SOUTH CANTERBURY REFRIGERATING COMPANY.

Ashburton Guardian, Volume V, Issue 1419, 29 November 1886, Page 2

SOUTH CANTERBURY REFRIGERATING COMPANY.

The onuual general meeting of the shareholding rf rhe South C'uterbury Kefrlgerating Company was held on Saturday. The report c ngratulated the shareholders upon the unqualified success that had attenoed th-ir first yea' - of so ive'operations. The net profit, after providing £lOll 15a 4d for the last ytar’s dtficienci £54 16s 8d for the si c >nd year’s consribution towards the extinguishment of preliminary txpenses, and £9OO 8s for depreciation of machinery, buildings, and etc , amounted to £570 8i Id, which it was re commended should bo carried forward to next year. The Directors considered it more prudent to adopt this o urao rather than declare a dividend which would interfere with the pretent working capital. The nutpber of carcases fr am at the works and shipped during the year was sheep, 54,753 ; lambs, 6579 ; tot.d 61,331. The question of the rale of freight occupied much of the attention of Directors, t he directors bad engaged space at l|d for 3 I,EDO carcasses, and 11,000 carcases by the Oprwa at lil per lb, making their total arrangemenls for the summer months 35,400. The Directors had hoped to report that the whole arrangements mads for shipping would include loading moat at Timaru, but regretted that the uufor lunate loss of the Lyttelton pievented the completion of this arrangement. The Opstya was the only ship engaged to load at Timaru in January next The remainder will ri quire to bo loaded at Lyttelton. The rep >rt and balance sheet were adopted; l