Page 4 Advertisements Column 4

Otago Daily Times, Issue 25241, 2 June 1943, Page 4

DONAGHY’S ROPE AND TWINE COMPANY, LTD. The annual meeting of Donaghy’s Rope and Twine Company, Ltd., was held on Monday afternoon. The chairman of directors (Mr J. H. Meek) presided. Moving the adoption of the annual report and balance sheet, the chairman -referred to earlier difficulties in, respect of raw materials and added that the Government had recently taken steps to divert supplies to the company. A ilax mill at Otanomomo, near Balclutha, had been purchased by the company, and this step had already been justified by the output. The company was a large consumer of linen flax, and, had this not, been grown in New Zealand, a portion of the plant would have been idle. The South Dunedin v factory was being largely rebuilt, and an extension of the Auckland factory •was a post-war possibility. ■ • There was not sufficient profit,'the chairman added, to" provide the usual-10 per cent, dividend without drawing on the company’s subsidiary, the Andrews Twine Company, for £IOSO. The net profit for this year was £11,431, as against £10,82? last year. The present capital of the company was not invuse for the whole of last year, and consequently a larger amount was necessary to pay a 10 percent. dividend this year. In conclusion, the chairman .stated that, while he did not wish to enlarge on the enormous provision which the company must make for taxation, and also .the low percentage allowed by the Government for depreciation on . machinery, particularly when working for more than one shift, the time was rapdly approaching when the Government should give the maximum assistance to industry, to prepare for the transition from war to peace. Employment must be found for returned soldiers, which in itself was no small task, and consequently all unnecessary controls and restrictions on Industry should be withdrawn, thus giving freedom of action for expansion. The retiring directors, Messrs J. H. Meek and Willi Fels were re-elected.

Autumn and Winter Goods now opening Look in when passing; we’l] be pleased to show you round. Limited, supplies;. buy now.—Mosgiel’s Drapers since 1882; A.' F. Che.vne and Co.—Advt. FINANCIAL TEMPORARY Investment or any safe security wanted for few thousands pounds; will purchase debentures or bonds.—l 72, Times Office. pATENT AGENT g \ J. PARK & SON, Reg. Patent Attorneys, A.M.P. BUILDINGS, Princes street, Dunedin (Phone 11-355) ' ‘ And THAMES STREET, OAMARU . (Henry Hay, Agent).