OAMARU WOOLLEN FACTORY COMPANY.

Press, Volume LXIII, Issue 12972, 27 November 1907, Page 8

OAMARU WOOLLEN FACTORY COMPANY.

Tlie annual report of the Ountrn Woollen Factory Company, to be preEentcd at the annual meeting on the 9th December is as follows:—"Your dircotoTa have pleasure in again placing before frlio eharcholdere the result of th* year's operations ac shown in the baJand (statement of profit and loss account herewith. The sum of £1134 10s lOd has been spent during the year in new maohinery, and all buildrngs and mechinery hare been maintained in first-olae3 order. During the year we have been extremely busy, but regret our profit is not commensurate with the business done, due to the continued advance itt tho prioe of wool, which is now costing us much more than it ever has in the history of the company, and the impossibility of Retting an equivalent advance in the prico of our manufactures in tho face of increasing importations- of ehean ajid shoddy goods. However, tout directors are pleased to be able to recommend that a further dividend be paid, at the rate of 3 per cent. on. ordinary shares, and 4 per cent, on preferential shares, which, with the interim dividend of 4 per cent, on «11 shares in June last, will absorb £1329 18s sd. placo £500 to reserve account, and carry forward the balance of £047 0a lid 'to next year's account. Tho retiring directors are Messrs A. J. 6. Hrndland and .lamm Craig, who are eligible, end "ftrr themselves for reelection. Mr D. S. Montngu, auditor, also retires, and offers himself for reelection." __