WILLIAMS & KETTLE, LTD.

Poverty Bay Herald, Volume XLVII, Issue 15543, 11 June 1921, Page 3

WILLIAMS & KETTLE, LTD.

ANNUAL MEETING. Tho 30th annual general meeting of tho shareholders of the above company was held at the company’s otlice, Browning Street, Napier, on Thursday, Mr N. Kettlo presiding. Tho following were present or represented by proxy : Mcsdamcs L. E. Bitch, F. Al. Ramsden, Al. E. Maclean, F. W. Williams, S. Wood, A. lveson, I). F. Williams, A. M. V right, E. H. Ferguson, Alessrs, F. W. Williams, ,J. It. Coleman, B. Chambers, E. Gordon Williams, L. H. Ale Hardy, H. A. Russell, W. T. Williams, F. Logan, A. E. Turner Williams, C. 11. Hetley, W. T. Edgecombe, T. Taylor, J. It. Dean, F. V. Kettle, R- D. Kettle, R. l’inckney, \V. J. N. Maekay, J. Keeling, G. C. Williams, K. S. Williams, A. AL Williams, W Slnimpton, D. At. Gollnn, C. O. J’. Brandon. J. W. Harding, W. ('. Oacuia Birch, T. R. Moore, Trevor Thomas, F. Hall, Alfred Giblin, AVm. Bruce, S. Bolton, Al. O'Callaghan, W. A. Todd, F. B. Blandish, A. E. Cowley, A. C. Bishop, 11. AL Kies, J. Britten', 8. Corlett, C. H. Sax by, B. P. Houghton, E. lveson, J. R. Fairley, Geo Jameson, A. McPherson, F. J. Simpson. The annual report was as follows:

The directors have pleasure in submitting herewith accounts of the company, vi/,., balance-sheet and profit and loss account, for the year ending March 31st, 1921, duly audited, and have to congratulate shareholders on the satisfactory results of the past year's working. The net profits for the year, after providing for all necessary depreciations and bad debts, amount to £23,567 14s Id, to which has to he added the undivided balance from last year, £2700 14s 3d. Total available for allocation' £26,268 8s 4<l. During the year rebates have been made to shareholders of 2 per cent, on all goods purchased, 5 per cent, on land commission and 10 per cent, on other commissions contributed,'and £5519 2s 8d added to reserve. Tho directors now recommend that the balance available for allocation lie appropriated as follows fn payment of a dividend at the rate of 7 per cent, per annum on capital, and the balance carried forward. During the year 5184 shares of the new issue have been allotted. In accordance with the articles of association, three directors, Messrs J. IT. Coleman, A. S. G. Carlyon, and X. Kettle, retire by rotation, but, being eligible offer themselves for reelection. Tho auditors, Alessrs Robert Dobson and Co., retire, hut being eligible, also offer themselves for reelection.” On the motion of the chairman, seconded by Mr J. 11. Dean, tho report and balance-sheet was adopted. The retiring directors, Messrs ,T. IT. Coleman, A. S. G. Carlyon, and N. Kettle, were re-elected, as also were the retiring auditors, Messrs R. Dobson and Co. A unanimous vote of thanks to the directors, managing director and staff for llio very efficient way in which the company's affairs have been conducted tv as passed on the motion of Air F. Logan, seconded hv Mr A. E. Turner Williams.