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Wairarapa Daily Times, Volume XVI, Issue 4989, 30 March 1895, Page 2

"We consider that the Blacksmiths and Wheelwrights Company, in this town, is to be commended for passing its dividend this year. Some companies, under similar circumstances, would have paid one, but this pavticularCompany is toohonest and scrupulous to do so, unless it finds that it has earned a profit, fairly and squarely, on tho jroav's

transactions, Of course business, during the past year, was move depressed than in the previous annual period; but even when business was brisk, the Company did not show a reasonable margin of profit. The reason of this is that the concern was originally floated with too little capital, and as yet a certain difficulty which stands in the way of extending its resources has not been faced and conquered. The concern is a souud one, but its positionis capable of beingimprovsd. If it is to make headway its capital will have to be enlarged, its returns increased and its expenditure reduced. It requires business aptitude as well as experience and integrity to make any Company pay in these dull times, and it is 110 discredit to the farmer Directors of the Blacksmith and Wheelwright Company that during a dull year they have made but a nominal profit. Indeed they umy bo congratulated upon having escaped loss.