GOLDEN BAY CEMENT CO.

Dominion, Volume 8, Issue 2560, 7 September 1915, Page 8

GOLDEN BAY CEMENT CO.

f . 'ANNUAiL MEETING. The annual'meeting of tho Golden Bay Cement Company. was held in the Accountants' ' Chambers at iioon yosterday. Dr. Preridergast- Kndglit, cliairmoji of directors. presided. In, moving the adoption'of the. annual report (already published), ,Dr. Knight* tnid"lt is tho eighth balance-sheet' that has ■. been , placed before yon, end it .is the' first-that- recommends the; payment •of -,a dividend. This'is' an instance of wihat pioneers of a now industry have. to face—the loss of interest on their money for a period- of ;, yeana But for the .war we would have' been-; able to have declared; a dividend last year. '.It may be nslied,; seeing that shareholders'- have. had -no dividends for eo ■ long, '.why ■a. larger, dividend was .not ■ declo-redi. on, this '.occasion. Out; answer, to this question-is that, it is true wo liave earned a' larger aanoiuint than I we propose to pay out,-but we'.are Ifring in troublous: times,\' and- circuit stances - -which enabled U8 to seU tt considerable amount of cement to Australia.* this, year may not recur again;, :partU' -because of t<he tariff ■rail, at present onir - cement- is chargeable with the saino duties in, Australia ae wero charged :on German. cement ..before. ~tho war and- on Japanese. cement. to-day, 'and •partly because of possible adiyerso financial conditions in that country affecting the! demand.'-' There as . afeo .the prospect 1 at , trade oomprltitiion next yeair, ;ivit'K .the advent.of new works both, in New Zealand and' Australia; so that it is-no ..doubt prudent to keep this com-" paniy in a, : strong financial position' such as.we.enjoy to-day.'■. He then dealt'with, tho figures "of the.. balance-sheet. . .Captain M'Arthiir, as 'one of; t,he original directors,' congratulated - the'shareholders .on', the declaration'.of 'tho first; .dividend. He believed.they;had a firat-ralo proposition—.one that was second to none in New Zealand.. i •■ ' : The report,: which provid-ed'for tlie: payment of .a 6 per cent.' dividend, was 'then adoptod.- • , Messrs.' J. -A. Plimmer. and-Dr. P. Knight ■were re-eleotod :-directors, , and-; ITr.!' B. Bucholz and Messrs.; Oiarkb and Menzies mere aippointed .joint'auditors, y MINING NEWS -WELLINGTON SHAKE MARKET. There Trere ■ '.no . transactions, ' in the nuning. .market yesterday..'■ Tlio quotations ■were asunder:— 1 • 'v Bayers. BoUcrj.- ' £ s. d.. £ s. d. Murray Creek, (old) . 113 0 ■ 20 .0 Murray's lieehold:,. " 15 0 lWisman -, 018 3 . — "WCLllli ; ........ 116 0 — . Grand Junction ; ............ 1' 0 9 ; — , STOCK EXCHANGE. fßy Telegraph.—Press Association J Chrlstchurch, September 6. Sales reported:—Stockton," ,6s. 4d.; National Insurance,- £2 4s. -Si'}. Whitcombe . and-Tombs, £5'135., 6d. (2 parcels). - ■ Dunodin, September 6. ' The,,foHoiviag ■ sale was ' made on the Stock -E'xofoa-ngc ; tcdayWc&tport Ooal,. £1 Js. 6d. •' ' ! i-.-'". ■ '■••. ' " OH.B EXTRACTION IN WESTERN AUSTIUUA. . By Telegraph—Press -Association—Copyright. - Perth, September 6. :. To the end of June the' State:.batteries treated 1,039,G92 tons; of ore, extracting bullion valued at £4,277,301. Sixty-nine thousand seven -hundred and forty-eight tons of • tin or© were treated, for.,ft re--.turji vaiuod at £86,222.;