RECORD OUTPUT

New Zealand Herald, Volume LXXVII, Issue 23699, 4 July 1940, Page 14

RECORD OUTPUT

STAFF SHARE RESULTS MILITARY PAY AUGMENTED MANAGING DIRECTOR'S REVIEW "Although at our last annual meeting I was sufficiently optimistic not to anticipate anything in the nature of a serious setback, I do not think anybody realised at that stage that the Empire would bo called upon to faco what probably is tho greatest crisis of its history," said Mr. H. J. Kelliher,. managing director, in seconding the motion. "Nevertheless," ho added, "no useful purpose could have been served then, nor could be served to-day, by being unduly pessimistic, and I think wo all have tho firm conviction that we shall win through in tho end. "Jn spite of the heavy burden tho company has been called upon to carry by way of additional taxation, etc., and tho generous response wo have made to all patriotic appeals, your directors feel justified in giving expression to their confidence in the future in a practical and tangible form by recommending the same rate of dividend as paid by tho company during the previous year. Staff Bonus and Military Payments "On the same grounds, your directors also decided to pay to the company's employees tho usual bonus of 7J per cent on all ordinary wages received during tho financial year. By participating in the profits of the company, every employee virtually becomes a shareholder in the company's enterprise. In a great measure it is due to their loyal co-operation and efficient service that wo are able to maintain a rate of dividend substantially higher than that of any other similar business in New Zealand, though still well below tho rate paid by major brewing companies in Australia. In the circumstances your directors havo no hesitation in showing their appreciation in a tangible form by continuing tho payment of tho annual bonus. "As shareholders aro aware, the company has undertaken to make up tho pay of employees who enlist for either home service or service abroad to what such pay would have been had they remained in the service of the company. Tho directors have also decided to pay the bonus of 7J per cent to these former employees eligible to receive such bonus, calculated on the wages they would have received had they remained in our employ. Hotel Improvement Policy

"The company's recognised policy of rebuilding, reconstructing and renovating all hotels under its control has been well maintained during the past year, and substantial sums have been utilised in this connection. That tho public has shown appreciation of these improvements is evidenced by tho greatly increased turnover enjoyed by our hotels. I might say that in this connection our companv has made the maximum effort within 'its limited resources. Shareholders will realise that this expenditure is imperative, on account of the unsatisfactory structural conditions ot many hotels throughout the Dominion. Indeed, it is no exaggeration to say that at least 50 per cent of hotels in New Zealand stand in need of reconstruction or complete rebuilding. "Of vital importance to the compiuiv's success is the sustained high quaiitv of our products, and at tins stage I would like to pay a special tribute to our brewery manager, air. Morton Coutts. who lias been our head brewer from tho very inception of the company. Mr. Coutts possesses the advantage of coming from a well-known New Zealand family of brewers. His

father, who was born in Cromwell, has devoted a lifetime to the study of brewing, while his grandfather before him commenced brewing in Duncdin as far back as 1860. Generations of Brewery Experience

"With generations of experience behind him, Mr. -Morton Coutts belongs to the younger school of the art of brewing. He has made a comprehensive study of all aspects of brewing, and particularly of the important question relating to the digestive qualities and assimilation of the natural goodness in malt and hops. It is generally acknowledged to-day that he has developed the purest drink it is possible lor scientific brewing skill to produce. "It should be realised, therefore, that although we possess the only If 10 model brewery south of the line, and during the past financial year have purchased over £63,000 worth of finest quality New Zealand malt and hops, 11 io same perfection of our products would not liavo been achieved without the skill"'and technique of our master brewer, who can claim the unique record of representing tho third genera tion of a New Zealand family of brewers. ,

"I can only give it, as my own personal opinion thnt 1 have every confidence iti tho future of oui company. Quality, sound progress nnd an optimistic' outlook have always been -the keynote of our policy. Wo were among the first to emergo from the last depression; ours was the first company to restoro tlio wages cut.; and wo aro the only brewing concern to pay n bonus to employees. All the Factors lor Success

"So far as it is humanly possible, we possess all the factors that make ioi success. We have a model brewery; nil outstanding master brewer; a product that is ever gaining in popularity; and a chain of hotels ensuring an outlet for the hulk of our products. Ono of our difficulties has been, and still is, the inability to cope with the increasing demand for our draught beer, and wo aro still compelled to declino numerous requests made by hotelkeepers throughout the Dominion, more especially in the South island. In addition to a greatly increased output of this class of ale, the sales of bottled beer during the last financial year reached the record level of over 17,000,000 bottles. These figures speak for themselves. "In conclusion. T cannot sneak too highly of tlio efficiency and loyal cooperation of tho staff at tlio brewery, tlio offices, tho stores, ns well as at the various hotels. During tho whole of tho year everything ran most satisfactorily and harmoniously, and, as I have already stated, a great deal of the company's success is duo to this spirit of loyalty and co-operation on the part of our employees. I. also wish to thank our chairman, Mr. Stevens, our general manager. Mr. Reiiners, and all my co-directors for the help and assistance given willingly and generously throughput the year." The report and balance-sheet was adopted. The retiring directors, Messrs. W. J. Coutts and. J., Fraser Smith, re-elected.