The Leeds Mercury, Monday,
17th December, 1900.
EXCITED SCENES AT SHAREHOLDERS MEETING.
The annual meeting of
the Blackpool Alhambra Company was held on
Saturday. Mr. A. V. Haworth presided. The
balance-sheet showed a total loss of £50,430.
0s.6.d. Mr. Howarth hoped their troubles were
at an end. In July ruin absolutely stared them in the face and
they had to split their connection with
Mr. Lundy at a moment's notice.
Lundy rose to ask the chairman to speak the
truth, when an uproar ensued. Mr. Lundy, the
chairman, and several others being on their
feet at the same time.—The Chairman said he
would have Mr. Lundy removed from the premises
if he was not quiet.
Lundy promised to be quiet and the chairman,
proceeding with his statement, said Mr. Sykes
joined the board, and he and the directors
putting money down saved the company from
liquidation. The company was now
practically free from liability, and he predicted
a successful future. The adoption of the
report having been seconded.
Lundy said it was perfectly untrue that the
directors had to get rid of him. Prior to leaving he tendered his resignation twice because
he did not believe in the methods of the
gentlemen who had the control of the company.
Continuing to speak at great length, Mr. Lundy
was stopped by the chairman, who said the
meeting had been called for business and not
for private affairs.
a later stage the Chairman called Mr. Lundy to
order, and in the disorder which followed the
Chairman called four officials into the room
to put Mr. Lundy out. This brought several
shareholders to their feet, and howls of
protest were heard from all parts of the meeting. The
Chairman said he could not turn Mr.Lundy
out of the meeting as a shareholder, but if he
was disorderly he could do so. He asked Mr.
Lundy to be quiet and that gentleman promising to do so the
further discussion a proposal was made that an
investigation committee be appointed, but this
was defeated. Mr. Howarth was re-elected as a
director, and after some discussion it was
decided to take ever the Hippodrome at £26,000.
extraordinary meeting it was decided to reduce the ordinary share capital from £220,000 to £170,000
by reducing the value of the shares
The Era, Saturday, 22nd December, 1900
meeting of the shareholders on Saturday
last was a most disorderly one. Mr Clement V. Haworth, managing director, took the
chair, and, in moving the adoption of the report, which showed a loss on the year's
working of £50,000, stated that the company had to get rid of Mr Harry Lundy —a
remark that brought that gentleman to his feet with an indignant
Haworth threatened to expel Mr Lundy, who, as a shareholder, was perfectly within
his rights, and explained that he resigned his
position because he did not believe in the methods of the gentlemen he bad to work
with. When he was first engaged he was told that the capital of the company was
£350,000, and that there was a good working balance, but instead of that the
capital was £440,000. He saw nothing but trouble looming in
the distance at the time, and now that be had
left the company he dare not accept another position before he had explained
his position to the shareholders, which was that of the poor little monkey
who had to put its paws between the bars
and take out the hot chestnuts for someone else. He had to do all the dirty
MR LUNDY could not
afford to have his character dragged through the mud. He was engaged for three
years, and only stopped ten months. The company got into difficulties, and he
raised £10,000 for them, although he was not financial manager, and he received
£250 as his commission. When he left the company they entered an action against
him, which cost him £38, and he eventually settled by paying £4.15s., which he
admitted owing them. Mr Lundy suggested a committee of inquiry. Councillor Bridge,
in his remarks, said Mr Haworth had talked " baby talk," and that it was all
tommy-rot to say they had a prosperous career before them.
AT an extraordinary
general meeting which followed, the chairman
moved that the Alhambra, Blackpool Company do purchase the Hippodrome,
Blackpool. The real cost of the Hippodrome was £21,000. The resolution was put and
declared carried amid a scene of great disorder. Later, the reduction of the
ordinary shares-100,000 at £1 each—to 10s. each was resolved