GOLDEN BAY CEMENT CO.

Dominion, Volume 5, Issue 1544, 13 September 1912, Page 8

GOLDEN BAY CEMENT CO.

ANNUAL MEETING. The annual meeting of the Golden Bay Cement Company was held yesterday, Dγ 0. Prendcrgast Knight presiding. The annual report and balance-sheet (previously published in The Dominion) were adopted. . Speaking to the motion for the adoption of the report, the chairman remarked that matters generally wore, better than was anticipated last February. Tho balancesheet covered a four-months' period only ho pointed put. The whole of the heavy machinery had been erected without miehap, mid cement of the best quality was now being produced at the works. Frdm independent tests which had been made of the cement which had been placed on tho market, thoy could feel assured that they hod now realised their determination to produce an article which would do credit to the company. The wisdom of appointing to the board of direr.tora men of financial standing had been emphasised by tho fact that when the capital of £SO.OCO was all callcil up, debentures for £25, CM were issued, and these were practically all taken up. Shareholders might look forward, he thought, k> a small dividend next year if tho company progressed as it. was doing now. Thanks to the efforts of their managing director (llr. W. XI. Ifannay), the company was Retting its cement on the market., The speaker referred with pleasure to the cervices rendered by tho company's works manager (21r. M'Laren), to the chemist (Jtr. Strudwickl. and to the staff generally. By the purchase of tho Potara freehold property the company was enabled to erect cottages for tho workmen away from tho dust of tho works. Mr. Banna? Fnid that, ns was nsual in theso and similar undertakings, it had taken, longer to get the works running than had been expected. Tho company was now more than nayine its way. but he could not say, with assurance, that there would lie. as the chairman had hinted, a dividend next s'oar. "A small dividend I said, explained Dr. Knight. Votes of thanks to tho managing director, tho works staff, and the secretary were carried unanimously. Dr. Knight and Captain 0. Jt'Artliur were re-elected directors, and Mr. E. Bucholz was re-elecfccd auditor.