MILBURN LIME AND CEMENT COMPANY (LIMITED).

Otago Witness, Issue 2274, 30 September 1897, Page 20

MILBURN LIME AND CEMENT COMPANY (LIMITED).

The annual general meeting of the Milburn Lime and Cement Company (Limited) was held in the company's oiTue, Cumberland street, on Tuesday, 21st, Mr John White, the chnirtn&u of directors, presiding.

Thedireclora' report stated that the profib and loss account ehoVed a ere. lit balance for the jear of £25£2 12*, from which t he director* had already paid au interim dividend at the rate of 6 per cent-. p er annum, leaving a balance, for distribution of £1328 14s Id. From this the d ; rectors recommended the pajineijt of a further dividend at the same rate, amouutiug to £753 18s, to write £450 < ff plant, &c, and to carry forward the balar.ee o' £624 16s Id.

The Chairman, in moviDg the adoption of the report nnd bsitanco sheet, congratulated tho shareholders upon the success of tbe year's operations, and said that the lime sales showed the very substantial increase of abtut 25 per cent, above last year's sale?, which had shown a corre a p:>noing increase above those of 1895, the iucrc»>e bcii'g largely in agricultural lime, as farmers wore now thoroughly al'tva to the value of lime as a fertiliser. The railway rnbss for tigficultural lime having been reduced as from Ist innt. wou'd no doubt create a further increased demand, orders already coming in from districts hitherto eonsiderod bejond tho prnpanv's reach. In order to meet the greatly increased ilcra&nd for lime, the directors had found it necessary to erect another large kiln, aud fv>r some months past six kilns had been in full work. The demand still steadily increasing necessitated further kiln power, aud a teaond large kiln was now in course of erection. When this wan complete it would be possible to put out 1400 tons of lime perraontb, and-ifc was anticipated that during the coming season ttc full power would be required to mett tbe demand. The extra supply of fuel to the kilnh had quite overtaxed the primitive winding gear by horse-power hitherto iv use, which vraj now being replaced by powerful steam winding gear, arranged by the manager (Mr O.ikdeu) in such a position that the engine c uld be disconnected and u j cd for driving the crushing rol's, now bfinjr. driven intermittently by a portable enginf. This new winding gear would Lemuel) more < ffie'eut and economical for working both the Icilus and crushing plant. Tbe cemf.nt branch of the bi:fii.ic3s mi^ht now be safely ssid te have turned the corner-. As in the csise of lime, tbe gales showed a steady increase of about 25 per cent, over last year's gale?, which sbowfd about the same advancs above the previous ye.ar. The immediate protpecis were good, prices being well maiutained, with every bopa of cmti nuance. Early in the year Mr Oikden brcughfc under the notice of the directors the latest improvement in oenseut grinding rmchiDcry known as the "tubemill," invented in Denmark and lately p\tented in the co!ouies. The special features of this mill were its power of g.-ivding cem-nt to a fineness hitherto con side". >vi im possible — the residue on a mesh of 32,000 fo the equara inch being enly from 10 p£r cent, to 12 per cent., ai againsb frtim 40-_to 50 per cent on tbe i^ivsent English btandacd — and its economy of working. Ifc was at once resolved to send Mr Oakdeu to Denmark to examine and acquire this plant if up to specifications, and, if possible, the patent rights for the Auitralssian olonies. Mr Oakden left Danedin on tbe 18th February, and, travelling by tbe most direct route, without stoi>p?ge, ariived in Copenhagen on the Ist April. He at once made a clobo and thorough txaraiuation of the mill, both at work aud at rest, aud-being satisfied that it was in every respect up to expectations and entirely suitable for tbe requirements of ihe company, he completed the purchase of a tubemill and acquired the patent rights in connection therewith, and with the manufacture of silica cement for New Zealand and the Australasian colonies. Mr Oakden reached Dunedin again on tbe 4th August, the machinery having arrived a few days before him, and he at once proceeded to get it into position. It was now complete, had been tried, arid ran smoothly and well, and would be started upon cement during this week. At this early stage ib was hardly po*»ible to state with certainty what the results would be, but the directors felt justified in assuring shareholders that their btst expectations would be fully realised, and th%t tbe machinery was in every respect a complete success. Ifc meant doubling the output without any incrcatio of kiln power, producing a very much superior article at a very greitly reduced cost per ton, giving the company the command of the local, the colonial, aud possibly of. the Australian cement trade. The company also prepared to make a strong hid for the trade in hjdiaulic lime by producing silica by hydraulic iiaie — a better and cheaper article than the hydraulic lime now in the market. The directors hxd not yet decided in what manner the Australian business was to be handled, bub works for the manufacture of silica Portland cement would probably bs started at an early date in the Australian colonies. The directors were sxlißfied that the acquisitiou of these patent rights bad very materially enhanced the value of the company's properly, and placed the cement business upon an absolutely sound basis.

Mr Jam ks Smith seconded the motion for the adoption if the report, and in doing so congratulated the shareholders upon tho position aud proapeefcn oF the compmy. He referred to the value of One grinding as eliminating almost entirely the danger of disruption from the presence of free lime in the cement. He now regarded the cement branch of the company's hubinesa as most valuable, and thought that the company had a thoroughly good future before it.

Mr Hat.lenstein, in cpeaking to the motion, remarked that in the psst bis firm, one of the largest consumers of bricks and mortar in the colony, had always used colonial cement in their building operations, and that he had always found it in every respect satis! actory, except that the oljection had sometimes been raised that it was not sufficiently finely ground for finishing outside work. This objection ho now uaderstood would be entirely removed by the product of the new machinery.

Mr J. W. I3iundm;y also spoke, saying that he had been a director of the company from its formation, and had the greatest faith in its future, being satisfied that they bad now obtained plant which must command success.

The motion wa3 carried unanimously,

On the motion of Dr John Macdonai.d, seconded by Mr R. G. Wiilitjeb, the retiring directois — Messrs T. Brydone and John White — were re-elected.

Messrs Ban-, Leaiy, and Co. were re-elected auditors.

Mr Bbybonii propoied a hearty vote of thicks to Mr Oakden and the staff for the able and assiduous manner in which they had performed their duties, dwelling especia'ly upon the success of Mr Oakdeu'a mission aud hid*

continuous z?al in the interests of the company.

Mr James Smith seconded the motion, which was carried unanimously.

Mr Oakdbn replied^ thanking Messrs Brydoue and Smith for (heir kind references, and aßsuriug the meeting of his constant faith in the buccees of the company's cement busiue*'.

On the motion of Mr HAT.LENvrKiN, a hearty vote of thanks vras accorded to the directors.