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TOWN AND COUNTRY STORES
THE ANNUAL MEETING.
The first annual general meeting of
the Town * Country Stores, Limited,
was held at their registered office, 290
liundie street, on t'riduy afternoon. The
balance sheet, profit aud" loes account,
and the directors' Teport were read by the
secretary, and in moving the adoption, of
these reports the chairman said ihat the
bus-ness had been rapidiy growing during
the year. takings amounted to
considerably over £100,000 for the
past 12 months. The profile h«ad not
been ao much as anticipated, chiefly be-1
cause of the new branches that had been
opened, and it took a lot of expense and
initiatory work to get the new shops in
order. It meant that there was always
j a certain amount of lose for the start.
During the 12 montiie three branches had
been opened, one at Unley, one at Pros
pect, and a large one at Rundle street
east, and in all those branches the busi
ness now wa-i in good working order, an-rl
.was sat-efactory. The prospects for the
future were very encouraging indeed, and
as the first stages had now been passe 1
of the new company, there was every
prospect that the business of the next 12
months would prove everything that
could be desired. The premia&es leasei
and owned by the company were in
splendid order, and the experience that
the directors had . had for the first 12
months would be of great value in help
ing them with their future work. After
writing off certain amounts the chair
man stated that an 8 per cent, dividend
would be paid cm all preference shares
to date, from Sejtfember 1.
The report was adopted by the meeting.
The election of directors for the ensuing
year was proceeded with, and as there
were no new nominations, Messrs. C. J.
Young and S. J. Jacob? were re-elected.
On the motion of Sir. Gambling, seconded
by Mr. J. K. Thomas, Mr. A. R. S. Craig.
A-I.A-S.A*, was elected auditor for the
ensiling
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