ASHBURTON CHEESE & BUTTER FACTORY CO., LIMITED.

Ashburton Guardian, Volume V, Issue 1347, 9 December 1885, Page 2

ASHBURTON CHEESE & BUTTER FACTORY CO., LIMITED.

The annual general meeting of shareholders of the Ashbnrton Cheese and Butter E'actory Company, Limited, was held at the Arcade Chambers to-day. ( here was a good attendance, and Mr John Orr, the Chairman of the Board of Directors, presided;— The minutes of the last general meeting having been read and confirmed the Director’s Report and Balance Sheet was submitted as follows: Report

The statement# of account# made up to the 30th September 1885, and duly audited, is presented herewith, and which your Directors regret to say shows a small loss on the Cheese account —Daring the past season Bacon Curing ha# been added to the other business of the Company, and it is hoped that a fair profit will be shown on the account,, but as the stock of Hams and Bacon, was unsold when the books of the Company were made np'it waS'ndlC. thought advisable to estimate it'at'orer cost, so that the draft nndat this-head cannot appear in this lessons transactions. —lllthough, up to the present, .the operations of the Company have been an profitable, there seems now every, probability »f the Factory yet turning out a. success. With the increased Colonial demand for cheese, which means better prices, end the profit on pig-raising and bacon curing, your Directors hope to prove that tha Cheese Factory will yet be made to psy, and alas secure to the farmers a better price for their mils, which has this year been raised to 3|d per gallon. It ia hoped that this increase of a £d a gallon mil stimulate the milk supply and kaep the machinery and plant of the Company working np to its full capacity. If this ba done the . Directors have every confide ice that they will ba able to praeent a more favorable . report and balance sheet at the next an- • nnal meeting. Bixahob Bhskt foh the Yeas sjroraa Sbptembbe 30, 1885.

£ X d. To Capital paid np 3777 710 „ Debts due by Company, including Bills Payable and Bank overdraft ... 699 17 4 ~ Bank of New Sooth Wales loan 4000 0 0 £8477 8 2 By Freehold property, building, plant, costing ... 4006 11 6 ~ Debts due to the Company _ ••• ••• ••• 282 16 10 ~ Stock in hand, cheese ... 84 8 8 „ Balance bacon amount... 1949 18 9 ~ Petty cash in hand ... 3 7 1 „ Profit and loss, 1883 ... 1786 17 7 „ Profit and loss, 1884-6 ... 364 6 9^

£8,477 5 2 Pkovit and Loss Account, 1884-86, To Interest on Cheese Account 172 14 1 ~ Interest on Bacon Account 100 0 0 ~ Charges, including Insurance, law costs, valuation repairs, stamps, rates, printing, etc ... ... 136 9 2 i, Secretary's salary ... 27 10 0 £436 13 3 By Balance from MB4 ... 6 6 3 „ Cheese Account 67 1 3 ~ Balance to debit... ... - 364 6 9 £436 13 3 Capital Account. To Capital, 1000 Shares at L 5 6000 0 0 £SOOO 0~0 By Unallottsd Shares, 119 at L 5 959 0 0 ~ Forfeited Shares 102 0 0 „ Uncalled Capital 318 10 0 ~ Arrears of Calls, first issue 114 12 2 ~ Arrears of Calls, Second Issue ... 92 10 0 „ Capital Paid op 3777 710

£6090 0 0 On the motion of the Chairman, seconded by Mr Jameson, the report mod balance sheet were adopted. The Chairman referred at some length to the operations of the Company, and said the cost of management amounted to

about L 234, or equal to Id a pound on the cheese manufactured. Replying to Ur Laadley, the Chairman said the plant was as good as new. The retiring Directors, Messrs Dudley, W. Chapman, and H. Friedlandec ware re-elected. A motion moved by Mr Tocher, and seconded by Mr John Grlgg, to tbe-effeot that the Company should be wound- np, was, after discussion, withdrawn, and the following motion, propose' by Mr U. Friedlander, seconded by Mr Q. Jameson, carried, viz—“ That the Company go ia o voluntary liquidation on May 10 next.” Mr Secre an was re-elected auditor,and the usual compliments to tbe f irectoia e&m <do«s4 Um