RECONSTITUTED FIRM

Evening Post, Volume CXII, Issue 30, 4 August 1931, Page 7

RECONSTITUTED FIRM

KIRKCALDIE AND STAINS

LUNCHEON TO MAJOR TOMS

Major C. B. Toms, a director of subsidiary companies of Overseas Stores, Ltd. (London), was tlio chief guest at a lunelieou tendered by tlie British (U.K.) Manufacturers' Association of Aew Zealand yesterday. Speaking in reference to economic conditions, he said that when he left Home people were struggling along under heavy taxation trying to make both cuds meet, but in England everyone was still living in hopes.of better times. The Old Country had been through equally hard times, aud he felt confident that sho would overcome- the present difficulties. It was noteworthy that the Economy Committee appointed last February in England had just issued its report. Amongst other things, its economy recommendations had reference to the Empire Marketing Board's expenditure. Major Toms said he had noticed that the £400,000 a year spent by the board was to be curtailed. He did not think this would seriously damage tho Empire's trade-. As long as the British Empire, as a whole, could produce goods suitable for the markets of the world there would always be a demand for thoso goods to the benefit of the producers and manufacturers. He said he was not a director of Overseas Stores, Ltd., which was a holding company, and which had' quite a. small directorate. He was a director of Kirkcaldio and Stains and other subsidiary companies, but not of Overseas Stores. The latter company did not hold all Kirkcaldie and Stains shares, a large number being in the hands of the Kirkcaldie family. Mr. Keith Kirkcaldie was vice-president of the reconstituted company.' Since he had been in Wellington ho had .had a chance of looking around the various stores and business places, and he must say ihat ho had formed a very favourable' opinou. He had seen stores and business houses in most parts of the world, and although this was a small country, Wellington appeared progressive.- He hoped that iv spite of tho fact that the controlling financial interests were held in London the reconstituted firm would still be ■ regarded as a Wellington firm, and that tho people whom he represented! would not be regarded as interlopers who had come to Wellington to show1 Wellington how a business should be managed. He trusted that the business relations between Kirkcaldie and Stains and the firms those present represented would continue for many years t» come. ■ . ■ Mr. C. W. Salmon, (vice-president of tho association) expressed the view that Hie more British business men came- to New Zealand the better it would be-for the Dominion, and the better it would be for England. It was a pleasuro to sco British capital and New Zealand capital and labour linking.