WARING AND GILLOW. •
At the meeting last week of Waring and Gillow there was a very frank and animated discussion with regard to the general position' of the company and the proceedings ended in something in the nature of a compromise between the Board and those at the meeting who were disposed to criticize this policy. Altogether, however, the criticism was not of an unfriendly character. The Chairman, Mr. Ivan C. Sanderson, was able to state that alterations in the admin- istration had resulted in savings by way of overhead charges for the first five months at the rate of £180,000 per annum with no sacrifices of efficiency. A serious trading loss, however, had been made for the year, and he stated that the directors hoped to place before the shareholders, with as little delay as possible, a scheme for the reorganization of the capital.
* *
Previous page