GEAR MEAT COMPANY.

Gisborne Times, Volume XXVI, Issue 2369, 9 December 1908, Page 3

GEAR MEAT COMPANY.

A SATISFACTORY REPORT. [Press Association.! - WELLINGTON, Dec. 8. The annual report of the Gear Meat Co. states that, including the amount brought forward and .after making allowance for depreciation and payment of .an interim dividend, there remains a balance of £14,234 12a, which the directors recommend for appropriation as follows: in payment of a dividend of 10 per cent, for the year ended 30th ult., less interim dividend of 5 per cent, paid in June, £4000; to be carried forward to next year’s account £9034 I2s. Owing to the continued success which has attended the operations of tho company’s insurance department the directors .recommend tho payment of a bonus of 2$ per cent, on the paid-up capital out of the insurance reserve. As the present manager of the London office is retiring, the Board has arranged with the managing director to visit Great Britain during the coming year with the view of settling the matter and generally studying the markets in which the company is interested. The gross proceeds of the year’s working'amounted to £30,963 5s sd, to which had to be added the balance from 1907 of £9654 14s 3d. During the year an interim dividend of 5 per cent, was declared, absorbing £4600, and £SOOO was added to the reserve.