Page 3 Advertisements Column 1

Evening Star, Issue 7754, 27 October 1888, Page 3

LATE ADVERTISEMENTS. rnttß DKAPERY AND GENERAL IMX PO RTING COMPANY OF NEW ZEALAND. The fourth annual meeting of the above 'company was held yesterday (October ZP, i n the board room of the. D.1.C., High Btr'eet, Mr B. HaJleiißtein presiding. After reading the repott and balance-sheet, Mr Hallbhstein said: Gentlemen, I beg to inove the adoption of tho report. When doing so at our last annual meeting I stated that (bough I could not congratulate shareholder* en an improved state of things in New Zealand, I felt sure that sooner or lator a tarn for the better would come. To-day I think lam justified in congratulating you or. the fact of a turn for the better having arrived, principally caused fey the increase of our cxporte, by a steady rise in the value of our productions, by the gradual •development of our local industries, and by a renewed activity in our gold and coalfields. Though it may be some time yet before there is a corresponding improvement in business, this must follow, as Ifoelsure we shall have a period <>f steady prosperity, in which I hope everyone will participate. I now move the adoption of the report, and in doing so I beg aftain to draw the attention of shareholders &nd customers of the D.I.C. to the grfcnd principle of paying caah for their purchft'SßS, which I feel convinced is a benefit to them in more than one ftlr J. R. Scott said: I have muoh pleasure iin seconding the report, which, in the face of ■the depressed times through which we have been casing, is very satisfactory. I feel sure that a period of prosperity, as foreshadowed by tho ■chairman, is before lis in which an establishment like the D.I.C. must greatly participate. I have iheen a customer and a shareholder bince its *tart, and I have found St a great benefit to me 'I have that confidence in the management of the D.I C. that I Would advise any investors to apply for is many shares as they can hold. The report and balance-sheet were then received and adopted. The Chairman stated he had just received a •wire from Mr Brown, the Christohurch manager, saying that since stocktaking the business for September and October showed a steady increase over previous years. He, the chairman, had also muokpleasure in informing shareholders that their •experience In Dunedin was in the same direction, with one exception, each week s returns being larger than the corresponding -week last year. Mr H. E. Hart was elected as one of the dirpotors. _, _ On the motion of Mr G. P. FARQUHAR, jeconded by Mr Sikvwrioht, a resolution was carried—" That the number of directors be increased to four; that Mr Willi Fels be a director of the company; and the directors may determine in what rotation the directors shall go out of office." On the motion of Mr Hart, the auditorsMessrs George Joachim and G. P. Austing for Dunedin, and Mr F. H. Barns for Christohurch - were re-elected, at the same remuneration as last year. Mr Hart said he did not think that we could get three gentlemen of greater ability for this work and in whom the public would Siave more confidence. VOTE 01' THANKS. "Mr SELBY proposed a vote of thanks and confidence in the directors, managers, and staff. He said it was a difficult task in times through which we had passed to give satisfaction. He and his friends had had a good many dealings with the D.1.0., and ho had always found that they were treated with politeness and attention. The vote was carried unanimously. Mr Hallenstein, on behalf of tho directors, managers, and staff, thanked the meeting for the kind way in which they had received Mr Selby'B motion. They would all try and do their best to make the affair a success. The following is the report and balanco- * The'directors beg to submit to shareholders the fourth yeary report and balance-sheet of the company for the period from 20th August, 18S7, to 20th August. 1888. . The net profits, after deducting salaries, tire insurarce, travelling expenses, interest, charges, advertising, stationery, rent, and Government fees, and after allowing for depreciation of stock, amount to L 4.077 lis sd, which the directors recommend to be appropriated as follows : To paymont of a dividend at the rate of 6J per cent, per annum £2,7*5 13 o To addition to fixture and building sinking fund, which will thin stand at £1,250 ... 200 0 0 To balance to be dealt with as a bonus of 3J per cent, to shareholders on the amount of their purchases 1,09.1 17 11 £4,077 11 5 Shareholders have been requested to send in their stamped invoices, so that the exact amount of bonuses can be ascertained, Ihe dividend and bonus (if approved) will be payable at the Company s offices, Dunedin and Chriatchurch, on and after November the 10th. The last 12 months have been of a most trying nature to every firm and company carryeither not been able to pay a dividend, or have had to lessen their dividend. In the drapery trade especially, as is well known, failures both in the wholesale and retail have been many, and it has been a trying time for even the soundest. In the face of large drapery stocks being thrown in the market, your directors thought it prudent to sell at the close of each season any surplus stocks at co«t price, rather than carry them over to the next season, and if shareholders do not receive as large a bonus as last year it has been more thar counterbalanced by the reduced cost of their purchases. It will be gratifying to shareholders to learn that notwithstanding the general depression the company's business or volume of trade both in Christohurch and Dunedin, as is certified to by the auditors, has considerably increased. A tabulated statement made out by the secretary, from the analysis book, shows an increase in nearly every department. There has also been duriag the last 12 months an increase of over 300 ntf shareholders, and the company haß now over 1,000 shareholdere-a very respectable number. BALANCE-SHEET At 20th August, 1888. LIABILITIES. Aug. 20,1888. To capital, 250,000 shareßatlOs i 120,000 0 0 Less unallotted, 77,879 shares, at 10s £38,939 10 0 Less uncalled, 1 7 SJ, 1 2 1 Bharesatss 43,030 5 0 Less calls in arrcar . fiOO 0 0 arrcar 82,569 15 0 £42,430 5 0 Sundry creditors ... ... 1.467 0 1 Bills payable 2,000 0 0 Fixed loans ... ••■ B'3oo 8 ' 300 ° ° HaUenstein Bros, and Go., cash advances n R London liabilities... ... 14,107 0 6 Contingent liabilities ... 967 410 Fixtures and building sink- n n ingfund ... ». I.°°°° J Trofit - 4,077 11 5 £99,300 12 4 ASSETS. Aug. 20,1888. T>_ _i—l A „V,;,,rr.or,fa afloat... £62.0 Rent and othor debts, Dunedin, Christohurch, and London •• 3,924 11 J Warehouses, fixtures, and plant in Dunedin and Christchurch ... , ... 31,315 1o 7 Cash in National Bank of New Zealand (Limited) ... 1,341 11 l Cash in hand £99,300 12 4 Profit and Loss Account liabilities. Aug. 20,1888. . To disbursements: Saianes, fire insurance, travelling exstationery, advertising, rent, and !| Cenßofee *«.«* it it Profit T 4 ' 07711 r> £27,679 9 4 1887. A ; By balance i«w dividend ...£2,657 0 9 Less bonus on shareholders' ?r ha : 9318 7 Fixtures and builftund 300 0 0 ASSETS. £4,066 2 7 3,888 9 4 _J £177 13 3 Aug. 20,1888. 97 nm 16 1 By goods account .. Z7.JUI lb i £27,679 9 4 We have «"J^ rf *K^ a n«£% Tlmporting Company of NewZeafiKK Christchurch balance-