WILLIAMS & KETTLE, LTD.

Waipawa Mail, Volume LXVI, Issue 95, 18 May 1938, Page 1

WILLIAMS & KETTLE, LTD.

THE YEAR’S OPERATIONS SIX PER CENT. DIVIDEND. “The directors have pleasure in presenting the company’s 47th annual report and balance-sheet, and congratulate the shareholders on the satisfactory year’s working, which resulted in a net profit of £13,734 2s Id, to which has to be added the balance carried forward from last year of £10,792 14s 2d, thus showing a total available for allocation of £24,520 10s 3d.” This statement was made in the presentation of the annual report of Williams and Kettle, Ltd., at the 47th annual meeting of the company held in the company’s office at Napier. The Hon. Harold A. Russell, M.L.C., chairman of directors, presided. In moving' the adoption of the report and, balance-sheet, the chairman referred to the satisfactory position of the affairs, and stated that although the decline in wool values had considerably affected the earnings of the company, he was pleased to say that through the activities of the company a general improvement in business had been shown, wtih the result that the directors were happy to be in a position to recommend payment of a dividend of 6 per cent, on paid-up capital and the balance to be carried forward. Rebates to shareholders on business contributed have already been paid on the basis of 11 per cent, on land commissions contributed, and 10 per cent, on other commissions contributed. The retiring directors, Messrs N. Kettle, F. L. Gordon and E. G. Williams, were re-elected. The retiring auditors, Messrs Robert Dobson and Co., were re-eleeted. A hearty vote of thanks was passed to the directors, general manager and staff for the efficient way in which the business of the company had been conducted during the year.