GRIFFIN AND SONS, LIMITED.

Colonist, Volume XLIX, Issue 12019, 21 August 1907, Page 6 (Supplement)

GRIFFIN AND SONS, LIMITED.

The twelfth annual meetingfof tjbe jsbnra<.Jolder3 iv the above Company was held last week, when thieve waslj a good attendance. t Mr J. 11, Code presided. . "^ Thi» minutes were confirmed. Tho report of the Directors 'and audit ed balance-sheet were presented. The report stated : — ! "The accompanying balance-sheet and proht and loss account for the year «3nded 31st May, 1907, shows a profit, after writing off depreciation and bad debts, of £100 17s 2d, which amou.nt it is recommended be carried forward to next year. " "Increased trade competition, sborta.ge of juvenile labor, and advanced prices of raw material, have combined in presenting a better profit being shown for- the year's operations. The business of the Company, however, has been well maintained, and it is hoped that with still greater economy in working, your Directors may be able to show that the position -of the Company has further improved at the end of the current year.

"Your Directors regret that Dr. Hudson, who has be«n on the Board ever since the formation of the Company, found it necessary, owing to hi 3 leaving Nelson, to resign his seat, and Mr F. W. Hamilton has been appointed by the Board to fill the vacancy. This appointment, it is believed, will meet with the approval of shareholders.

"Messrs Duncan and Hamilton are the retiring Directors at this meeting, but are "eligible, and offer themselves for re-election. " ,

The -Chairman, in moving the adoptionfcof the report and balancesheet, very carefully reviewed the operations of the Company tor the past year, pointing out the work dons in the* way of effecting economies, and Ihe difficulties the Directors had had to contend with. He also dealt fully with the future prospects of the Company, and pointed out the keenness of competition, and the dearth of juvenile labor. The new Tariff rates were also alluded to as being a mixture of benefit and harm. Th£ additional duty ou imported confectionery while helpful, was more than counterbalanced by the^lheavior duties on * materials needed in the manufacture of the Company's goods. The whole of the staff and workpeople had ably assisted the Directors, and there had been, no complaints.

Mr Hayes seconded the motion, which was carried^unanimously.

On the motion of Mr W. T. Bond, seconded by Mr Hayes, Messrs H. R, Duncan and F. W. Hamilton were re-elected Directors, and both gentlemen returned thanks, intimating their desire to 8o all they could to advance the interests of the Com pany. On the motion of Mr A. U.- Bisley, seconded by Mr Selby, Messrs Wr S. Hampson and F. A. Bamford were re-elected as Auditors, their fees to be the same as previously,

The Chairman invited questions, and a number were asked, and were answered by Mr George Griffin.

On the motion of Mr Selby, seconded by Mr W. T. Bond, a hearty vote of thanks was carried by acclamation to the Directors for their valualbo and painstaking services.

A vote of thanks to the Chairman brought the meeting to a close.