The Gisborne Sheepfarmers’ Frozen Meat Company.

Gisborne Times, Volume XXIII, Issue 1875, 3 October 1906, Page 3

The Gisborne Sheepfarmers’ Frozen Meat Company.

The following report ha? been prepared for presentation to shareholders of lha above company next mouth :—Shareholders aro to bo congratulated upon another successful year. The stock trca'ed at fcho factory for the year is in the aggrei gate more than for the previous year. Sheep 127,559, lambs 41,123, cattlo 1884, and calves 290. Tbs profits for the year are .£9119 Os lid. Too lightering and shipping plant b»3 bom farther added to by the purchase of the se. Kotars. The oompaDy has also acquired the business of Messrs Kennedy anti Evans as a going concern fr m 1-t April, 1900. The pur--cha9e has proved satisfactory to the directors, notwithstanding tho results of the business aro only for the winter period. Concessions bavo been allowi d to Bhare holders and clients on iho quantity cf stock frozen through tho fsetury during the year to tho extent of £ll4O 8i 61, A sum of £18,313 6i lid has to bo dealt with. It is r commended that this amount bn npporiioned to tho extent cf £10,483 3r 7J es follows : Reserve fund, £SOCO ; leasehold sinkmg fund, £500; depreciation mack nery plaot, lightering plant, eartiDg plaDt, and s.p. Rotate, £2098 3t ; office furniture, £224 8a fid ; proportion of goodwill and preliminary expenses in eooneetion with the puroha’o of Messrs Kennedy and Evanß’ business, £l3O 16j 3d ; bonus, £1614 19s; dividend at 5 per oen‘., £914 16j 111 ; total, £10483 3s 7d, aud the balance of £7830 3s 4d to be carried foiwatd, It will bo Been that tho whole cf the plant, inclusive of the ligbioring and shipping, has been written down 5 per cent, The i directors to retire are Messrs Frank F. B-nkor, Jjbn Cla-k, and Edward M. Hutchioeon, who all offer themselves for re-e'ect on. Any shareholder other than tho dirtcicrs as above who retire by rotation, who des-ires to bo nominated a 3 a dirro'.or, or to nominate any other shareho’dor, must srnd in any nomination pspors to tha Manager, at Gisborne, on or bcfoco tho 9;h day of November, 1906, otherwise such nomination cannot he accepted at ths annual meeting. Tho r.uditors, Mossis Aodrow Graham and H. M. Porter, retire, and are eligiblo for reelection.