N.Z. DRUG COMPANY

Dominion, Volume 8, Issue 2418, 25 March 1915, Page 8

N.Z. DRUG COMPANY

ANNUAL MEETING. (Bt Telegraph.—Pre?s Association.' Dunedin, March 24. The thirty-sixth.annual meeting # of tbo ITew Zealand Drag Co. ivos held this afternoon, Mr. A. Bathgate, chairman of directors, presiding. The annual report stated that the unappropriated balance brought forward from last year was £3094 18s. sd. and the net profit for thi6 year £23,459 7s. 9d., making £26,554 6s. 2d., less interim dividend for the half-year , to July 31 at 7 per cent, per annum £9266, leaving to oe dealt with £17,288 6s. 2d. The directors recdmmcnd payment of a dividend at the rate of 7 per cent, per annum for the second half of tho past year, £9275, to write off the Burnside buildings £1000. to write off the Dunedin warehouse building £500. to add to general reserve £1000, and to carry forward £5513 69. 2d. In moving the adoption of the report and balance-sheet the chairman stated that, after the outbreak of war things gradually settled down, and the second half of the year showed only a slight felling-off in Teturns; Part of the Auckland works was now in running order, and it was expected the full plant would be in operation somo time in July. The report and baJance-sheet were adopted, and the retiring director/! and auditors were re-elected.