KEMPTHORNE, PROSSER AND CO.

Taranaki Herald, Volume LXII, Issue 144359, 25 March 1914, Page 6

KEMPTHORNE, PROSSER AND CO.

THE ANNUAL REPORT

PEB PRESS' ASSOCIATION. DUNEDIN, March 24. The annual meeting of shareholders ill Koiupthorno, Prosser and Co’s. Now Zealand Drug Company was held today. Tho annual report staled that tho balance from last year was £8629 fe Id, and tho net profit for the year, after deducting loss by the fire at Westfield works, Auckland, was £13,918 Sis 3d, making £22,447 15s 4d. An interim dividend paid last July at tho rate of 7 per cent, per annum absorbed £8364 19s sd, leaving a balance of £14,082 15s lid. The directors recommended payment of a dividend at tho rate of f per cent, per annum, absorbing £9087 17s fid; provision for tho removal of certain buildings and plant at Westfield, owing to tho erection n( new works. £1276; the addition of £625 to the general reserve, which, with tho addition of £4375 from share premium account, will stand at £45,000; and that £3094 18s od bo carried forward.

11l moving tho adoption of tho report, tbo chairman of directors, Mr. Win. Brown, said the fire at Westfield works caused a loss of £10,016 18s 7d. Tho report and balance-sheet were adopted. Tho retiring directors, Mr. A. Bathgate and Dr. Ogston, were re-elected, and tho retiring auditors were also reelected.