THE D.I. C.

Gisborne Times, Volume XXVI, Issue 2236, 31 October 1908, Page 4

THE D.I. C.

ANNUAL AIEETING. [Phess Association.] DUNEDIN, Oct. 30. The annual meeting of shareholders in the Drapery and General Importing Co. was held to-day. The report stated tliat the net profit for the year was £14,946 15s 6d, which, with £2822 11s Bd brought forward, made a total of £17.769 7s 2d. An interim dividend of 6 per cent on preference shares absorbed £3750, leaving £14.019 7s 2d available for division. The directors recommended a dividend of 6 per cent on preference and ordinary shares, leaving a balance, less bonus 2J per cent to shareholders on purchases, of £3915 2s 3d. The chairman stated that the directors had written off about £4OOO for extra fire loss, beyond the amount recovered from the insurance companies, for rent and fixturiug temporary premises after the Christchurch fire, and started the year with a clean sheet. He referred to the very satisfactory advance in the company’s business in Dunedin and AVellington. and to the support given by shareholders and friends in Christchurch. The chairman ffiso mentioned the stringency of the money market, and said that economy must be studied privatelv and publicly. The report and balancesheet were adopted. Messrs Hart and Deßeer were re-elected directors.