TONSON GARLICK CO., LTD.

New Zealand Herald, Volume XLIV, Issue 13453, 1 June 1907, Page 7

TONSON GARLICK CO., LTD.

ANNUAL MEETING.

The tenth "annual' meeting of shareholders of Tonson Garlick Company, Limited, was held yesterday afternoon in the warehouse of the. company. The chairman of directors, the Hon. S. Thorno George, M.L.C., presided, and the report was read by Mr. A. 0. Brown.

The directors stated that the result of the years trading must bo , considered verv satisfactory, both .as regarded the volume of business, and the balance to credit of : protit and loss account. During the year, as additional power was required in the company's factory, the directors decided to instal a suction gas-producer plant, and 44 horsepower engine, the largest erected at that time in the city. 'This has given excellent results, at a largely reduced working cost. A largo showroom had also been opened up in the basement of the warehouse, devoted to the crockery and household ironmongery department. Further extensive alterations and improvements were under consideration. The stocks were all thoroughly modern and up-to-date, and bought in the best markets of the world. The freehold and leasehold properties of the company, are in capital'condition, and constituted a valuable , asset. Ample provision for depreciation on factory plant and warehouse fittings had been made. . The directors recommended the usual dividend of eight per cent., with a bonus of five pet-cent.-on shareholders' purchases, and that the usual honorarium bo voted to the board. The Chairman moved the adoption of the report and balance-sheet. He considered shareholders had reason to be well pleased with the results of the year's trading. The operations of the company were very extensive, and plans were under consideration for- alterations to the warehouse, which would add greatly to the convenience of the company's clients, as well as improving the appearance of the building. The new suction gas plant installed in the factory was answering admirably, and was a great economise!'. All the properties of the company were being maintained in good con-dition,-and every provision had been made for depreciation in factory, plant, and fixtures. . The balance-sheet, showed that matters were on a sound basis in all respects. Mr. Win. Courtney seconded the motion, which was carried unanimously. The two retiring directors, Messrs. G. C. Garlick and Chas. Rhodes, were re-elected, and Mr. S. H. Matthews, F.N.Z.A.A., was re-appointed auditor. Votes of thanks were, on the motion of Mr. Geo. Gregory and Mr. A. Pcwar,, recorded the directors, managers, and staff. The Hon. S. Thome George thanked the meeting on behalf of tho board, and Mr. A. C. Brown replied for the managers and staff.

The- bonus will bo payable at the company's warehouse on Juno 4. >