TONSON GARLICK COMPANY (LIMITED.)

Auckland Star, Volume XXXI, Issue 124, 26 May 1900, Page 6

TONSON GARLICK COMPANY (LIMITED.)

' The annual meeting of shareholders 6_ the Tonson Garlick Company (Limited) was held yesterday afternoon, a good number being present. Mr G. C. Garlick, managing director, occupied the chair. The directors' report waa as follows:—"In presenting their third annual report and balance-sheet, your directors have pleasure in intimating that the past year has been one of activity in all branches of the company's business, and that the returns show an increase of over 15 per cent, over the previous year. Notwithstanding the sharp advances that have taken place in the Home and foreign markets, the company has been able to adhere, to its policy of supplying the best goods at the lowest prices for cash, and the Continually-growing trade, in face of keen competition, shows that the public fully appreciate it. During the yiear several new departments have been opened up, which have turned out ihighly satisfactory. Owing to increased accommodation being required for the manufacturing operations of the company, your directors have-pur-chased the freehold of a large allotment in Lome-street, almost adjoining their present factory, and now have tinder consideration the advisability of building an addition to the factory. Borne of the most up-to-date machinery !has been ordered, part- of which is al-l-eady to hand and at work, and the (balance will arrive in a few weeks, and a new gas engine of double power has replaced the one previously in use. [With these improved facilities, your directors confidently anticipate being able to turn out goods more cheaply and expeditiously than ever, and thus to keep pace with the growing demand. 9?hey recommend that a dividend at the trate of eight per cent, be declared, ffwo directors, Messrs G. C. Garlick and C. Rhodes, retire by rotation, but are eligible, and offer themselves for tre-election. The auditor, Mr S. H. Matthews, retires, but offers himself lor re-election." The Chairman, in moving the adoption of the. report and balance-sheet, congratulated the shareholders on the expansion of the business during the year, in spite of growing competition. During his visit in March last to Aus* tralia and Southern New Zealand, he Ihad abundant evidence that the company occupied the very front rank In its own line, and had premises second to none. When all the new machinery (Was fully installed in the factory, and the contemplated extensions to the game were completed, they would possess one of the most compact and modern factories in the colonies. Mr Bycroft seconded the resolution. Mr A. Dewar said that New Zealand .possessed such advantages for manufactures that after 25 years' residence in Australia, he believed with *'the open door" our goods would be increasingly in demand over there, and j_e saw no reason why the, company should not some day open up a profitable trade in that direction. He had much pleasure in supporting n the motion, which was unanimously adopted. The retiring directors, Messrs Geo. C. Garlick and Chas. Rhodes, were on the motion of Mr J. A- Parker, seconded by Mr J. H. Field, re-elected. Mr fieering H. Matthews was re-elected auditor.

An honorarium of £100 was voted to the directors for their services, and a aresolntion'of thanks--to-the; directors staff was prp.px>3«L-kyvMr A. E. Glover, and seconded by Mr Geo. Gregory, and carried by acclamation. In acknowledging the vote of thanks, the ChairmaA intimated that the dividend would be payable on and after Monday, May 28.