CANTERBURY SALEYARDS COMPANY.

Globe, Volume IX, Issue 1231, 13 February 1878, Page 3

CANTERBURY SALEYARDS COMPANY.

The fourth annual general meeting of the shareholders in this company was held at Mr R. Wilkin's rooms last evening. In the absence of Sir Cracroft Wilson, the chairman of director?, Mr George Hart was requested to occupy tho chuir. Tho Secretary (Mr Makeig) read the advertisement convening the meeting, and also the minutes of the former general meeting, which were confirmed. The Secretary then read the annual report of the directors, as follows : The close of the year 1877 shows the company has been advancing steadily. Tho number of sheep which passed through the yards during the lust six months of 1877 is l '..'5 456, of cattle frBB2, and of pigs 1321, showi nag an increase owr the corresponding half-year ! of 1876 of 33 990 sheep, 2464 cattle, and >321 \ pigs, or 280,184 sheep, 16,509 cattle, and 3734 pigs for the year. Yonr directors are pleased in being able to lay before the shareholders such a satisfactory statement of the finances of the company. By the accounts, duly audited, laid upon the table, it will be seen that the balance sta- ding to the credit of profit and loss ia ; 321 4s Id, out of which they recommend a dividend of 10 per cent, upon the paid-up capital of the company being declared, and that ,£539 3s 5d already paid for improvements, &o, be transferred from profit and loss to capital account. The three directors who retire bv rotation are Messrs Samnel Garforth, George Tickoer, and John Ferguson, who are eligible "for re-election. J. i'BACEOPT Wilson, Chairman. The balance sheet, which was submitted duly audited, showed a credit "balance on profit and loss account on December 31st to be £1321 4s Id, the profit on the last half year being £554 18s. The secretary said' that he wished to mention that the sums debited to certain parties as yard fees owing had been paid, which made sufficient to pay the dividend, as recommended. Mr Hiorns moved the adoption of the report and balance sheet as read. Mr S. Manning seconded the motion, which was carried. Tho next business was the election of directors, in room of Messrs Ticknor, S. Oarforth, and J. Ferguson, who retired by rotation. Mr Ticknor declined to stand as a director, in consequence of his leaving the province. Messrs J. Ferguson and S. Garforth were re-elected as directors, and Mr S. Manning was electod to fill the vaoancy caused by Mr Tieknor's retirement. Mr S. Garforth said, before the meeting closed, he should like to propose a cordial vote of thanks to Mr Ticknor for his past services as a director, which the shareholders could not but acknowledge. Under these circumstances he begged to move —" That, a cordial vote of thanks be accorded to Mr Ticknor for his services as a director." Mr J. T. Ford seconded the motion, which was agreed to unanimously. On the motion of Mr Henderson, a vote of thanks was accorded to the chairman, whioh concluded the business of the meeting.

An extraordinary general meeting of the shareholders was then held, to consider a resolution to increase the nominal capital of the company by £IOOO. Mr George Hart took the chair, and remarked upon the prosperous condition of the company, which was due to the careful management of the directors. The Secretary read the advertisement convening the meeting. Mr J. T. Matson moved—" That the nominal capital of the Canterbury Saleyarda Comp my, Limited, be increased by the sale of two hundred additional shares at £5 each, and that the said two hundred shares be offered to the existing shareholders at par in proportion to the number of shares heJd by them respectively in accordance with the Oth section of the articles of association. That the £IOOO raised by the sale of the two hundred additional shares be expended in the purchase of the two acres (more or less) adjoining the company's property at Addington, with the dwelling-house and appurtenances thereto belonging, from Mr George Ticknor, together with the free and permanent use of a reserved road of thirty feet, bounded bv the newly-purchased land, the railway, Mr Washbourn farm, and the west town belt." He had mucli pleasure in moving this resolution, which required very little remark from him, but he would just say this, that if they did not take the opportunity offered to them of extending their property—a step which was rendered necessary by the increase of population —while thoy had the chance, it was their own fault. He had much pleasure in moving the resolution he had read. Mr J. T. Ford seconded the motion, remarking that in asking tne price he had Mr Ticknor had considered the interests of the company. Had he offered it outside he could have got a higher price for the property. The motion was then put and agreed to. Mr Wynn Williams moved—" That the new shares, remaining after the pro rata distribution amongst the shareholders, be offered to those shareholders who hold less than-six shares, and that the remainder be ballotted for amongst all the shareholders, and that the directors be instructed to arrange for the ballot at the expiration of the thirty days allowed for shareholders of more than six shares to elect to take such new shares."

Mr Hiorns seconded the motion', which was agreed to. This concluded the business of the meeting.