SHEEPFARMERS’ FROZEN MEAT CO.

Gisborne Times, Volume XXVII, Issue 2625, 6 October 1909, Page 2

SHEEPFARMERS’ FROZEN MEAT CO.

.(SSTAI REPORT'.

TTm> report -aad balance-silent to He' submitted at- the annual meeting..of Hie- - Gisborne Sheepiarmera’ Frozen- MeatCo., Ltd. which is to be presented atthe annual .meeting of the Company on. Saturday, November 27th, are The report is as follows: “The stock treated lor tho year were.Sheep, 246,QtMb; - lambs,. 98,845; -esttle, - - 7809 ; calves, 244 k “£IO,OOO has been paid off fixed 3 mortgage,-', aftik a; farther amount- of; £2500 has been provided in London ifor payment off.in: ©btober‘‘Concessions upon the- volume; of produce brought, to the works have been allowed to shareholders and clients amounting, to Hoe - sum: of £2513 3s 1011. These have been paid- “ The company could not have dealt with the stock which offered if atidi-■ tional plant had not been installed. Tho ito'.v plant substantially reduced tho : cost of freezing working, and entirehl justified its irittocSictiora.. “It is proposed this year to commence j a fund for the equalisation; of the dihj tribnfion of orofife-

“It is recommended that the profits of the year should be appropriated as ! follows: —Equalisation of distribution of'; I; profits £10.600. leasehold sinking fund : £7OO. accident reserve fund £SOO, ma- : rine insurance fund I '£soo', 5 per cent : depreciation upon machinery and plant, j £2*539 Bs, old lightering plant, written : off £IOOO, dividend’ on - ordinary shares- . at 6' per cent £‘l4lo-: Is 2d, dividend on ; bonus shares at 4 per cent £728 10s sd, bonus at 3d to shareholders supplying ! produce £3159 14s 4d, bonus to shareholders upon wool at Id per adult' sheep £844 19s 3d; total', £21,382 13s > 2d ; balance carried forward, £7542 7s 7d grand total. £23j920 0s 9d.

“The Directors to retire are Messrs F. B. B'arker, John dark, .aqd E. M. Hutchinson, who all' offer’ themselves for re-election. Any shareholder. - who desires to lie nominated as a director (other than the directors as above, -who retire by rota- • i or to nominate any other shareholder, must send in the nomination paper to the manager, at Gisborne on or before the 12tli day of November, 1909, otherwise such nomination cannot Be accepted at the - annual meeting. “The auditors Messrs T. A. Coleman and 0. S. Watkins, retire, and are eli-i gfbi’e for re-election: