THE eighteenth ordinary general meeting of members of W.P. Lowrie & Co (Ltd.) distillers and blenders, was held yesterday in the Company’s registered office in Glasgow. W. Harrison, O.B.E., J.P., presided.
The Chairman, in submitting the accounts for the year ending 31st March 1923, said that, notwithstanding the continued unsettled conditions during the past year, the figures shown in the balance-sheet were highly satisfactory. At the outset he expressed his disappointment that the Chancellor in his Budget had not seen his way to reduce the spirit duty along with beer. He remarked that the commercial community were thankful the Chancellor had granted a small reduction in income-tax, and had reduced that most iniquitous of taxes, the Corporations Profits Tax, by 50 per cent, and it was to be hoped next year we would have a further reduction in income-tax, and that the Corporation Tax would be abolished.