A SUCCESSFUL UNDERTAKING.
The statements made at the recent annual meeting of United Dairies, Limited, fully confirmed the favourable impression which had been created by the Report itself. That document showed that there was an advance in the profit of over £30,000, with an increase in the dividend from 10 to 11 per cent. Replying to criticism offered by some shareholders to the effect that the directors were ultra-conser- vative in the matter of dividend distributions, the Chairman. Mr. J. H. Maggspointed out at the meeting that the result of their policy 11 been enormously to strengthen the value of the shareholders' security, and of that I think there can be no question. The Chairman also pointed out that the effect of our departure from the Gold Standard was momen- tarily to stimulate trade in condensed milk, both home and export. The Continent, however, he added, had since been compelled to modify prices, so that without some form of restriction there was a danger of our markets being flooded with the dumped surplus of skimmed milk from abroad. A. W. K.
Previous page