The second annual general meeting of shareholders was held on Tuestiay, 12th January, 1892, at the Company's offices, Present: Messrs. R. Mackenzie (Chairman), G. McBain, T. Chambers (Directors), J. Findlay (Secretary), S. Bowness, P.' V. Grant, J. Jaques, H. Kirby, W. G. Moore, C. A. Pullan, H. J. Such, J. A. Sullivan, S. Walker and J. Whittle, representing in all 2,707 shares, The notice calling the mee having been read, The Chairman suid—The report has been in your hands for " long time and with your permission we will take it as read, I have very little to add to what there is in it, The peculiarity of it is that the result of the past year has been nearly the same that of the year before, the difference being infinitesimal, In the profit and loss account the interest account 18 a little less, rent account is little less, and transfer fees ure less. The property account stands a little higher, Tls. 433 having been added to it during the year. That was the cost of a uew godown, built near the Acid Works, for the storage of match chemicals, which can be insured when they are placed in a godown like this. Plant and furniture show an increase, accounted for by the new gas engine which was purchased before the last annual meeting but was not 1n the accounts, atid also by a new engine for the Munch, ete. The business of the Company keeps going on steadily, and the Directors have every reason to believe that it will continue to do so and even to improve.
Mr. Sullivan said he saw they kept writ off goodwill, He did not wish to question the soundness of the book-keeping, but as good-will was purchased as un usser he thought it would be more advisable to put down depreciation instead of to writeoffyuudwill, Heasked to what amount the Directors proposed to write the goodwill down, The Chairman said the Directors had not fixed any amount, It seemed to be the custom te off goodwill attention. The interest charged to working account for keeping up the plant was about equal to the depreciation, Mr. Jaques pointed out that writing off goodwill reduced the interest to be paid.
The Chairman then moved, Mr. McBain seconded, and it was agreed That the report and accounts as presented and published be passed.
On the motion of Mr. Jaques, seconded by Mr. Walker, it was resolved That Mr. Mackenzie be re-elected as a Director for tie current year.
The Chairman moved, Mr. Sullivan seconded, and it was agreed That Mr. Wilmer Harris be re-elected as Auditor for the current year and that his remuneration be as heretofore is. 200.
The Chairman said this was all the business before the meeting.
Mr. Walker asked if the keen competition spoken of in the report had ceased.
The Chairman said it had. It lasted about six months. The Directors had made satisfactory arrangements which they hoped would be lasting.
Mr. Jaques observed that he would rather see an increased dividend than a stationary one.
The Chairn: an—We should all like to see that, Mr. Jaques. We can only keep our eyes open and meet competition as it arises. We have nothing of that kind threatening ab presen!
Mr. Sullivan moved a vote of thanks to the Chairman, which was carried, and the meeting terminated. and Quinine Liver Pills, without Mercury. are a potent remedy; remove all Liver and Stomach Complaints, Biliousness, Headache, Sickness, Shoulder Pains, Heartburn, Indigestion, Constipation. Made only in London, Sold everywhere,
Text read from the printed page and cleaned; old type leaves the occasional error.