CHRITCHCRCH MEAT COMPANY.
ANNUAL REPORT.
The directors of the Christeuurch Meat Company. Limited, in their annual report, state that they have to congratulate the snarehoUkrs on the improved position of the company. The results for the year just closed prove that the company has the support of farmers in the Canterbury, Marlborough, and Nelson districts. The
quantity of stock put through the vaxioui works—lslington, Sniithfield. and Picton —for the year has. been 1,305.132 head— the largest tigures ever reached. The financial arrangements made hist year of placing the finance of the company on a permanent basis have proved eminently satisfactory and profitable. The establishment of the London office has resulted in a. large increase of farmers* consignments which have been handled under the personal supervision of the company's staff, resulting in eatisfactorv returns to clients. The London office has also sold the company's wool and tallow consignments and sent large orders for meat on the c.i.f. basis. The stock and consignments have betu redneed to .> very lowmargin. Ample provision has been made for the future, and £7394 0s 9d has been written otf for renewals and replacement*, lhe directors Lave transferred £3939 5» formerly to the credit of premiums on shares account. together with £3000. to a reserve fund account, thus establishing a reserve of £6939 ss. After making the foregoing provisions the balance to the credit of tha profit and loss account is £10.329 13s 4d. The directors recommend that a dividend of 7 per cent, for the year should be paid, leaving £1972 6s 4d to be carried forward. The retiring director (Mr George Bowron) and retiring auditor (Mr W. H. Gundry) offer themselves again.
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Press, Volume LX, Issue 11493, 28 January 1903, Page 5
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277CHRITCHCRCH MEAT COMPANY. Press, Volume LX, Issue 11493, 28 January 1903, Page 5
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