James Hinks and Company: The annual meeting of the shareholders in this company was held on Friday at the offices of the company, Great Hampton Street, Birmingham, the directors present being, Mr. Joseph Hinks (Chairman), Mr. Ross Pinsent, and Mr. Harry Hinks (Managing Director). The statement of accounts and balance-sheet submitted showed net; profits for the year £7,987 16s 5d, which, together with the balance brought forward from last year, amounted to £10,928 17s 8d. A half-yearly dividend of 71/2 per cent, per annum had already been paid on the old capital of the company, absorbing £2,357 3s 1d, and the directors; now proposed to pay a final dividend 171/2 per cent, for the half year on the reduced capital, and after making, provision for sinking fund and general reserve, to carry forward the balance, £2,975 7s, to next year. In moving the adoption of the report and balance sheet, the Chairman said he still had the pleasure of announcing a satisfactory and successful state of affairs. Not only had, the shareholders had 25 per cent of the amount of their original holding returned to them by the reduction of capital, but as much money was now being distributed in dividend as before the reduction. In taking stock everything that did not appear in their latest catalogue had been put at so low a price that it could easily be realised, and their machinery stood in their books at breaking-up prices. The whole of their goodwill had paid off, and altogether they were in a very happy position. The report and account were unanimously passed, and Mr. Pinsent was re-elected a director.
Transcribed in whole or part from scanned originals: Presented with or without modified text and punctuation. For absolute accuracy refer to the original newspapers. Source: The British Newspaper Archive.
Referenced
GRO0009 Devonport: Adolphus Ross Pinsent: 1851 – 1929