COUNTY STOCK AND SALEYARDS CO.

Ashburton Guardian, Volume V, Issue 1397, 3 November 1886, Page 2

COUNTY STOCK AND SALEYARDS CO.

The annua! general meeting of shareholders in the Ashburton Stock and Saleya'ds Compmy was held at Vfr G. J meson’s office yesterday afternoon Present—Messrs G. Jameson, T, Bollock, 0, J. Harper, 0 W. Purnell D. Thomas, W. St G Oo •glas, F. B btuniisb, Mr G. Jameson, Chairman of Directors, presided REPORT AND BALANCE SHEET. The report and balance-sheet were read : The low prices that ruled tbroughont the year for all descriptions of Live Stock caused a much sma'ler number to change owners through the medium of the Company’s Yards, than baa been the case fir some years. Although the amount received f’r Yard Fees shows a fating off as compared with previous returns —for the reason above stated—the S-irectors are in a position to recommend the payment (out of the balance standing to the credit Profit and Loss Account £261 16* sd) Of a Dividend at the rate of 10 per cent., which will absorb £IBO ; of a transfer to'Reserve Fund (which will ilea ttmd at £450) of £SO ; and to carry forward the balance of £3l I6i 51 ; total, £261 16s 51. This resa't, which must, under the circumstances, be considered satisfactory, has only been arrived at by the exorcise of strict economy and watchfulness in the conduct of the affairs of the Company The Yards and Buildings have been kept, and are now in a throughly efficient state, and in perfect order and repair. The Directors who retire by rotation are Messrs O. T. Dudley and J. E Trevor, both of whom are eligible for re-electiou, and have given the necessary notice. BALANCE-SHEET FOR THE YEAR ENDING SEPTEMBER 30th, 1886. Capital Account.

Assets.

Liabilities.

Profit and Loss Account.

The report and balanre-sheet were adopted. DIVIDEND. Mr Purnell moved that the dividend recommended in the Direoto a' report be payable on *nd after November 16. Seconded by Mr Douglaa and carried. DIRECTORS. Dr Trevor and Mr Dudley were roleoted Directors REMUNERATION OF DIRECTORS It was resolved on th» motion of Mr Purnell, that the sum of £SO be voted as remuneration for the Directors during the forthcoming year, the amount to be divided pro rata, according to attendance. AUDITOR Mr J. G. Eestell was elected auditor to the Company for the ensuing year, COMPLIM ENTARY. Votes of thanks to the Directors, and to the Chairman, brought the proceedings to a close,

£ s D Capital subscribed—600 shares of £10 each 6000 0 0 £6000 0 0

£ s D Capital paid np . .. 1800 0 0 Capital uncalled . .. 4200 0 0 £6000 0 0

£ 8 D Property, costing • • i. 4070 ii 4 Furniture, &o. • • « • 42 16 7 Accounts owing 43 18 0 Ashburton Reserve: Cost of fencing, ct'O., less proportion debited to Profit and Loss 57 17 9 £4215 6 8

£ S D £ 8 D Capital paid up 1800 0 0 Reserve Fund 400 0 0 Loan .. .. 1650 0 0 Less redemption payments .. 182 9 2 1467 10 10 Accounts owing 62 10 0 Bank overdraft 233 9 6 Balanceat credit of profit and loss 261 16 5 £4215 6 8

£ « i> To General Expenses .. 345 6 3 ,, Maintenance of yards 19 15 2 ,, Interest 130 3 2 „ Proportion of outlay on Eeserve 19 5 11 ,, Directors’ Fees 50 0 0 ,, Balance 261 16 6 £826 6 11 £ n d £ « D By Balance brought forward .. 351 8 8 Less dividend paid £165 0 0 Less Bonus transferred to capital account £150 0 0 315 0 0 35 8 8 „ Yard fees 789 18 3 £826 6 11