Union Oil, Soap, and Candle Company (Limited).

Auckland Star, Volume XVII, Issue 286, 4 December 1886, Page 5

Union Oil, Soap, and Candle Company (Limited).

The annual meeting of the above Com." pany whs hold at roon on Thursday, November 11, in tho oiiice, Queen, street, Mr Arthur Heather (Chairman of Directors) presiding. About 15 shareholders wore present.. Mr Ponsford, secretany, vend the following report und balancesheet :—

Directors' Report for twelve months ending September 30th, ISXti. -The directors bete to submil to the shareholders the report and balancesheet for tin- lust year's operations, enrlinf? 30th September. ISSii. Tho severe competition which Hie directors referred to in Ilieir last report, and which it was trusted would have passed away ere they n^ain met vim. has, they regret to say, materially tended to reduce tho prolit which mildit reasonably have bean expected on the Increased business of the Company. The balance-sheet shows a reduction iiitlie amount to the debit of prolit n nd loss account (it the commencement of the lust financial year of £1,135 fe 7d, leaving it mnv.only jjiil'J 12s id. The great depression in trade that, exists at the present time, mid tho necessity of keeping tho machinery of tho Company in full work, if profitable returns aro to be made, has induced the directors to consider tho advisability of turning their attention to Other productions beyond soap and candles, and they are of opinion that new avenues for the extension of business can be opened up with a fair prospect of success without adding to the cost of your already valuable plant. Messrs T. ilorrin and .1. -M. Geildea retire from the Hoard by rotation, but are eligible for re-election, and oiler themselves accordingly.—Akt. UkaTHKK, fhainnan.

Pkokit axd Loss Account for Uie year ending September With, !t>'.-'.i.— t'r.: By gross pvotits on iiHiiiuf«i'iui-os, J..;,!i! 10.-i lid: prolit on t::ile I'lirni'll properly, f.\ IV K'.s; rent, of workmen's c.oli.aitos, t:r7 Is Ikl; barl debts recovered, IPs ~d ; trnnsl'uT fees, M. )»:: To wages, salaries, cuminissioii. and travollitis L-ciieiiscs, *3,307 12s id: discount and interest, £.->7S 15a 9d; trade mill tVMory expenses, repairs, and horse feed, £,i77Us 7(1; stationery, printing, and arlvertisitij*. iliK f>s Id : rates ami tuxes tuid rent, i; 173 11)3 (id ; (iro inaurnnce, *'l iO \:'.s 3d; loss oil shipments (allow mill oil, :CMl' 11s ()<1; legal expenses. AIU UsSd; hiul and ilonbli'ui debls, r.171 L's ; balance to credit, £1,i:!3 tis. 7d; total, £(i,UI7 15s lid.

Hai.anuk SHEET for the. year ending September olltli, issi;.— Jjialjilities—To capital account, ;'io,Doosluiro«;it £1 each. £50,000; lees unallotted shares, £13,450; less 30,550 shares at tis, £10,«05; called up capital, £25,555; sundry creditors, i;s,S(il IS-".; overdraft; Bank of New Zealand, X.'M7l 2s lid; bills payable, £SS6 19s sd; total, £33,705 0s M. Assets-]}} (land, buildinKsar.d lnaehiuery, .1119,650 ISslld :siockof raw maierial and liianufaotured yoods. packages, iiiul coal, £?.!»ia 0s ::<l: sundiy debtors, £2,740 2s ild ; candle liiaunracturing in suspense, £1,167 •Is 9d ; unpaid eails, .j/220 ; horse, cart, tools, and oftke furnituro, £115 Us': bills receivable, £120 ISs 7d : unesplred insurances, £56 13s lOd ; petty cash, £4 17s lid ; profit and loss. September 30th. ISSS, £1,751 ISs lid; less profit, £1,135 6s 7d; total, £33,705 Os Id.

These wcro unanimously adoptod. Messra '.'boa. Mnrrin ami John M. Gedf'ea were reolee.ti'd directors, and Mr J. Waimraih wt\s reaiipcintsd auditor.