MILNE AND CHOYCE, LTD.

Auckland Star, Volume LIX, Issue 222, 19 September 1928, Page 4

MILNE AND CHOYCE, LTD.

ANNUAL MEETING TODAY. EIGHT PER CENT DIVIDEND. SUCCESSFUL YEAR REVIEWED. The annual meeting of shareholders in Milne and Choyee, Ltd., waa held to-day, Sir George Elliot (chairman of directors) presiding. In moving the adoption of the report and balance sheet, already published in these columns, and which provided for an eight per esnt dividend, Sir George congratulated shareholders upon the excellent results attained. Hβ stated that sales during the year had increased, and at the same time trading expenses had been reduced. Extra depreciation had been written off plant and fixtures, and ample provision had been made for bad and doubtful debts. Stocks on hand, he said, were well assorted, new, and conservatively valued. The firm, added Sir George, was now , in its 62nd year. It was an old firm, but was perennially young, being thoroughly up-to-date. The motion was carried unanimously. A vote of thanks to the directors and staff, moved by Mr. W. Nagle, was unanimously carried, and was responded to by the managing director, Mr. Stuart Milne. Mesere. Wra. Elliott and H. C. Choyce were re-elected to the directorate, and Messrs. Norrie, Duncan and Gyllies were re-appointed auditors.