A Worthy Beginning

Waipukurau Press, Volume XXVI, Issue 118, 4 June 1931, Page 7

A Worthy Beginning

FERTILISER COMPANY’S AFFAIRS

FIRST ANNUAL MEETING HELD DUNEDIN, Tuesday. The first annual meeting of the Dominion Fertiliser Company was held to-night. Air. Peter McSkimming presided over 70 shareholders. Tracing the history of the company, which went to allotment in November, 192 9, the chairman stated that the buildings had been completed in February last and manufacturing had been started six months ahead of the date originally proposed. Share capital payments to date exceeded £2 08,00 0, and in addition a further sum of £20,000 had been placed in debenture capital. All payments on the building account had been met in accordance with the certificates of the engineer and architect.

Speaking of the company’s product, Mr. McSkimming claimed that the Ravensbourne works were the only works in the Dominion fitted with a complete aeration plant, and mentioned that the price of superphosphate was to-day approximately 2 7/6 a tone less than when the company started. On the basis of last year’s output this represented a saving of over £125,000 to the farmers of the South Island. Two shareholders congratulated the directors on the position attained by the company, and stated that it was assured of the support of farmers both individually and through their organisations. The retiring directors, Messrs. McSkimming and James Fletcher, were re-elected.