COMPANY MEETING
SMITH'S POTATO CRISPS
STRONG FINANCIAL POSITION THE 12th ordinary general meeting of Smith's Potato Crisps (1929), Limited, was held on June 4th at the Holborn Restaurant, London, W.C.
Sir Herbert E. Morgan, K.B.E. (the chairman), said: You will no doubt have seen that we propose to pay the same dividend as last year, together with the same cash bonus, and this, from the share- holders' point of view, is probably the most interesting statement that I can make.
A comparison of the trading between this year and last shows that the results are practically identical, the only outstanding difference being an increase of about £28,000 in our provision for taxation. The maintenance of our profits and the strength of our financial posi- tion are proof positive of the soundness of the enterprise. It is a privilege to be able to say at this 12th annual general meeting of the company, that since the days of its creation we have made increasing progress and steadily gathered strength.
In reviewing the fortunes of your company, I do not think I can over-emphasise how much of its success is due to its product—Smith's Potato Crisps. The problems of the housewife arising out of the war are sometimes strange and troublesome, but as in times of peace our Crisps have been a standby, and an always reliable friend—they are additionally so in these days.
Put broadly, Smith's Crisps are six tunes as nutritious as ordinary potatoes and produce six times as much heat and energy. The ordinary boiled potato has only 18 per cent. of solid food—Smith's Crisps have 92 per cent. The great dietary defect of the ordinary potato is that it contains no fats. Smith's Crisps cooked in fine oil contain 33 per cent of fats.
EXCELLENT EMERGENCY FOOD
In boiling the potato many of its valuable mineral salts are lost. That is why all cookery experts urge housewives not to waste their potato water. In Smith's Crisps every atom of the valuable mineral salts is preserved—encased in oil. Cooked in pure oil it is a substitute for the fats lacking in the potato, Smith's Crisps are easily digested, most. nourishing, do not fatten, and contain valuable vitimins. In addition, Smith's Crisps are an excellent emergency food. The lightest, most portable food. They can be taken on a journey and taken to the air raid shelter. They need no cooking, will keep a considerable time, and are invaluable for men on active service, or any of the many workers in these times who have great strain and uncertain hours for meals. Prepared and packed under the most hygenic of conditions, Smith's Crisps are one of the most nutritious and valuable foods on the market today.
We are living in testing times. They are a test of our organisa- tion, our staff, and our product. In all these three vital tests of a great business ours comes through with flying colours.
POPULARITY MALNTAINED
As regards our product, that, I can say, has more than maintained its popularity. A certain shortage at times has only accentuated the eagerness of tne public to obtain supplies. Needless to say, the demand for the Troops has been on a very large scale and we have done our best to cope with it I should like to suggest here that ine public must have a sym- pathetic understanding of the difficulties facing the retailer, not only in connection with such a product as ours, but of all products in general demand. The problems of the retailer do require sympa- thetic understanding. It is not a pleasure to him to be unable to supply his customers; it is not a pleasure to him to say " I am sorry we have no Crisps today." Everybody concerned in the retail trade has had their own special worries to face and one only has to see the gallant way in which they resume business after the effects of air-raids, to realise how they too are a part of the unconquerable spirit of the British people.
I am sure all retailers appreciate their wholesalers' and manufac- turers' problems—many of which are exactly similar to their own— and give them the consideration they expect themselves Amongst our principal distributors are the licensed trade and they in particular have had many trials to overcome. In normal times the mysteries of our licensing laws have of themselves been a constant and worrying problem. The licensed trade have these in addition to the special burdens placed upon them by war legislation and the resulting effects upon the habits and c:utoms of the people I know they are playing a great part in the national effort and every sphere of the citizens' duties is being loyally fulfilled by them.
I am glad to say that our great agricultural enterprise in one of Britain's most fertile counties has maintained its progress and is play- ing its full share not only in the fortunes of your company, but in the production of food for the nation.
I have touched upon the work of our managing directors, and I am sure yoa would like to cypress your gratitude to them, as well as to the staff We have been fortunate in carrying on with the same officers and a large majority of the'crew, since the birth of the com- pany. It is my profound hope that at the first meeting of the company after the declaration of peace the same thing may be said.
The report and accounts were unanimously adopted.
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