SUN NEWSPAPERS, LTD.

Sun (Auckland), Volume IV, Issue 978, 22 May 1930, Page 13

SUN NEWSPAPERS, LTD.

ANNUAL MEETING OF SHAREHOLDERS The fourth annual meeting of shareholders in The Sun Newspapers, Ltd., was held at The Sun Office today, Mr. Robert Burns, chairman of directors, presiding. . The directors’ report and statement of accounts were submitted to the meeting. In moving their adoption, Mr. Burns said: “A? you are aware, financial conditions throughout New Zealand have been far from buoyant, but in spite of this our business has made steady progress. The circulation of both of our papers in Auckland and Christchurch has expanded considerably, as compared with the previous year, and the advertising revepue continues to grow.

"When we met here a year ago some shareholders were more or less concerned with the announcement that one of our competitors had acquired two newspapers in Christchurch, and would be likely to engage in competition which would perhaps be to the detriment of our business down there. I am pleased to be able to assure shareholders that this development has done us no harm whatever. ‘The Sun,’ Christchurch, proved quite capable of holding its own. It increased its earnings substantially and showed a larger net profit than it earned during the previous year. ‘The Sun’ in Christchurch is still carrying a larger volume of advertising than either of the papers referred to. “The position as far as The Sun in Auckland is concerned is that the business is still being developed in the face of strong competition. The paper is growing steadily in popularity, and its value as an advertising medium is becoming more generally recognised on all sides. With the passing of the depression, increased earnings can be expected, and we ask shareholders not to be impatient for an early return, but to co-operate with us in supporting the paper themselves, and by using their influence to popularise it among their friends. «*»*#**iS “During the year the efforts of the staff have been directed toward improving the standard of the paper. New and interesting features have been added, and as a newspaper I think shareholders will agree that it leaves little to be desired. Throughout the world there have been great developments and changes in the newspaper business. An era of intense competition and activity has succeeded a period of stagnation. In England this competition has taken the course of a fierce war between several very wealthy and powerful organisations, with the result that new papers have made their appearance in the large provincial cities, and at the present moment they are being conducted with a vigour and an enterprise that is quite new in the history of English journalism. So far from competition being regarded as a disadvantage, it has been welcomed on all sides by advertisers and the general public. English advertisers have discovered what Auckland advertisers are a little slow in learning, that competition among newspapers keeps down advertising rates to their true economic level and gives the advertiser service and atterition that he can never hope to receive when there is monopoly in any particular newspaper field. There is no doubt whatever that The Sun has saved advertisers in Auckland thousands of pounds and has given the public vastly improved newspapers. For this reason it is entitled to the fullest measure of support. “The company’s plant has been maintained in good order during the year. In Christchurch wetfhave added a process engraving department for the production of our own illustration blocks. This was formerly done by contract, but with the demand of the public for more and better pictures in the -paper we decided we should be in a position to do this .work for ourselves. “In conclusion, it should be hardly necessary for me to assure shareholders that the whole staff is working hard and loyally to make a success of the whole undertaking, and that nothing is being overlooked or left undone to produce results that will be satisfactory to the shareholders.” Mr. G. Winstone, jun., seconded the motion, which was carried. The retiring directors, Messrs. G. T. Niccol, of Auckland, and J. I. Royds, of Christchurch, were re-elected. Messrs. W. E. Best and Wilkinson, Christchurch, and Wallace Bruce, Auckland, were reappointed auditors.