ROBINSON ICE CREAM

Evening Post, Volume CXV, Issue 139, 15 June 1933, Page 14

ROBINSON ICE CREAM

DIVIDEND FROM RESERVE

In moving, the adoption of the report of Robinson Ice Cream, Ltd., Auckland, Mr. T. N. Baxter said the profit for the year was set down as £841, but as a matter of fact the company made £4415 during the year. They had had to write off £3615 as depreciation. During the year there were various difficulties to meet. There had been keen competition and the company .reduced the price of its products. On. top of that they had to carry the 5 per cent, sales tax. Another difficulty was that the>: had had to sp*end £400 or £500 iii repairs. The expenses, however, had been entirely in the share* holders' interests, and the company was now in^ a position to meet any competition. The economic position, of course, had been much against them. It would be necessary to draw lipon reserves to pay a dividend of 6 per cent, for the year. An amendment, moved by Mr. J. Sayegh, that the report and balance-sheet be referred back to the directors for more detailed information, was lost. . -.' A shareholder said they had passed through one oFthe worst years in NewZealand's history and they ought to be Very thankful to be in a company that c.oujd pay 0 per cent. The report was adopted, and it was decided to pay the dividend forthwith.-

The retiring directors, Messrs. T. N. Baxter and T. Baster, were reappointed unopposed.