Shareholder's Meetings of the Caledonian Mineral Oil Co. Ltd.

type: Companies - shareholders' meetings

Unique Code:
Source date:
09/11/1891 (approximate)

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1890 Annual General Meeting

CALEDONIAN OIL COMPANY REPORT. The first annual report the Caledonian Mineral Oil Company, just issued, which extends over little more than year, put the profit realised at £8469. After writing off therefrom for depreciation and £1268 for preliminary expenses the directors recommended payment of a dividend 5 per cent (absorbing £3,707) this will leave a balance of £592 to be carried forward. In view the unusually high expenditure for fuel and labour during the year, and the dislocation of the business caused by the railway strike, the Directors are amply satisfied with the year's results. The prospects for the current year are spoken of as very encouraging.  

The Edinburgh Evening News, 9th July 1891

1891 Annual General Meeting

Caledonian Mineral Oil Company.— The second annual general meeting of this Company was held in London yesterday— Mr A. J. Macdonald in the chair. Ths Chairman said the prospects of the Company had improved much. During the last three months further shale had been found, and they had been able to extract 32 gallons of oil per ton, which was considerably in excess of the estimate made by Messrs Neilson & Thomson. They expected to issue some new shares next year, as the need for new capital would be experienced as the new works were completed. A new bore had been made near to the works. The Directors had not claimed the whole of their fees, Mr Sutherland seconded, and the motion was adopted. Mr Chisholm, a retiring Director, was re-elected. The Chairman said the managers thought it would be well to have some Director in Scotland, and during the next few months they would probably take some means to carry that into effect.

The Dundee Courier, 16th July 1891