ROYAL SOVEREIGN PENCIL COMPANY

Otago Daily Times, Issue 23529, 18 June 1938, Page 19

ROYAL SOVEREIGN PENCIL COMPANY

CONTACT WITH NEW ZEALAND (From. Our Own Correspondent) t (By Air Mail) LONDON, May 21. At the eighteenth ordinary general meeting of the Royal Sovereign Pencil Company, Ltd., held at Neasden, Mr P Charnaud, managing director, who recently returned from a tour of Australia and New Zealand, mentioned that while their subsidiary company was manufacturing many of the company’s lines in Sydney the parent company were still exporting their betterknown brands from London. The outlook in Australia struck him as being very good, and there was undoubtedly a general atmosphere of prosperity and security. New Zealand was going through ex-

• f' perimental stages politically and that, *1 he thought, was causing a certain feel-* -;.J ing of insecurity. There did not ap*- f * pear to be that same feeling of tentedness and optimism that he had ~ met in Australia and that probably,. r was due to the changes that were tak-.* ing place and the short hours and high" wages which had been recently imposed by the Government. In New Zealand their firm enjoyed a similar, reputation to that in Australia. The chairman, Mr W. Hendersomvi Cleland, referred to the value of trip* such as Mr Charnaud had undertaken, j) for the contacts made and the first- - hand insight into conditions obtained on the spot enabled him to keep a closer touch on the pulse of the de--* velopments than would otherwise b« possible. Mr Charnaud has left for Australia in succession to Mr Kenneth ®hari7> naud, who had been the representative there for three The net profit for the year at £ 23,280 enabled the company to recommend dividends at the same rate and to pro-,y vide a small increase in the generaSJ d reserve.