GOLDEN BAY CEMENT COMPANY.

Dominion, Volume 3, Issue 904, 25 August 1910, Page 8

GOLDEN BAY CEMENT COMPANY.

. . ANNUAL •-■ MEETING. •■ . ',' The third annual meeting of the Golden ■■ •Bay Cement Company was held on, Tues-■' Xhe chairman. (Dr. C." Prendcrgast ■ Knight), T in moving the adoption of the report nad ■ balance-sheet (which have al- ■ ready hezv. published) stated that ' the company' had but started working that . week, so there was but little to say. The second shipment 'of, machinery .'.was ex- ■ pected to arrive in a i'ew days from London. Shareholders, were to be congratulated, upon tho fact, that the. capital .of tho company had now been fully subscribed.' .They had-.passed through, a period of great depression, but the directors, had kept pegging away.' Thoso shareholders who had been tho support of ; of the■ company- from the beginning -and during the period of dullness deserved tho ' best thai;ks of all concerned. They had ■ : stood most loyally by the directors, and • had never , made the slightest complaint about the long delay that, had taken place ■ before- commencing, work. .. He thought . . they would lniyo reason to be satisfied with the'future'results. To Mr. Hannay (managing director) hu gave ' unstinted praise for his devotion to tho company's interests.':. He gave practically his whole time to , the company's , business; in fact, '• the board was beginning to .think he was . being- "sweated." . ■ Sir. ,H|inuay, in seconding the juotion, .'■ said tho.jjronei-ty was a very valuablejouo, . and shareholders would find' that, to bo so in days to come. 'He was very well pleased with the machinery so-far as it -. had arrived. The expert from the makers '. - was also' pleased with it,' stating that thu company had.a plant that would give , every satisfaction. He, had just erected a similar plant before he left England for New Zealand, and..that. was working, extremely well. A very little more 'expenditure; when tho timo was -opportune would enable the Golden Bay plant: to turn out six, hundred tons', bt cemeut a week, 'instead of four: hundred tons. Hβ.'" also believed that l.lio comnany's plant would exceed the oirfnut of cement contracted ■ for. Tho. winter'weather .had somewha 1 : delayed outside work, but now.-, that snring was here progress would .be quicker.; 31en had already bequ sent lo : work on tho pronerty in connection with the erection of the plant, and more were going. 'If it were carefully handled, shareholders might congratulate them-, selves uiion having a-very good property. The "report and balance-sheet: wore ndoptcdi '- •••.'.• ' . i ■ TJr. C'.P. Knight and Jfr. Chas. Stewart ■ were rc-i'lectcd directors, and the direc- : ' tors' honorarium was fixed, at JEI2O per- . ■annum. '.',, ... . '■>■■,'■■ Mr.-E. Bucholz .was .re-elected auditor.: at a 'remuneration of fifteen guineas per . » iinnuiu ' ' ' '.■"•■. ' ;"■■ ■. i' ■.. •