DOMINION CEMENT COMPANY.

Dominion, Volume 6, Issue 1620, 11 December 1912, Page 10

DOMINION CEMENT COMPANY.

METING OF DIRECTORS. Tho first meeting of directors' of the Dominion Portland Cement Company, Ltd., was hold ai the company's office, Wellington, yesterday. Mr. S. J. Nathan, of Auckland, presided. Tho Secretary reported that the minimum number of shares had been duly applied for, and that the company had been registered. Tho allotment of shares was .then proceeded with. Tho following additional directors were appointed members of the board:—Messrs. Thomas Buxton, M.P., merchant, of Temuka; Robert M'Nab, sheepfarmor, of, Falmcrston Nsrth; Vernon Reed. 31.P... solicitor, Bay of Islands; and George Wmntone, merchant, Auckland. Mr. Ernest W. Ilunt was appointed secretary. M.T. Vernon Reed was appointed chairman of directors; In returning.thanks.for tho appointment, he congratulated the company upon its quick, flotation. Within three weeks of the issue of the prosnectus the minimum of £60,000 in shares had been exceeded. For a comnn.ny not underwritten this was something like a record, and tho company had been most economically floated, so that the shareholders' money had been saved. The outburst made by the other cement companies against the flotation of this company had been most deplorable, and in its way must be unique. All but one of the companies had joined in the attack, and the reason for their action was quite apparent. Had this company not been so formidable, and possessed such natural advantage; for the manufacture of Portland cement, and for tho distribution of the manufactured article, it would have been Ignored. But evidently tho rival cement companies could not offord to ignore this company. Notwithstanding tho concerted opposition of the other companies, and tho present tightness of the money market,. the company had little difficulty in obtaining the required amount to go to allotment. They had been most fortunate in having ' obtained the services of Mr. W. G. Wilson as works manager. Mr. Wilson, by his past work, had proved himself the best Portland cement maker in the Dominion, nnd he bid been thought so much of by his previous employers that on three ncca-nions he had been sent- rinud the world at their expense to acquaint lirmcclf on behalf of h.is company with' the latest developments in cement manufacture.