DISPATCH FOUNDRY COMPANY

Greymouth Evening Star, 7 October 1908, Page 4

DISPATCH FOUNDRY COMPANY

- _ - - -*- The annual meeting of Ihc shareholders of tho Givymoul.li Dispatch Foundry Company was held last evening. Mr F. Campbell (Chairman of Directors) presided and there was a large attendance of shareholders. The Secretary (Mr J. Steuhouse) read the annual report as follows:—"We have pleasure in presenting you with the thirty-third annual report and balance sheet, and in doing so are pleased to say that the busbies* of the Company continues in a satisfactory state. the volume of business for the year was greater than for years past, and this can be accounted for by the number of large public works in the course of construction, and the activity of the timber and coal industries. The amount of goods sold and work done was £2B 391 15s lOd, in addition to which there were goods partly finished to the amount of £1,430, but undelivered on the date of balance. Waves paid for the year amounted to £10,694 12s Id. , ~ , "The amount placed to the credit ot profit and loss, vou will note, was j;1518 4s 4d, and the amount written off as bad £lB2 6s Bd. . . "Vou will observe that repairs and maintenance for the year cost £1,059. This includes the erection of a new buck store, to replace the. old buildings used tor tin: purpose of storing patterns, it was badly needed, and will'result in a considerable saving being effected in the matter of insurance. "The question of adding an ironmongery branch to oiir present business, as referred ot in our last report, is still under consideration, and may result in the project being carried out at a future date. "We. would call your attention to the balance sheet, where it shows the paid-up capital to be £12,000. You will note the accumulated profit and loss account to be £8,423 15s Bd, which makes the working capital of the Company to-day £20,423 15s 3d. Your directors have had under consideration the question of increasing the capital of the Company. This would have received our attention before but for the fact of the increasing business in the direction referred to. "The directors retiring this year are Messrs Campbell and Griffin, but are eligible for re-election." The report was deemed satisfactory and, along with the balance sheet, was adopted. The retiring directors viz., Messrs F. Campbell and I'. M. Griffon, were re-elected ; as also were the auditors —Messrs J. L. Doogan and F. 11. Kilgour. Special votes of thanks were passed to the Chairman of Directors (Mr F. Campbell) for the keen interest he had always taken.in tho Company; to the Manager and foreman (Messrs V. W. and 11. Hambleton); to the Secretary (Mr J. Stenhouse) and to the directors. A vote of thanks to the chairman concluded the proceedings.