COMPANY MEETINGS
ALLIED INDUSTRIAL SERVICES
HIGH LEVEL OF PRODUCTION THE eleventh annual ordinary general meeting of the Allied Industrial Ser- vices, Ltd, was held on Friday, October 26th, at Manor Row, Bradford, Mr. Walter H. Rhodes (chairman of the company) presiding. The secretary (Mr. C. Gordon Slaker, C.A.) read the notice convening the meeting and the report of the auditors. The following is the speech of the chairman, which had been circulated with the report and accounts and was taken as read: Ladies and Gentlemen,—During the year ended June 30th last the pro- duction of our various departments was maintained at a high level and- in a number of sections exceeded that of previous years, with the result that a moderate increase is reflected in trading profits. At the conclusion of this last year of the war it is proposed, as you will read in the directors' report, that apart from the usual war-time dividend on the Ordinary shares a small cash bonus of 2d. net per share be paid on each of these shares.
I feel that at this juncture I should remind you of -the remarks I made a year ago---that the change from war to peace would bring with it a certain amount of trading difficulty and some measure of dislocation ; the opening months of the current trading year, coincident with the sudden termination of hostilities, have, in fact, shown a certain amount of disloca- tion in our activities as predicted, and which is inevitable in varying degree during the period of change-over to post-war industrial conditions.
If you will now refer to the report and accounts you will observe that after providing the sum of £165,200 for taxation the net profits for the year amount to £76,772, which are available for allocation and distribu- tion as set out in the accompanying report, to which your approval is sought. While our fully-skilled labour force is as yet as depleted as at any time during the war, we look forward to a steady increase in the number of our people returning from the Forces.
I have now great pleasure to express our thanks to all those associated with the company for their efforts during the past years and look with confidence to their co-operation in the post-war period into which we have now entered.
The report and accounts were unanimously adopted.
The retiring director, Mr. G. H. Swinton, was re-elected, and the audi- tors, Messrs. Rawlinson Greaves and Mitchell, having been reappointed, the procc.-ciinr,. terminated
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