Description

The Oakbank Oil Company Limited, Report by the Directors and Abstract Balance Sheet for Year Ending 31st March 1918. To be submitted to Thirty-Third General Meeting of the Company on 22nd 1918. Details the: Profits and loss account Dividends Directors changing or retiring Liabilities Assets Balance sheet also states that: 'Abnormal conditions have prevailed throughout the year, due to the War, and while with great effort the production has been maintained, it has not been possible to effect any material increase, chiefly owing to shortage of labour. There has been a further considerable advance in the costs of manufacture, and on the other hand higher prices have been obtained. The Directors are pleased to inform the Shareholders that, as a result of negotiations with the Boards of the other Scottish Oil Companies, it has been arranged to form a Central Agency under the Companies Acts as a Private Company with limited liability, for the sale and distribution of the products of all the Companies, and taht a Provisional Agreement has been adjusted, which embodies a working arrangement likely to prove beneficial to all concerned.'

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