ABRAHAM AND WILLIAMS LTD

Feilding Star, Volume XXVII, Issue 107, 1 December 1905, Page 4

ABRAHAM AND WILLIAMS LTD

The annual meeting of Abraham *nd Williams, Ltd., was held on Monday, Mr R. S. Abraham presiding. Id moving the adoption of the repfittand balance sheet, Mr R. S. Abraham said that though the balance sheet showed in the increases of their trade expenses pigns of very severe competition, yet it bore out the progressive policy adopted by the director?. He dwelt , on ihis point because he did not think shareholders had any idea of the anxiety which undue compe tition caused to those in charge of the affairs of the compnny. It was with pleasure the directors were able to gta<e that the business was maku g rapid strides In reviewing tbe business of tbe year they found sat isfactory increase in tbe total busi- | ness done at all tbe branches, the gross turnover being about £649 ,000, as against £525,000 for the previous year. This was partly accounted for by the high prices ruling during the year for sheep and the fact that the 425,000 bad been regarded as againat the 835,000 for the previous year. On the other hand the demand for cattle bad been poor, tbe figures being 60,000 as against 70,000 the year before. The main increase, however, was in the private sales on owners' account, the commission on which showed a total of over £$ 000 as against £1,740 the previous year. The wool and skin business had continued to be satisfactory. The directors had thought it odvisable to appoint an officer to look after their Wellington interests and they bad also decided to enter tbe arena of the Wairarapa. Negotiations were now proceeding for the purchase of the leading business of that district. For the current year those of the shareholders who were on the land had good prospects before them. Wool was high and their agents at Home thought there was every indication that it will continue so. At the request of the Farmers' Union, the directors had agreed in co-operation with the Loan 'and Mercantile Agency Co., Ltd., to commence fat stock sales at special rates. The success of the venture would a great deal depend upon the way in which it was backed up by the farmers. In tbe balance sheet the profit and loss account showed a balance to profit of £7195 2s 3d. The report and balance-sheet were adopted. Tbe Chairman reported that he had received advice that tbe purchase of Messrs Lowes and loros' busmess at Masterton has been confirmed by the latter company's shareholders. He congratulated shareholders on the acquisition of the leading auc tioneering business in the Masterton district at a very reasonable price. Mr J. M. Johnston moved a very hearty vote of thanks to the directors and officers of tbe company. This was carried, and the Chairman responding, spoke of tbe genuine interest there was shown in the business of the company by the whole of the officers.— Times.