NEW ZEALAND BRICK, TILE, AND POTTERY COMPANY.

Lyttelton Times, Volume LXVII, Issue 8125, 23 March 1887, Page 3

NEW ZEALAND BRICK, TILE, AND POTTERY COMPANY.

The first annual general meeting of this Company was held at the registered office, Tuam street, Christchurch, last evening. There were 14 shareholders present, representing 713 shares. Mr W. Langdovm, Chairman of Directors, presided. The Secretary, .Mr. J. Jiebson, read the Directors’ report and. balance-sheet. The report referred to .the general depression in trade, and to the damage sustained by the works owing to the unusually wet weather in the winter, and: also the unsatisfactory way in which shareholders paid their calls; pointing out that ofr the amount more than one-third remained, unpaid. The statement of receipts, and' expenditure showed that the return had been:—From sale of goods, £10,871- 6a 2dij calls on shares, £2725 10s; and rents, £275 12s 8d; total, £13,872 8s lOd; and that the expenditure left a balance 0f£320-os3d, which the Directors recommended, should be carried forward to profit and loss-new account. They recommended, that the financial periods should, determine half-yearly instead of annually.. The Directors had visited the works from time to. time during the year and reported: them in good order and condition and capable- of meeting the requirements of more than double the present trade. The Directors concluded by asking for the hearty cooperation of shareholders in their endeavours to- promote the advancement of the 1 Company’s business, as they feel confident that if this were given the operations of the period now entered upon could not fail to be satisfactory, and would result in there being a sufficient surplus of profits to enable them to pay a substantial dividend on, the capital paid up. The Chairman then formally moved the adoption of the report, which was seconded by Mr D. Reese, and carried. Mr T. F. Gee being the only shareholder nominated for the office of Director, the Chairman declared him duly elected. The articles of association of the Company, providing that if through any reason the shareholders should not elect sufficient Directors, the continuing Directors may themselves fill up the vacancy. Messrs Jameson and F. W. Tregear were elected Auditors. On the motion of Mr J. S. Scott, seconded by Mr Eeese, it was resolved—“ That the financial periods of the Company should terminate on Jan. 31 and July 31 in each year, and that the ordinary general meetings of shareholders should be held in the months of March and September following." Mr D. Eeese moved a hearty vote of thanks to the Chairman of Directors for his services during the year. The motion was seconded by Mr Hill, and carried. The Chairman suitably acknowledged the compliment, and the proceedings terminated. Mr Langdown was subsequently re-elected Chairman of Directors for the ensuing year. .