AVONDALE BRICK AND POTTERY COMPANY.

Auckland Star, Volume XXXI, Issue 294, 11 December 1900, Page 2

AVONDALE BRICK AND POTTERY COMPANY.

Tlie annual meeting of shareholders in the Avondale Brick and Pottery Company was held to-day in Mr. Geo. Elliott's office, when 3lr. J. J. Craig presided. Directors' Report.—The report of the directors was read as follows: Your directors have pleasure in presenting their first report and balancesheet, and congratulate you upon the result of the year's business. The building trade has continued busy during the year, and the output of bricks was just equal to the demand, there being at this date no surplus stocks. The machinery and large kiln have recently been overhauled and put in thorough repair. Extensive alterations and additions have beeu made to the tramway, and two new sheds have been erected for the purpose of enabling the clay to be thoroughly mixed in order that tbe quality of the bricks may be improved. These additions have been in use for about a month, and the manager reports that they, have proved most satisfactory. Your directors bad an opportunity of acquiring 20 acres of additional land adjoining the works, which carries excellent clay for brick-making purposes. With the view of maintaining the permanencj- of the company the ground was purchased on very favourable terms. The outlook for the coming year, is exceedingly bright, and your directors anticipate doing a profitable business. A reference to the balance-sheet will show that after writing off 2\ per cent, for depreciation upon buildings, plant and machinery,, a nett profit of £1543 0/2 was earned, and, after the payment of an interim dividend for a broken period, a balance of*>£l34l 6/9 remains. From this sum your directors recommend the payment of a dividend at the rate of 8 per cent, per annum, and; £100 for directors' honoraria, carrying forward the balance to next ye_r. In accordance with the articles of association Messrs. H. A. Gordon and Charles Rhodes retire from the directorate, but, being eligible, offer themselves for re-election. Mr. R. E. Isaacs, the auditor, also retires, and again offers his services to the company.

The balance-sheet showed total receipts £2341 3/3, of which £2271 14/3 was gross profits. The expenditure left a. credit balance of £154S 0/2, of which £206 13/5 went in the interim dividend, leaving a credit balance of £1341 6/9. The Chairman moved the adoption of ihe report and balancesheet. This was seconded by Mr. C. Rhodes and adopted. The retiring directors were re-elected, and Mr. R. Isaacs was again appointed auditor.