KAIAPOI WOOLLEN COMPANY.

Dominion, Volume 4, Issue 1216, 26 August 1911, Page 6

KAIAPOI WOOLLEN COMPANY.

THE ANNUAL MEETING. (By Telegraph— Press Association.) Christchurch, August 25. Tho annual general meeting of shareholders of the Kaiapoi Woollen Manufacturing Company was held at tho company's ollioes tliis afternoon. The directors' annual report slated that shortly after the last annual meeting applications had been received for the remainder of the shares unallotted. The full authorised capital of the company had now ]>ecn issued, and was nearly all paid up. The new articles, as approved at an extraordinary general meeting, had been in operation during tho year. The result of the year's operations had left a balance to credit of profit and loss account sufficient to enable the directors to recommend tho usual allocations. As tisual stocks had been carefully taken, and all known had debts written off. The properties and plant were in good condition, tho sum of .£1782 having been expended in repairs, and X-1000 provided for depreciation. The profit and loss account, after payment of interim dividends of i£s29t 18s. 9d., showed on avnilablo surplus of ,£11,172 25., which tho directors recommended should bo allocated, as follows :—,£7550 18s. for payment. of, dividend, making for the'year 7 por- ceilton ordinary and .Gs. per cent, on preference shares; X'lsoo to reserve fund, and the balance, '.£2121 Is. to be carried forward. The report was adopted.