1946

Business was steadily expanding and it became an urgent necessity to return to Glover Street. It was stated by Dr. Simon at a meeting of Directors on the 11th January, that negotiations had commenced with the North West Midlands Joint Electricity Authority with a view to the company acquiring a lease of the whole of the Glover Street premises. An offer of a 5 year lease had been received at a yearly rental of £700 and this would be accepted by the company. At the thirteenth A.G.M. held on the 21st January two proposals were passed that Mrs. I.F. Bostock and Mrs. D. Bostock be appointed Directors of the company.

{_48_} which lists the employees and weekly wages paid in 1946 shown that there were three office staff, eleven polish and chemical production workers, six waterproofing applicators and three salesmen. The hourly pay varied between 10d and 1/1d and those men working on waterproofing contracts were earning well above average pay due to the long hours worked. The net work force wage bill for the week shown in {_48_} was £73-2-7. By the 27th July 1946 the move back to Glover Street had been completed. In a meeting of the directors held on the 13th September it was stated by Dr. Simon that for the past few months the company had been unable to occupy all of the Glover Street Premises. During the war buildings had been used by the Ministry of Supply to store materials used by the Universal Grinding Wheel Co. and they had not complied with the Ministry Directive to vacate the premises by the end of June. Dr. Simon reported that there had consequently been a considerable shortage of manufacturing and storage room which had greatly hampered progress of the company. Dr. Simon had received a promise that the final 200 tons of stores would be removed on the 14th September. but he was worried that if there were further delays our own products, which had been stored outside, could be damaged by frost. He stated that our solicitors were now looking after our interests in this matter. Dr. Simon then gave a resume of the company's progress to the 5th September. 1946 which was:

Turnover for the first quarter £11,700
Turnover for the second quarter £  8,900
Turnover for the third quarter £11,360
Turnover for the fourth quarter £14,000
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Total £45,960

He further stated, that the sales of polish had considerably decreased this year and Chemicals sales had sharply increased. When Government restrictions were lifted in January 1945, most buyers of polishes immediately purchased large quantities which were only being disposed of slowly. Our own major wholesaler had placed no orders at all for polish in 1946 and Dr. Simon now felt it was time to start manufacturing more of his own chemical products. He informed the Directors that we had recently obtained an allocation of vegetable oil for the manufacture of paints and in his opinion there was an excellent market available which must be exploited. The Directors report for the year ending 1946 is given in {_49_} and this is the first year that the company achieved a credit balance.