POVERTY BAY A. AND P. ASSOCIATION.

Gisborne Times, Volume XXV, Issue 2052, 2 December 1907, Page 2

POVERTY BAY A. AND P. ASSOCIATION.

WINNERS OF CUPS. Air. 11. Al. Porter* secretary of the Poverty Bay A. and P. Association, has compiled n list of winners of Cups in connection with tho annual Show, as follows: — DRAUGHT.

A Challenge Cup, value £lO 10s, presented by Mr. F. 13. Barker, VicePresident. To bo won outright by the exhibitor winning the most points in the Draught Horse Classes in the years 1900, 1907, and 1908. In the event of a tie ,the greatest number of Firsts to win. Championship points do not count. 1900 1907.

H. 0. Tucker 16 14 J. Clark 12 C. Matthews .... ... 2 7 AY. J. Jones ... ... 5 2 SHORTHORNS.

A Challenge Cup, value i£lo 10s, presented by the President, to bo won outright by the Exhibitor winning the most points in years 1906, 1907, and 1908 in Classes Nos. 56 to 69 (inclusive). Championship points do not count. In the event of a tie, the greatest number of Firsts to win.

A Challenge Cup, value £lO 10s, presented by Mr. T. Holden, to bo won outright by tlio 'Exhibitor winning the most points in these Classes ii£ vears 1905, 1906, and 1907. In tho'ovent of a tie, the greatest number of Firsts to win. . 1905.1906.1907.Tt1. J. Clark, Winner 6 9 18 33 C. IT. Seymour ... 3 9 7 19 E. Murphy ... 15 9 - 17 Holden Bros. ... 9 C 4 19 Barker Bros. ... 3 4 1 ° IV. Witters ..-1 DAIRY CATTLE. A Challenge Cup, value £lO 10s, presented, to bo won outright by the Exhibitor winning the most points in years 1906, 1907, and 1908, male stock excopted. In the event of a tie, the greatest number of Firsts to win. a i one i ort7

Challenge Cup, value £lO 10s, presented by Messrs Levin and Co., as agents for Wolseley Shearing Machine Co., to be competed for in the Longwool Classes. To be won on points, twice in succession, or three times at .intervals.

Tlie New Zealand SheepbreedorsAssociation’s Champion Silver Shield, value £3 3s, for Champion Lincoln Ram, tho competition being limited to flocks registered in the N.Z. Sheep Breeders’ Association Flock Book (North Island). Won by Air. D. Kirkpatrick.

Ist Prize, Cup, value £3 3s, and £1 Is cash, presented by- Alessrs J. L. Perry’ anil A. R. AVatsou; 2nd l’rizo, £l. Cup to bo won twice before becomin gtho absolute property of the winner. 1907. A. R. AVatsou ... 3 Kenway Bros. ... 2

Messrs Quibbcll Bros (through their agents, Messrs Dalgoty and C 0.,) sterling silver Challenge Cup, value Twenty guineas, to bo won twice in succession, or three times at intervals, before becoming the absoluto property of the holder, by the Exhibitor scoring the most points in Classes 106 to 139 in this year’s schedule, and in all similar classes in future year’s schedules. 1907.

Challenge Clip, value £lO 10s, for all Fat Sheep In Classes 145 to 152 (except Class 147 and 150 a which do not compete) for competition between sheep-farms. All sheep to be fattened on the farm they are shown from. To be won three times before becoming the property of the winner. To .be nidged by points.

A Challenge Cup, value £lO 10s, for competition for Fat Lambs. . To l)e won outright by the Exhibitor winning the most- points in these Classes in years 1905, 1906, and 190*. In event of a tie, the most Firsts to win. Fat Lambs competing for the Cup must 1)0 bred by the Exhibitor.

£1385. In tlie following year itlio assets hud increased to £45,523, ami tin, nrolit and loss £17,953. In tlio second vear tlio assets were £57,01d, ami profit and loss £24,180; Hurd year, £57,972, and £28,417 (includiii«r reserve of £10,500); fourth year, £80,083, and £32,813; fifth year, £83,952, the profit and loss being £7803, reserve £9837, and bonus capital £10,482, totalling £34,382. “'I he results to my mind,” said the Chairman, “are very satisfactory indeed. fi'hey certainly stamp this cooperative effort as having been quite as successful as its promoters hoped .it would lie. Dividends and bonuses had. been paid amounting to £IO,OOB Us 2d, as follows: —1903, £1320 11s Id; 1904, £1795 9s sd; 1905, £lßll 18s Id; 1900, £2522 2s 3d; 1907, £2558 13s 4d; and to show that great care had been taken lie stated that in four years £8743 17s lid had been written oil' for depreciation, lie had made the statement ot figures to justify tlio directors in the step which they had taken during plus year in increasing the capital to £75,000, and dividing a substantial portion of the reserve fund amongst the shareholders. In addition'to that, as they were aware, ordinary shareholders had come in, and 5000 shares offered at par had been fully subscribed. These shareholders had been admitted on very favorable terms, because, although they would not ii irtici'iimte in the bonus stock •granti d this year, they participated in £II,OOO worth of profits, not a penny of which they had had a finger in earning. As a matter of noiiev lie had no hesitation in saying that thero should he no further issue of shares, except at a very substantial premium. Hie re was no occasion for it. If a farmer cam 6 into tlio district and bought a holding already improved, he got with it the right to participate in theso works, ff a smaller man took up land, he began in a very small way, and ihe quota was so small that f he " 1 sill'll to qualify he could do so at a small premium, and onco qualified it i> <u!d not matter whether his future holding was 1000 sheep or 10,000. A most important matter was the conference of freezing companies oi the Month Island, hold at Palmerston Month during show week. Jho conference could not attempt to do, anything for the common benefit of the companies oxceiit to make arrange meats for a business conference, to be held, it was hoped, in the month of June next. .Nearly all ./reeling companies in the North Island were in an agreement to combine tor the common advantage; it was obvious as to the different directions in which those advantages lie, but he need not go into that now. Ihe other matter of importance t'liat should, perhaps, bo mentioned was that this nast year there had been a record output of frozen meat from the district, it had also been a record for the development of then factory. In a few months -hey would have a factory capable ot handling 3000 sheep a day; and when they took over the works the utmost the> could do was 800 a day. The pontion it would bo in after tlio final installation of the new plant now under order would, he hoped, suffice for all the purposes of the factory for the next five years. Other matters that might bo mentioned' were the lighterage contract and the freight contract, only to pass them by with two remarks —that no advantage was being asked by rthe company itself. As regarded increased lighterage charges, there need be no cause for any increased charge to consumers or liroducers in this district; it was merely an adjustment between their company and tlie Union Company, rendered necessary on.account of tlie large amount of Sunday work that unfortunately had in recent years been forced on Gisborne, anti so far as it trenched on the amount paid for lighterage, it was a matter for adjustment between the two companies—not a penny of it should necessarily or rightly fall on the importer. Mr.' Lysnar: There has been no increase.

