HAREWOOD ROAD STEAM THRESHING COMPANY.

Globe, Volume XXIV, Issue 2551, 12 June 1882, Page 3

HAREWOOD ROAD STEAM THRESHING COMPANY.

The annual meeting of shareholders was held on Saturday afternoon in the White Hart Hotel, Mr James Donald, the manager, in the chair. Fourteen gentlemen were pre sent. The Manager reported for the season of 1882, that the net earnings of the machine for the year were £476 17s against an expenditure of £459 7e, leaving a credit balance of £l7 10s, On 2nd Juno, 1881, the bank balance was £IOB 170 lid. Payment of allj liabilities, dividend of 5 per cent,, insurance, &J., left an overdraft of £9 at the time of Mr Donald taking office. About £BS were spent in repairing the machine before threshing season, mainly in new concave, boaters for drum and humbor, driving belt, &3. The engine and combine were now in position to see another season out with a small outlay for brasses and belting. Tho tough nature of the grain,this season necessitated a large per contage of coal ; 38 tons had been consumed. The number of bushels threshed this season was 29,534 with 66i hours by time, making a total of 34,000. On 20th May the meeting had an approximate statement of receipts aud expenditure. With tho small probable balance available, it was considered inadvisable to declare a dividend for the year, but to carry the balance to next year’s account. The balance available would bs equal to 24 per cent, per chare, leaving a credit balance of £1 18s 3J in tho bank. With trifling exceptions, all the money had been collected ; all tho liabilities had been mot to date. The accounts were duly audited. Mr Paterson thought tho various:items on tho bills might have been separately specified.

On Mr Jasson’s motion, seconded by Mr Olaridge, tho report was adopted ; but subsequently, on Mr Jesson’s motion, seconded by Mr Nunweek, a dividend of 24 per cent, was declared.

Mr Paterson moved, and Mr Withal seconded, a motion that stops be immediately taken to wind up the company. An amendment was proposed by Mr Olaridge, seconded by Mr Haskett, that the machine be given another trial next season, and that the affairs of tho company be not wound up. The amendment was carried by eleven votes to five.

Messrs Donald (chairman), Olaridge, and Jesson were elected directors, in tho room of Messrs Kruse, Olaridge, and Donald, retiring. On Mr Paterson’s motion, seconded by Mr Withal, it was decided to convene a shareholders’ meeting in July, to consider tho advissblenees or otherwise of winding up the company. Towards the conclusion of the meeting, it was stated that a fourth director (Mr Paterson) was also among those retiring. Mr Paterson was then proposed and seconded for ra-eiection in due form,