NEW ZEALAND REFRIGERATING CO.
The New Zealand Refrigerating. Company's annual report, signed by Mr. H. A. Knight,- chairman of directors, states that "the .fall in values in the. world's markets during the jpasb year has been more disastrous than for any of the previous four, years, and. that it is gratifying under such conditions to be able to produce a balance on the credit side of the profit and Joss account, even though not sufficient to justify payment of a dividend." .: Consignments afloat and stocks in the works have been valued on d, conservative basis, and-provisions for contingencies have been .fully maintained. After making provision for writing clown certain assets, states the report, there is a balance available for. appropraltion of £15,038 16s Id; which the directors recommend should be carried forward.
On December 15, last the shareholders confirmed an alteration on article 80, increasing the number of directors to seven and making provision for, the retirement o£ two directors annually. Two new directors; Mr. W. H. E. Flint and Mr. C. P. Agar, were appointed to fill the vacancies so created, and Mr. J. R. Cunningham was appointed to the vacancy caused by Mr. B. E. H. Tripp's retirement.' At the forthcoming annual meeting there' will be four vacancies to be filled—two due to the retirement of Mr. H. A. Knight and Mr. G. E. Mannering by rotation, and two caused by the retirement o£ Mr. J. Montgomery and Sir Francis Boys. Mr. H. A. Knight and Mr. G. E. Mannering, being eligible, offer themselves for re-elec-tiori. Nominations close at 5 p.m. on February 20. The auditor. Mr. J. W. K. Lawrence, also retires and offers himself for re-election.
Sir Francis Boys, managing director, has resigned his duties after 25 years' service, and the board places on record its appreciation of the services rendered by him to the company, particularly during the past twelve years. The annual meeting will be held in Christchurch on February 28. .
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Bibliographic details
Evening Post, Volume CXV, Issue 36, 13 February 1933, Page 10
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327NEW ZEALAND REFRIGERATING CO. Evening Post, Volume CXV, Issue 36, 13 February 1933, Page 10
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