7 JULY 1939, Page 40

SANGERS' GOOD PROGRESS

Mr. Frederick John Smith, the chairman of Sangers, the manufacturing chemists, told the shareholders that he was not sorry that the Chancellor of the Exchequer had refrained from repealing the medicine duties in his last Budget. He emphasised that the directors had always exer- cised great care to avoid exaggeration in their advertising material, and that in his view the proprietary medicine must be founded on sound premises, if it is to meet with any continued success. The company are, he said, to extinguish their bank loan when it can sell the balance of its Govern- ment securities without sacrifice.

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