SHARLAND AND COMPANY

Evening Post, Volume LXXXIX, Issue 104, 4 May 1915, Page 8

SHARLAND AND COMPANY

ANNUAL MEETING. Mr: W. Watson, chairman of directors, presided over the annual meeting of Sharland and Co., Ltd.,' held yesterday afternoon. In moving the adoption of the" "report and balance-sheet, details of which have already been published in The Post, the Chairman pointed out that the. full amount of capital, £75,000, would be paid up before the next balance.- Mortgages had increased by £6500, but the other debts had decreased by £21,400, so that upon the whole the company's indebtedness bad been reduced by £14,900. The fact that stocks on hand were lower this year than last by £2200 was accounted for principally by the disarrangements in shipping facilities and markets caused by the war. Plant and fixtures, had increased by £900, and freehold and leasehold premises by £2600 owing to the finsl payments for the new vinegar factory in Auckland.' The expenses of conducting the business ' were slightly less than last year, and the bad debts and depreciation somewhat more. The increased profits were largely due to the expenditure 1 of capital in buildings and plant in Auckland during the past two years, which had enabled the factory to increase its output. The Chairman also pointed out that the real working capital was over £94,000. The year had been a trying one to the managers' and staff owing to the dislocation of trade and shipping, also to the absence of .several employees with the Expeditionary Forces. Mr Martin Kennedy seconded the motion, whicji was carried. ■ Eulogistic reference was made to the work of the managers and staff during the year, and they, together with the were accorded a hearty vote of thanks. The retiring director, Mr. J. H. Owen, was re-elected, as also were the auditors, Messrs. H. Kember and A. S. Biss (Wellington), and Alex. Grierson (Auckland).