ADAIR BROS., LTD

Poverty Bay Herald, Volume LX, Issue 18193, 14 September 1933, Page 2

ADAIR BROS., LTD

SHAREHOLDERS’ MEETING 2 Yf c DIVIDEND PASSED Tlie mutual meeting of shareholders of Mails. Adair Bn*., Linuted, was held Disfe evening in the company s show ;1, - **j“ ,| sSߣ shareholders. l>r. L W . \\ imams, chairman of directors, presided. Iu living tlie adoption of the report and balance-sheet, recently published, the chairman said that tlie company haA oassed through a very difficult jeai trading in common with all businesses o a similar nature, but it was gratifying to know that the company had come out on the right side of the ledger, and as far as the future was concerned theie was every prospect of the country emerging successfully from the present position. Dr. Williams loretold that tht effects of the recent rise m prices of wool, butter, and meat would soon be felt in Ibis district. Mr C H. Ambridge. the. companj s vainer, in seconding the motion, commented favorably upon the clean and up-to-date condition of the stocks, and on the enthusiasm of the staff. The directors’ recommendation to pa> a dividend of 2' per cent, was carried IU No poif was required for the appointment of two directors, the retiring members of the board, Messrs. T. Corson and J C N. Thomas, being returned unopposed. The auditors, Messrs Graham, and Dobson, also were re-elected. The meeting carried by acclamation a hearty vote ol thanks to the managing director, the secretary, and the staff, proposed on behalf of the shareholders bv Mr E. Hampton, who made eulogistic reference to their excellent service. In expressing appreciation of the motion, the managing director, Mr. it. i. Duel died,, referred to the difficult year through which the company had passed, and to the necessity for keeping the company's stocks up-to-date, due to the frequent changes in fashion and also to the great variety of materials offering, the selection of materials, nine months aheifd. that would prove most acceptable to the buying public being an extremely difficult task. Mr. Doddrell added that he looked forward to the future with confidence, and trusted that next year would produce better results. The meeting closed with a vote ot thanks to the directors and the chair.