FAIRHAVEN ESTATE COMPANY. 

Yesterday afternoon the annual meeting of shareholders was held at Fairhaven. Mr. T. Riley J.P., presided, and the directors present were Mr. Gardner, Mr. H. Fisher, J.P., and Mr. G. Blundell, and a number of shareholders.

The Chairman described the work of the past year: further laying out of the estate, improvements of the foreshore, and the division of the golf links necessitated by the breach in the promenade in October last. There were now eighty houses on the estate, and the new hotel of Messrs. Boddington and Co. was almost completed.

Ground rents for the land sold during the past year would become payable during 1897. The tramway along the estate was completed, and the outlook for the coming year was more hopeful than it had previously been. The balance sheet and report were unanimously adopted, the five per cent dividend on preference shares having been paid.

Mr. Fisher was the retiring director and he was re-elected, as were also the retiring auditors, Messrs. Thorp and Ainsworth. After the meeting the shareholders were conducted over the estate to view the improvements.

It was incidentally named that there was a large demand for houses at the St.Annes end of the estate, and that there were numerous inquiries for the houses tow building near the lake.

It was pointed out, however, that it was not the purpose of the Company to undertake the further building of houses, but rather to sell the land and encourage building by others.