COUNTY STOCK & SALEYARDS COMPANY.

Ashburton Guardian, Volume IV, Issue 1079, 20 October 1883, Page 2

COUNTY STOCK & SALEYARDS COMPANY.

,The annual general meeting of the shareholders in the above Company was held in the Arcade Chambers this afternoon. Mr G. Jameson occupied the chair, and about a dozen shareholders were present. The minutes of the previous meeting were read and confirmed. REPORT AND BALANCE-SHEET. The Secretary (Mr G. Jameson), read the following report : The Directors of the Ashburton County Stock and Saleyards Company, in reporting to shareholders the result of the Company’s operations during the first year of its existence, have pleasure m being able to state that the returns from all sources of income have far exceeded the estimates first made, and that the increased accommodation given by building the new yards at Tinwald and the additions made to the yards at Ashburton have proved a great boon to dealers in stock. Ihe balance-sheet shows that the sum of L3,6i8 8s 4d has been spent on the purchase of land and the erection of yards, etc. The Ashburton yards were formally taken over on the Ist Oct., 1882, and the Tinwald yards on the 22nd Jan., 1883. At Ashburton a shed has been erected and made convenient for the use of farmers wishing to shear their flocks of sheep ; the shed is also used 'S a shelter for horses on sale days, and for other purposes. At Tinwald a building of similar dimensions is now in course of erection. Sheep dips have also been provided on each site, and have been found to meet the wants of numbers of flockowners. The aim of the Directors has been to make the yards thoroughly complete and efficient, and no expense or trouble has been spared in working out this policy ; at the same time the strictest economy has been observed in all the Company’s undertakings. The fact of 335,000 sheep, besides other stock, having already passed through the Company’s hands is sufficient evidence that the accommodation provided has been appreciated. After writing off the whole cost of the inauguration of the Company and making ample provision for depreciation, in the form of a sinking fund, there is a sum of LIBB 16s 5d to the credit of profit and loss account, which the Directors recommend be appropriated as follows : Ll2O to the payment of a dividend at the rate often per cent., and L6B 15s $d to be carried forward to profit and loss new account. It will be necessary at this meeting to elect two Directors in the place of Messrs J. E. Trevor and H. T. Winter, who retire in accordance with the articles of association, but who are' eligible for re election. It will also be necessary to elect an auditor or auditors. On the motion of Mr Jameson, seconded by Mr H. T. Winter, the report as read was adopted. DIVIDEND. Mr Purnell moved that the Directors be authorised to pay a dividend of 10 per cent to the shareholders, as suggested in the report. Mr D. Maclean seconded this, and it was carried. DIRECTORS. Only two nominations had been received for the vacancies on the directorate, viz, Dr Trevor and Mr C. T. Dudley,_ and these two gentlemen were accordingly elected. REMUNERATION. Mr H. T. Win er moved that the sum of LSO be distributed among the Directors pro rata, according to attendance. Mr D. Maclean seconded and it was carried unanimously. AUDITOR. On the motion of Mr 0. P. Cox, seconded by Mr Braddell, it was resolved—- “ That Mr W. H. Gundry be appointed auditor, his fee to be fixed at L 3 35.” THE SECRETARY. Mr Parnell said that the Chairman had been doing the Secretary’s duties for soms time past, and this had worked satisfactorily. He would move that the same arrangement bo continued, but that the special sum of L 25 be voted to the Chairman, ? on condition he provides clerical work usually carried out’by the Secretary. Dr Trevor seconded this, and paid a high compliment to Mr Jameson for the way the Secretary’s work had been carried our. CARETAKERS. The Chairman moved, and Mr Carter seconded—“ That a vote of thanks be accorded to the caretakers for the way ihey had done their duty during the pastyear. ” —Carried. COMPLIMENTARY. On the motion of Mr Braddell, seconded by Mr Maclean, a cordial vote of thanks was passed to the Directors, and Mr Cox acknowledged the compliment. The meeting then adjourned.