DALGETY AND CO.

Evening Post, Volume CXXIII, Issue 2, 4 January 1937, Page 12

DALGETY AND CO.

PROVISION FOR STAFF Special reference was made by the chairman of Dalgety and Company, Limited, at the annual meeting in London to the fact that, during the year, terminable debentures among the liabilities had been reduced by £273,650 to £1,029,068, and that since the end of the financial year, June 30, other large amounts had been repaid. To effect the reduction special remittances were brought from overseas for the purpose of paying off the debentures, and the cost of exchange was charged to general reserve. Dalgety and Company, Mr. Parker said, continue to be the largest woolselling house in the world. In 1935-36 it sold in Australia, New Zealand, and London 608,175 bales, against 613,115 bales in the 1934-35 season. In regard to sheep, the figures were: Australia, 111,699,085 head, showing a decrease of 447,392 head over 1934; and New Zealand, 30,039,133 head, an increase of 962,379 head over 1934. The attention of shareholders was called by Mr. Parker to the staff provident fund, to which they were being asked to vote the sum of £25,000. He felt sure that, having regard to the necessity of making adequate provision for old members of the staff who had given faithful service, shareholders would not hesitate to adopt the directors' suggestion.