MOSGIEL WOOLLEN CO.

Dominion, Volume 7, Issue 1904, 12 November 1913, Page 4

MOSGIEL WOOLLEN CO.

ANNUAL MEETING. ' (By Tjlcgraph—Press Assoeiation.) . Dunctlin, November 10. Tho annual meeting of shareholders of the) Mosgiel Woollen Factory Company waa held to-day. Tho Hon. T. Fergus, acting-chairman of directors,- presided. .Tho annual report stated that tho mill had been constantly employed, and the amount of wool put through the' machines was greater than in any previous year. The profit and loss account, after writing off £3CCO as depreciation and making special provision of £1500 for machinery now on order, showed an availablo balance of £8216 ss. 6d. The, directors recommended that' a dividend of 7 per cent, bo p.aid, amounting to £5842 os. 6(1, iatvsng £23H 6sl to. bo carried forward to t-hci new profit and loss' account. The chairman, in moving the -adoption of tho report and balance-sheet, congratulated shareholders on- the completion of tho fortieth year of tho cotajparty's existence. Speaking with reference to the bal-ance-sheet, ho said the ' company's position had improved. Op- the side of liabilities loan:; payable bad been redueod by .£3OOO, being now £"10,000, a3 again-sst £13,C00 on October 6, 1912. During the year the directors paid off tho ittde-btedneEa on tho Dunedin warehouse. On the assote side £2099 Os. 2d. had been spent on machinery and £4183 19s. Bd. oh buildings. The factory had been vastly improved and room made for tho extension of machinery, and concentration and economic working of the mill effected. Roods ffi-anu.factiired, in process, and raw material wero £221? higher than the previous year. The turnover for the year had been mast satisfactory, and the wool cohsuajupt-ion as great as in previous years. The goods account credit appeared at £-21,789 3.65. lid. The -motion was seconded by Mi\ C. Ford and carried.

Tho retiring directots. the Hon, J. B. Sinclair and Mr. J. T. Hislop, were reelected, and 3fr. Peter Barr and Mr. David Crawford were reappointed auditors. A vote of thanks was passed ts tho. management and staff.