DRAPERY IMPORTING COMPANY.

Press, Volume LXVI, Issue 13875, 28 October 1910, Page 9

DRAPERY IMPORTING COMPANY.

(press association telkgbam.) DUNEDIN, October 27. The twenty-sixth annual meeting of the- Drapery Importing Company was held this afternoon, Mr K. Jiallenstein presiding. Tlie annual report stated that tiie profits for the year -were £17,689 5s Sd, which, with £4310 13s 9d brought forward, made a total of £22,005 19s od to tlio credit of profit and loss. An interim dividend at the rate of 6 per cent, on preference shares for the halfyear ended February 20th absorbed £3750, leaving £18,255 19s od available for division. The directors recommended a dividend at the rate of G per cent, on preference shares for the halfyear (£3750), a dividend of 6 per cent, on ordinary shares (£0366 17s lid); the balance to be carried forward, less a bonus of 2i per cent, to shareholders on the amount of their purchasers (£8139 Is od).

In moving the adoption of tho report and balance-sheet, tiie chairman said the profits for the year u-ero about £2100 greater than those for tho previous year. The balance carried forward was just about sufficient to pay tho full year's dividend on tho preference shares. The year had been as trying for the Dominion as tho previous year. Money had been easier, and the volume of business was i>robably somewhat greater. With good seasons and good prices realised for produce, and with the favourable prospects of the coming season, they might look forward with confidence to the future. The report and balance-sheet were adopted. Messrs P. L. Hallenstein and J. S. de Beer were re-elected directors, jlr J. S. McJnnes was appointed auditor.