WILLIAMS & KETTLE LTD.

Gisborne Times, Volume XXVI, Issue 2215, 12 June 1908, Page 2

WILLIAMS & KETTLE LTD.

ANNUAL MEETING.

(Press Association.) NAPIER, June 11. The annual meeting of Williams and Kettle, iLtd., was hold to-day. The annual report, which contained the following, was adopted : —The net profits for the year, after providing lor all necessary depreciations and had debts, amount to £15,537 12s Bd, to which has to bo added an undivided halamce from last year of £1751 12s. The total available for allocation of £17,292 4s Bd. The directors recommend that this shall bo appropriated a» follows: In payment of a dividend at the rate of 7 per cent, per annum and 1 per cent, bonus on capital; a bonus of 14 per cent.'on all goods purchased hv shareholders; 10 per cent.-on commissions contributed by shareholders; £2500 to ho placed to reserve, and the balance carried' forward. Tlio report says: “During the year the business of the company has considerably increased, and in consequence your board deemed it advisable to raise the company’s nominal cipital to £250,000 b” the issuh of 20,000 .additional shares at £5 each, £3 per share to he called-, up, payablo on allotment, or at intervals, as provided hv the Articles of Association, at the shareholders option.”

The retiring directors, Mess-rs B. Oh imbers, L .H. McHardy. and N. Kettle, were re-elected. The annual bonus of £650 was voted for distribution amongst the staff.