THAMES FISHERIES, LTD.

Wanganui Chronicle, Volume 76, Issue 302, 22 December 1933, Page 10

THAMES FISHERIES, LTD.

A FURTHER LOSS SHOWN. THAMES. Dec. 15. The annual meeting of shareholders of Thames Fisheries, Limited, was held las* evening, Mr. J. Kesnick, chairman of direntors, presiding. The directors’ report stated that a further loss had resulted from the operations of the past year. The difficulty in obtaining satisfactory supplies had caused a considerable decrease in the turnover, while little profit had been possible on the actual sales owing to continued price-cutting. The reduction in expenses for the year under all heads amounted to £869. Every effort had been made to effect an agreement between the local fish companies in regard to prices, but without avail. A number of meetings of representatives of the local companies had been held under the chairmanship of the borough commissioner, Mr. C. L. Grange, and thanks were due to him for his endeavour to assist the industry. The directors considered that business could not profitably be continued under present methods, and plans for a satisfactory reorganisation were under consideration. An assurance was given by the directors that the company’s uncalled capital would not be called up without reference to shareholders. The balance-sheet, disclosed a net loss on the operations for the year ending September 30 of £938. The previous year there was a loss of £lO4l. The retiring directors, Messrs. H Lowe and A. Garrett were re-elected.