THE DRUG COMPANY.
HOW THE DIVIDEND IS EXPLAINED. By Telegraph. —Press Association. Dunedin, last night. The Chairman of the Drug Company, at the annual meeting, after referring to the tariff charges, said he would abstain from reflections on the action of the Government in refusing to suspend the tariff till stocks were cleared, and would leave the morality of the whole proceedings to the consciences of those who needlessly inflicted injury, Tho Company sustained heavy loss, but he was not sure it was in their interest, or that of the Company, that they should publish the exact figures. He might tell them, however, that, after the sales of those high tariff duty-paid stocks at the reduced tariff for a period of five months they found that, in addition, they had had as at January Brd to write off before stocktaking no less than £2875, being the reduced value of stock then held, and on which they had paid higher tariffs. However, as they saw no possibility of redress, they determined to push on the business with, if possible, extra energy, with a view to recuperating the loss and paying the usual dividend for the year. He was pleased now to be able to say the results of the year’s operations justified them in recommending that the full dividend for the past year he paid.
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Bibliographic details
Gisborne Times, Volume V, Issue 65, 20 March 1901, Page 3
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224THE DRUG COMPANY. Gisborne Times, Volume V, Issue 65, 20 March 1901, Page 3
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