|Wellingborough News, 26th July 1884, transcribed by Kay Collins
RAUNDS HOTEL AND COFFEE TAVERN COMPANY, LIMITEDThe first annual meeting of the shareholders of this company was held in the Reading-room of the Coffee Tavern on Monday evening. In the absence of the chairman Mr. A. Fisher took the chair, The secretary not being present, Mr. J. Gant submitted the report, made up to the 31st May, and also a more detailed statement of the receipts and expenditure of the capital account, with explanatory remarks on the various items, from which we gather at, the total cost of the Coffee Tavern, fittings, furniture &c., has been approximately £1,124 8s. With regard to the trading account the balance-sheet showed no returns, but it was stated for the information of the shareholders that during the month the Coffee Tavern had been open the receipts had been £81 8s. 1d., which was considered very encouraging indeed. It was further remarked that if the receipts could be maintained at an average of even £13 a week there was no fear but that a good dividend could be paid to the shareholders, and this business the Company had every prospect of doing, if not exceeding. A third of the directors having to retire, Messrs. J. K. Smith, W. Hills, E. J. Whitney, and A. Fisher, retired by agreement, and were unanimously re-elected. A vote of thanks was accorded to the retiring auditor, and Mr. Horrell was appointed for the ensuing year. The share-holders recommended the directors to convene an extraordinary meeting of the shareholders about three months after the opening of the Tavern, and lay before them the business of the three months. It was decided to let the remainder of the unallotted shares remain open to shareholders and non-shareholders alike at £1 each until the said extraordinary meeting. Some other minor matters of business having been discussed and disposed of, a vote of thanks was accorded to the directors for their past services and the proceedings, which were of a very encouraging character to the promoters, and very satisfactory to the shareholders generally, terminated.