C.D.C., LTD.

Colonist, Volume LVII, Issue 13783, 2 June 1915, Page 3

C.D.C., LTD.

The third annual meeting of shareholders in the Cash Drapery and Genoral Importing Company. Ltd.,. of Nelson, was held at the Institute .ast evening. The chairman of directors, Mr Win. Wilkons, presided over a good attendance. <

Th<3 directors' ait mi a.I report and bal-ance-sheet was .submitted to the meeting and adopted. In moving the adoption of the report and "balance-sheet, the chairman referred to the great strides made by the company during the past year, necessitating increased accommodation at Nelson and Rockville. The sales for the year just closed showed an increase of over £4000 on the previous year, and over £6000 on the company's Jirst year of business. The business dene showed a substantial rate of profit. v The profit and loss account, after providing the 10 per cent, bonus to shareholders, writing down the goodwill account considerably, providing for depreciation of plant, and bad debts reserve, etc., showed a substantial balance, with which to pay a dividend of 5 per cent, (for the third year in succession), and a considerable sum to carry forward to the next year. It Ayas resolved by the iheeting that a dividend at the rate of 5 per cent, be paid to shareholders on the amount of their paid-up capital. Messrs Walter Thorn and "Win. Wilkens, the retiring-directors, were reelected. Mr J. E. Mil-K-r was re-elected auditor. . It was decided, on account of the increase in business in connection with the compauy's country branches, to increase the number of directors from

seven to nine. With a view to paying more attention to tho company's country customers and shareholders, it was decided to purchase in the near future an up-to-dato motor lorry. It was resolved that it he a recommendation to the directors that the share register be left open at their discretion. Votes of thanks and confidence,were accorded to the directors, and to the manager, and staff, and the meeting closed with a vote of thanks to the chairman.