AUCKLAND BRICK AND THE COMPANY.

Auckland Star, Volume XXVI, Issue 4525, 29 November 1884, Page 2

AUCKLAND BRICK AND THE COMPANY.

TnE first annual meeting of the directors and shareholders of the Auckland Brick and Tile Company (Limited) was held yesterday afternoon, in Mr Greenwood's offices Vulcan Lane; Mr D. Fallon, Chairman, There woro also present:—Messrs P. Lnnigan, G. Fraser, J. Black, J. T. Knight W Anderson, H. Eees George. H. Green r' C. Greenwood, and W. H. Cooper. The directors' report and balance-sheet were' brought up, showing that the works at Avondale are now making pressed bricks to the satisfaction of the directors and of those shareholders who visited the works recently ; that the Hobsonville works have been put in a thorough state of repair, and' two new kilns have been erected 'with drying sheds and other improvements Sanitary pipes, and other goods of alike class, have been manufactured for gome months past, of a superior quality and with satisfactory results. Although there has been a considerable outlay in laying out the works, the directors consider the future very hopeful, as there is a large demand for bricks and potteryware, and the Company have the necessary machinery to make a first-class article to meet it.

Balance-sheet.—The balance-sheet for the year ending October 31st, 1884 was presented, and was as follows :— '

Liabilities.— National Bank, L 2 357 lfa rA ■ cheques not presented. L 22 16s 3d ; creditm-si*' perschedxile, LI2G 33 Id ; bills payable Tfi*s 10s Id; morteaue, Hobsonville, LI 250" ■ tiifii toatai!&"lo"' 33l0d: balanCe> :U- 553*«82d: Assets.—Freehold land, Avondale Ll 01212« machinery and plant, Avondale, L 3.678 Soft?. permanent works, Avondale, L 2.592 13a lfl' freehold land and permanent works Holinm." ville. L 2.416 18s 7d; machinery and dß' Hobsonville. L2!512a Sd ; Hobsonville stock m : per schedule, L 153 6s 9d: coals and stores' « per schedule, L 217135; bills receivable LlMdebtors, as per schedule. L 219 3s lOdj'Aurk' land depot stock, as per Bchedule, LU7 ibb". deposit Government contract, L 5; prelimln^ expenses, LIOU Us Cd; total, L10.91810a. unary

Capital Account.

Dr.—Capital, 4,000 shares at L 5, L2O 000 > total L 20.000. IUHU»

Ur — Bnlanco, beinf? surplus, 14,553 6s 2d • iin allotted shares. 2,800 at L 5, LI4.080; uncalled oS! 1,200 at H, L1,200j profit and loss L2l6l3gioip

Profit and Loss,

Dr.—lnterest, L23t 4slid; management. L2di 118 3d: insurance, L 37 5b 6d; rent Auckland fdTuiufaiftSf 1 me expeMeß> m 2 * ! CB.-Hobsonville works. L64012s sd; trannfor tees, 18s 6d; by balance, L24613s lOd: total, LBBg • Several questions were put to the Chair-; man by Messrs Green, George, and Greenwood as to the operations of the Comany at Hobsonville. The gross pro fits were 50 '. per cent., which left, after deducting cosfcof^ production, rent, transit, commission, etc'f, a clearprofit of 25 per cent.—On the motion of the Chairman, seconded by Mr Lanigan these documents were adopted. *

Memoranda of Association. —On the" motion of Mr Rees George, seconded by Mr " Fraser, amendments were made in Clauses 5 and 6, enabling the directors to make monthly calls of 2s (id, instead of 10s calls ! at longer perieds. It was also determined that the unallotted shares (1,209) should bo allotted to shareholders—ss on application, 6s on allotment, and 5s at the end of tne month. ■~.;'• '■:-.& DißECions and Auditob.— Messrs Fallon and Black were re-elected on the directorate, and Mr T. A. Menzies was elected auditor at five guineas an audit—two in tho year. At the close of the business,", the " Chairman congratulated the shareholders on the condition and prospects of the*; Company. The preliminary difficulties had :J* been overcome, and he believed a rich future was in Iho npar distance. A vote of thanks to the Chairman closed the meeting.