CANTERBURY FROZEN MEAT COMPANY.

Press, Volume XLIX, Issue 14842, 6 December 1913, Page 16

CANTERBURY FROZEN MEAT COMPANY.

.ANNUAL REPORT/ The report of the directors of the Canterbury Frozen Meat and Dairy Produce Export Company, Ltd., for the year ended November 30th, 1913, is as follows: — The net profit: for the year is £44,838 14s «d, which, with the amount ,brought-forward from last year, makes the amount at credit of profit and loss account £46,765 16s 3d. Out of this, £5000 has been added to general reserve fund, increasing it to £50,000; £10,000 has also been, added to the insurance reserve fund, bringing the same up to £20,000, and the sum of £10,000 has been written off the works. An amount of £6500 has been placed to a reserve to provide for renewals and replacements in progress and works authorised. After apportioning these amounts, and deducting the dividend paid at the half year, there remains a sura of £8666 14s 3d, which the directors propose should be dealt -with as follows : — £ s. d. To payment of a further dividend of 3 per cent. on the preference, and 4 per cent, on the ordinary • . shares, making a total dividend for jthe year of 6 per cent, and 8 per cent. respectively ... 6,51)9 2 0 To carry forward ... 2,067 12 3 '■» . £8,666 14 3 The quantities of stock dealt with at the. company's works were: — At Belfast ~.. ... 456.660 At Fairfield ... ... 343.093 . At Pareora ... ... 307,851 , Total 1,112,604 Tho directors to retire by rotation are Messrs Geo. Humphreys and Jas. Gough, and they, being eligible, offer themselves" for re-election. Mr TV. H. E. Wanklyn, the auditor, also offers himself for re-election.