COMPANY MEETING

Evening Star, Issue 19520, 30 March 1927, Page 11

COMPANY MEETING

' KBMPTHORNE, PROSSER, AND | CO.’S ACTIVITIES. i The forty-eighth annual meeting of Kempthorne, Prosser, and Co.’a New : Zealand Drug Company, Ltd., which was held yesterday afternoon, the initial proceedings of which were published yesterday, was attended by twenty-five shareholders, Mr W. F. Edmond (chairman of directors) presiding. Following the chairman’s address (which appeared in yesterday’s _ issue) and the moving of the adoption of the annual report and balance-sheet (already published), the motion was seconded by Mr H. L. Sproscn, who congratulated _ tho_ company upon the splendid position it had attained this year. Mr P. L. Ritchie said the chairman J had mentioned that prices had been | cut. He wished to ask if the business j in the new works was being carried I on at cost price or at a very slight adj vanco. He wished to know if there | was likely to be an amalgamation, so that prices would go up and provide a ! dividend. The Chairman said that it was hardly in the interests of the company to answer the question at a public meeting, ns it would be letting their competitors know what they were doing, but ho could assure Mr Ritchie that the shareholders’ interests were being ' safeguarded. j Mr F, Wilkinson said that on suoh 1 an occasion as the present a little coir structive criticism was of greater value ; than compliments. He thought the sales j department would be placed on a firmer j footing with clients if they had a pricelist. The report and balance-sheet were adopted unanimously. OFFICERS RE-ELECTED. The retiring directors, Messrs A. Bathgate and F. W. Mitchell, were reelected, and Messrs F. Oldham and W Taylor were also appointed to the directorate. The following auditors were re-elec-ted;—William Brown and Co. (Dunedin), G. C. W. Morris (Auckland), G F. Judd (Wellington), W. E. Best and Wilkinson (Christchurch), and Bourne and Ballingall (Wanganui). COMPLIMENTARY. Mr F. W. Mitchell returned thanks on behalf of the directors reappointed, and said ho was proud of the gratifying position the company had attained. It had been indicated that there were troublous times ahead, hut the diroc- : tors and general manager were fully alive to the situation, and would spare no effort to protect the interests of shareholders. Mr F. M. Oldham also returned ■ thanks, and said he trusted the in- \ formation he had gained would he of , some benefit to the company. He bad i heen impressed with the magnitude of j the operations of the company, and he ■ was sure the shareholders had no idea ] of it. ; Mr H. W. Mitchell moved a hearty ] vote of thanks to the directors, general i manager, and staff, and this was car- 1 ried by acclamation. i

Mr Edmond and Mr Taylor returned thanks. Mr Taylor said he greatly appreciated the position ho now occupied with the company, with which he had been associated for thirty-.six or thirtyseven years. He could say from his own knowledge that the staff was an excellent one, and had no weak links. It had been said that the outlook was not brilliant, but they onnld not always he on the crest of the wave, and he had every confidence in the future of tho country and in the future of their company.