BRUCE WOOLEN COMPANY
THE ANNUAL MEETING. DUNEDIN, Wednesday. The annual meeting of shareholders of the Bruce Woollen Manufacturing Co., Ltd., was held to-day. In moving the adoption of the annual report and balance-sheet the chairman said lie thought shareholders would agree that in view of the economic position Lhe company had had a very successful year. Mr A. E. Stewart, who seconded the motion, compared lhe position of lhe company live years ago with the position as disclosed in the balancesheet. The company’s capital had been increased by £50,000, outstanding accounts had been reduced by £I4OO, taxation reserves had decreased by £BOO, deposits and bank overdraft had decreased by £25,100, and the balance on profit and loss account had increased from £3B to £3955. The value of plant and premises had increased by £11,500, debts had been reduced by £4236, and stock had been increased by £22,571. Advances to workers had decreased by £2629 to £2592. .Mr Stewart said the company had not been able to pay a dividend on ordinary shares, but in the past four years dividends to preference shareholders had amounted to £6925. The total profits during 'the past five years had been £23,772.
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Waikato Times, Volume 110, Issue 18478, 5 November 1931, Page 2
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197BRUCE WOOLEN COMPANY Waikato Times, Volume 110, Issue 18478, 5 November 1931, Page 2
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