WILSON'S PORTLAND CEMENT.

Auckland Star, Volume XL, Issue 123, 25 May 1909, Page 2

WILSON'S PORTLAND CEMENT.

ANNUAL' MEETING. I The annual meeting of shareholders in Wilson's Portland Cement Company, Ltd, was held at 2 o'clock this afternoon in the Office, Shortland-street, when Mr George Elliott presided. The report and balance-sheet showed profit earned for the year, including the balance (£7072 7/11) brought forward, £27,708 4/9, from which the directors recommended the following appropriations:—To payment of a dividend of 12* per cent for the year ended March 31st, 1909. on the amounts paid up on the Preference aud Ordinary Shares (6$ per cent of which was paid on November 23rd last), £9382 7/9: to depreciation of buildings, plant, machinery, and vessels. £4G27; to creation of an insurance fund for vessels, £1000; to creation of a reserve fund, £10,000; to depreciation of office furniture and fittings. £o0 19/G; to directors' honoraria. £250; and carry forward, £2391 17/6.—Total, £27,708 4/9. The machinery, plant, vessels, and buildings are In firstclass order, the sum of £5704 3/7 having been spent on repairs, renewals, and .maintenance during the year. The wear aud tear on cement-making machinery being particularly heavy, your directors have recommended a large amount (as above) being I written off. Messrs James Smith and John I Wilson retire from the Board by rotation, but are eligible and again offer their services to the company. The auditor, Mr Ernest L. Jonas, also retires and offers him- : »elf for re-election.