PUBLIC COMPANIES.

Auckland Star, Volume XXVIII, Issue 259, 28 October 1897, Page 5

PUBLIC COMPANIES.

The shareholders of the Tonsbn Garlick Company held their first general meeting on October 4 in the temporary premises occupied by them in Hoffmann's Buildings, Elliott-street. Mr J. T. Garlick (chairman of directors) presided, and there were about thirty shareholders present. The Secretary read the directors' report, as follows: —

The directors have much pleasure- in meeting- the shareholders at this the first general meeting of the Tonson Garlick Company, and congratulate them on.' having acquired such a valuable concern as the property and business of Mr J T Garlick, established 23 years ago. During the six months—March to August 30—the returns this year show an increase over the corresponding period last year of £3,500, and we trust the remaining portion. of the financial year's operations may be equally gratifying. We regret that on the night of the 16th September an extensive fire broke out in the Queen-st. premises doing serious damage to stock and building, which however was fairly covered by, insurance. Arrangements have been! made for carrying on business as usual at a portion of the Queen-st. property, and at temporary premises in Elliott-st., where a salvage sale is now proceeding. NotWithstanding the fire we are executing all orders entrusted to us with as much dispatch as possible. The new building willbe pushed on as rapidly as possible, and we hope within a few months to have finer premises and to be in a better position than ever for business, which wa do not anticipate will suffer any very. material check from this interruption. The" directors recommend the payment of an interim dividend for the three months ending September 30th, at the rate of lft per cent, per annum. According to the" articles of association all the director* retire, and now offer themselves for. re-election.

In. movingl the adoption of the report, the Chairman referred to the growing success of the business duringl the past 23 years, the formation in June last into a company, all the 30,000 shares being allotted, the extensive alterations to the premises, the late fire, and the salvage sale, which had been an unprecedented success. It was intended to make the new premises thoroughly adapted to the various branches of the furnishing trade, and the directors had every confidence in the future progress: and prosperity of the company. Mr A. R,. Watson seconded the adoption of the report, which was carried unanimously.

Mr W. Tliorne proposed that the retiring directors be re-elected, and, on Dr. King seconding the motion, it Was carried.

Mr Glover moved, and Mr Montgomery seconded, a hearty vote of thanks to the directors for their services, which was adopted heartily.

After Mr J. G. Culpan and Mr Garlick had replied, the meeting terminated.

The dividend will be payable on and after Thursday, October 7th, at the Elliott-street premises.