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COLONEL GASKELL'S COMMENTS.

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COLONEL GASKELL'S COMMENTS. An ordinary general meeting of share- holders in Wm. Hancock and Co. (Limited). SoutJ* Wales brewers, was held at the re- gistdesd offices, Cardiff, on Tuesday, Colonel J. Ojskell. chairman of the company, pre- siding, and all the other directors were pre- sent, namely, Messrs. R. A. Bowring, J. S. Gaskell. C. A. Gaskell. F. E. Hancock, and P. F. Hancock. The Chairman, in moving the adoption of the report, alluded to the conditions affecting the general brewing industry of the country, the more important of which were the con- tinued depression in the business, the imposi- tion, for the first time. of a new burden—the compensation fund charge—the heavy legal costs to which owners of licensed houses had been again subjected in the defence of their properties, and the determination of certain magistrates to refuse to renew a large number of licenses, and to renew a further number only upon the carrying out of improvements, alterations, and even re-buildings. Against all these disadvantageous conditions, the trade could set one advantage only. the low price of hops which had ruled during the greater part of the year. No fewer than 19 of their licenses had been refused at brewster sessions, but five of the most valuable were re- gained on appeal. As to the present trade prospects of South Wales and Monmouthshire there was no doubt that they were distinctly better than they were twelve months ago. He moved that the report be adopted, and that a' dividend for the half-year ended May 31st last he declared upon the preferred ordinary shares at the rate of 6 per cent. per annum, and on the deferred ordinary shares at the rate of 10 per cent. per annum. Mr. Tudor Crawshay. in seconding the motion, complimented the directors upon the satisfactory results of last year's working. The motion was carried unanimously.

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