COMPANY MEETINGS.

Levin Daily Chronicle, 1 December 1917, Page 3

COMPANY MEETINGS.

Tlie sixteenth annual meeting of Ab. raham and Williams;, Ltd., was held in Palmerl-ton last week, Mr It. S. Abraham presiding. The directors report stated that the net return for the 'year after making full allowance for all expenses of management, taxation, bacl and doubtful debts. 10 per ccnt, war bonus to staff, half-pay to officers at the front, etc., amounted to £16,145 19s sdi, to which must bo added the sum of £3478 Q-- 8d brought forwardi from last year, making a total of £19,624 Os Id for distribution. Payment of au 8 per cent divtdoncl on ordinary shares and C per cent on preference shores was recommended. A sum of £5000 lias been added to tho reserve account and £1200 to taxes reserve account, which accounts now stand; fit £30,000 and £10,000 respectively, and tho balance £4307 14s lid carried forward. The estimate of taxation for the current year approximates about £7000. The successful inauguration of business at Taumarunui has necessitated a further extension of the company's business to To Kuiti, where the prospects are limited only by the extent of the capital. Messrs O. 11. Po'rr'itt and 11-. E. Beckett, retiring directors offered themselves for re-election. The directors' recommendation* were adopted.