A very excellent report of work accomplished was presented on Monday at the final meeting of the British Flower Shop, Ld. (in liquidation).
Mr. E, S. Wilkinson, the liquidator, presided and presented the following report:
Gentlemen, the report and accounts have been in your hands for some time and with your permission I will follow the usual procedure and take them as read. I think you will find the statement of receipts and payments is quite clear, but if there are any questions I will do my best to answer them, You will remember that one of the conditions of sale was that the purchasing Company should remain entirely British for a period of five years from the date of sale, under a penalty of $5,000 to be paid to the liquidator or his nominee. In order to avoid tha expense and inconvenience of keeping this liquidation open for five years, I have arranged with the proprietors of the present British Flower Shop to accept the furni of Messrs. G. H. & N. Thomson as my nominees for the purpose of this agreement. The purchasers have given an undertaking' to produce an auditor's certificate concerning their capital every year for the next five years and, in the unlikely event of any of their capital having passed into non-British hands, tha penalty called for would be aid to Messrs. G. H. & N.
homson for distribution to charities.
In conclusion, I would like to take this opportunity of congratulating the directors and shareholders, and the manageress of the late: British Flower Shop, on the remarkable result which they achieved in distributing the large sum of $50,000 to charities out of the profits of a small company with.a capital of only $5,700. Ip course of my duties as Liquidator I have received many letters of grateful thanks from the societies and institutions which have bnefited by these distributions, and I think it is my duty to inform the olders officially how deeply the results of their enterprise have been appreciated, Before: asking you to pass the report and accounts I will be glad to answer any questions which May occur to you.
There were no questions, and the, following resolutions, proposed by Mr. J. C. Bosustow and seconded by Mr. H. W. Lester, were formally carried:
That qhe liquidator's report and statement of accounts dated aurel ie, 1993, be adopted and That the books, accounts and
Text read from the printed page and cleaned; old type leaves the occasional error.