COMPANY MEETING
HUDSON'S BAY CO.
THE 276th annual general Court of the Governor and Company of Adventurers of England trading into Hudson's Bay was held on August 7th in London. The following is an extract from the circulated statement qf the Governor, Sir Patrick Ashley Cooper :
The company's trading profits have been maintained at a high level, although somewhat less than the record figures of the preceding year when the Fur Trade Department yielded abnormal returns. Land Department receipts on account of capital and revenue are the best since 1919. New high records in sales and profits have been achieved in the retail stores department, which provides the bulk of the company's trading profits, in spite of depleted staffs and difficulties in replenishing stocks which greatly increased the labours and responsibilities of execu- tive officers and all concerned in the successful operations of the past year.
Fur Trade Department profits, although satisfactory, compare un- favourably with the abnormal figures of the preceding year. The past year was one of falling prices owing to the reduced demand for some types of furs and to the increased sales tax in U.S.A. on manufactured furs.
The report was adopted.
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