SATISFACTORY YEAR

Evening Post, Volume CXVIII, Issue 121, 19 November 1934, Page 11

SATISFACTORY YEAR

FLUENZOL PROPRIETARY

Tho annuai # meeting of shareholder* of Fluenzol Proprietary, Ltd., was held today, there being a representative' attendance. Mr. J. R. Kirk, ,MJ3.E., presided. . . After referring to'the death of Mr. C. W. Palmer and the appointment ot Mr. W. H. Stevens as managing ( director, the chairman moved the adoption of the., report and balance-sheet, which * have been printed, in'"The'Post."

Although the report spoke of the year as having, been a difficult one; it was gratifying that the directors could' recommend a dividend at the, rate ,of 8 per cent, per annum and suggest the transference of £500' to reserve—a very satisfactory achievement, said' Mr. Kirk. ■' The difficulties contended with, had been those created, by legislation imposing, as in the case of* exchange and now taxation, higher .payments to be met, and on the other1 hand the economic position restricting the buyingpower of consumers. Objections to and protests against these impositions* had been voiced from various quarters without appreciable result; while it was common knowledge that lending institutions are embarrassed by the" amount of money they have on hand. t ■ ."Frozen money, like a frpzon hearty' he said, "is no good to anyone; money, must bo" sent to" work with the labourer in the field, tho merchant in his warehouse, the builder on' Ms scaffolding, the retailer in his shop. It must not wait for prosperity; it must be used for the purpose' of .restoring it.. It is stated that investments are hard to find, and this is correct It one seeks, only along the old avenues, many of-which are now choked with'weeds. But opportunity is confined to rio one era, no one place, no one people, no one industry, and is still available. .What is necassary; is that there should boa readier, acceptance, of the position, a more eager j desiro and attempt to adjust ourselves to the present circumstances, a greater belief that while there .may be' much to object to, the'best possible'has been done and a confident tr.ust.that with . hard work the future will not prove unkind, but can bo .conquered. . Great Britain is a striking example of .the proof of this." ;• .. ' •-{. , Instead of condemning the tunes, bad as they might be, and waiting idly for improvement, ho commended thorn; believing that the only way to make them better is by everyone doing his best t« promote business, by improving and extending existing types and by, organising new ones, making capital and labour work in their true position—together. It was in this faith that the directors erected "the present handsome buildinir comprising laboratories, factory, . and offices; .and he congratulated the company upon now having a freehold, property and a building worthy of it; upon meeting the extra liabilities mentioned without raising the price of its goods to the public; and upon the decision to extend the operations of th» 'company to Australia. Tho motion was seconded by Mr. Gibbons and carried. _ ■■■■_.■■ j." The directors, Messrs. J.. A. Stewart, W. Applcton, W. 11. .Stevens, and J. X, Kirk, were Te-olected. Complimentary references to tho worh of the directors and staff Were madeby Messrs. Brico, Hawthorne; and Gibbons, and special recognition was mada of the services of Miss HodkinSon.^