The Chairman said lie did not wish to go into details; he was merely affirming the principle. "With regard to the freight contract, the carrier and company had been contented to stand oil mutual relations. That was a matter of business; if the company saw an opportunity to do better, it had the right to take adyantage of that betterment. They would notice by the balance-sheet that £IOOO had been set apart for the beginning of an accident fund. They had thought, witli other companies, that the amount paid for premiums was too high, and had made a beginning with a fund, which they hoped-would grow, and after providing for all claims, leave a profit. They were also becoming their own marine insurers to the extent of the small boats in the Bay. They could only recover against total loss, which was almost inconceivable. One note that should, perhaps, he sounded there from the chair was tlia-t this year 't ■was very evident they were on the eve of falling markets. How long they were going to fall they did not know, hut. the greatest cure would bo required in the management of tho factory, particularly in regard to the payment for pelts and wool, so far as they bought wool, ami fat. The directors would ask for patience at the exorcise of a cautious policy. They did not know how far the markets would drop. Tho shifting about of gold and over-speculation in America, gave them to understand there would be great unsettlement in all commercial markets for some time. The Chairman concluded by expressing tlie company’s appreciation ot the services of the manager, the chief engineer, and tho staff in general, and moving,—“That the report and balance-sheet be adopted, and that a dividend of 6 per cent, per annum he paid upon all ‘ordinary shares,’ and that a bonus of 3d per sheep or two lambs be granted to fully qualified shareholders upon all produce supplied to the works for export during the year, tho property of such shareholders. One cattle beast other than calves to be paid for as equal to twelve sheep (one calf to four slieep). Dividend and bonus to be paid at the offices of the company on the 31st January, 1908.” Mr. AA’. D. Lysnar in seconding the motion, referred to the excessive freight charges, and said that although they could not hope for a reduction this year, something should he done in the way of bringing them in line with the charges existing in Australia, which were 50 per cent. less. The motion on being put to the meeting was carried unanimously. Mr. John Clark proposed, and Air. F. Hall seconded, that Messrs. AV. B. Barker, AV. Iv. Chambers, C. A. 1)„ Lautour, and AV. D. Lysnar, the retiring directors, be re-elected. —Carried unanimously. Alessrs. T. A. Coleman and O. S. AVaitkins were re-elected as auditors to the company at the same remuneration as hitherto. Air. John Clark stated that a great deal of the success of the company was to bo attributed to tho ciforts of their chairman. He would move that the usual remuneration ill,, granted. . •Air I l ' Hall seconded the motion, and said ho thought an increase should be made in the remuiicratwin. —This motion was carried, the man stating that lie did not i\ Jsli -oi auv increase. A vote of thanks to the manager, chief engineer, and staff for thou services during the year was placed on record, on the motion of 'Air. Uvsnar. seconded by Air. A . Barker. ‘At the conclusion of the general meeting the directors met for a lev moments, when Air. G. A. De Lautour was unanimously re-elcctcd Chairman for the ensuing year.

190G 1907 W. Witters 29 23 J. Glai'k 14 21 Holden Bros. S 8 C. Gray — 8 G. Witters 5 3 Kemvay Bros —. Field and JDeLautour FAT CATTLE. 2

G. It. Mooro ... ... 4 16 A. Lange ... 3 11 F. J. Pearson ... — 12 A. F. Matthews ... 7 4 H. Wilson ... 5 4 I). P. Cameron ... 3 5 .1. M. Arundel ... 4 3 N. 'A. Coster ... ... 5 1 It. Cameron ... 5 •— W. B. Bell ... 4 — It. Jones ... 3 — W. Peryer ... 3 — H. Currie 3 — A. Tuoh.v ... — 3 A. It. Iline ... — 3 D. Mor.ico ... ... — STUB SHEEP. 1

1906 1907. J. C. Field 37 17 JD. Kirkpatrick 26 27 IV. D. Lysnar 15 16 J. Briinton 14 14 J. Tomblesou 20 3 A. McKenzie's Estate — 18 E. Short ■— 13 J. L. Perry 3 ' 7 J. Caesar " 3 5 0. Monckton 7 — J. Clark 5 — C. Gray ... • 5 — F. Hutchinson and Sons — 5 W. W. Smith 4 — D. P. Cameron 4 2 —• Holden Bros. J. Poynter ... . ••• ~1

D. Kirkpatrick 27 W Jobson 26 A. McKenzie's Estate... IS J. C. Field 17 W IX Lysnar 16 J. Brunton 14 E. Short 13 C. Matthews 11 J. L. Perry 7 P. Hutchinson and Sons 5 J. Caesar 5 J. Tombloson 3 R. C. Miller 2 J'. Poynter 1 FAT SHEEP.

J D.' .1 1904.1905.1906.1907. *Barker Bros. . . 10 7 10 19 Holden Bros. . 4 5 8 14 E. Murpliy . 7 17 2 — 'll. J. Reynolds . . 2 9 5 — Hutchinson Bros. — ; — 6 3 J'. Eergusson . — — 6 — W. Allen . — — 5 — W. Graham . — 5 — *— J. Clark ‘Winner. • — 2 1

*AY. Jobson 1905.190G.1907.TG. ... 16 15 20 51 J. Hobson ... 10 13 — 23 H. Ford ... — 8 2 10 G. Dunn 1 1 AY. Bruce 1 1 *AA r inner.