NEW ZEALAND DRUG COMPANY.

New Zealand Herald, Volume XXXVIII, Issue 11605, 20 March 1901, Page 5

NEW ZEALAND DRUG COMPANY.

£by telegraph.— association.] Dttnedin, Tuesday. The chairman of the New Zealand Drug Company, at the annual meeting, after referring to the tariff changes, said : "I wall abstain from reflections on the action of the Government in refusing to suspend the new tariff till stocks were cleared, and leave the morality of the whole proceedings to the consciences of those who needlessly inflicted the injury. We sustained heavy loss, but I am not sure it is to your interest, or that of the company, that we should publish the exact figures. I, may ■; tell vou, however, that after the sales of those High tariff duty paid stocks at the reduced tariff, for a period of five months, we found that, in addition, we have had, as at January 3, to write oft', before stock-taking no less than £2875, the reduced value of stock then held, and on which we had paid higher tariff. However*, as Ave saw no possibility of redress, wo determined to push on the busines, with, if possible, extra energy, with a view to recuperating the loss, and paying the usual dividend for a year. I am pleased now to hi able to say that the results of the year's operations justify us in recommending that the full dividend for the past year be paid.