N.Z. DRUG COMPANY.

Auckland Star, Volume XXXIX, Issue 70, 21 March 1908, Page 4

N.Z. DRUG COMPANY.

AKNTJAL MEETING. -..J ; ' ffiy Telegraph.—Press Association.) ; . ' DUSTEDIN, Friday.;.'. The annual meeting of shareholders in Kempthorne, Prosser and Co.'s New. Zealand Drug Company was held to-day. The Chairman (Mr. Bathgate), Jα moving j the adoption of the report and balancesheet, said that the reserve on customers' accounts was £2992, and the fire insurance reserve £605 (an increase of £343 on last year. The Chairman explained that, though the sre cover was fairly satisfactory, every opportunity had been taken to increase it. A source of safety from serious disaster lay m m W* fact that the cover extended over eight different risks in the four centres. The staff fund amounted -to £3320, open accounts and liabilities to £79,352, and bills payable to £11,223. The stock was valued at £175,486, and land, buildings, plant, and machinery at £102,737, as against £99,559 last year. The book debts owing totalled £56,566, as against £59,955 last year. Bills receivable in hand amounted to £966, and cash in bank £3274. The Chairman said that business during the past year had been satisfactory, and he thought the company could look forward to the coining year with confidence. The motion was carried. Messrs. George Sievwright and John Mill were re-elected directors, and Messrs. W. R. Holmes (Auckland), C. P. Powles (Wellington). G>. W. Hulme (Christchurch), and William Brown and Co. (Dupedin), auditors.