

Wellington Patent Slip Company, Limited

Wellington Patent Slip Company, Limited, National Mutual Buildings, Wellington. Directors, Messrs.E. Pearce (Chairman), H. Beauchamp, F. A. Krull, A. E. Pearce and J. E. Nathan. Auditor, Mr. E. W. Mills. Bankers, Bank of Australasia. Engineer and Manager, the Hon. Edward Richardson, M.I.M.E., M.L.C. This Company was established in 1871, with a capital of £30,000, with a subsidy of 7 per cent. from the Provincial Government for twenty-one years. On the expiry of this term, the Company was reconstructed, with a capital of £9156, in 3052 shares of £3 each, fully paid up. The freehold land, buildings, slip, plant, etc., are valued at £11,000. The Company has been a dividend paying one for many years. The balance-sheet for the year ending March 31st, 1895, shows a balance of £4207 6s. 7d. at credit of nrotit and loss. A dividend at the rate of 5 per cent. was paid, £2000 page 795 was set aside as a reserve fund, and a balance of £1749 10s. 7d. was carried forward. The number of vessels taken on the slip during last year was ninety-three. Further reference to the Patent Slip Company will be found in the description of the Wellington Harbour Board.