The Gear Company's Annual Meeting.

Manawatu Herald, 7 January 1893, Page 2

The Gear Company's Annual Meeting.

■• . ~ — —"• ■"" ■ - „ The annual meeting of the Gear Meat Preserving and Freezing Company of New Zealand, Limited, waji held on Wednesday evening 'in th* Chamber ot Commerce? 1 Mr Jas; Gear, chairman of directors, presided and there was a fair attendance "6l shareholders. ; ■". • ■■ <■ , 'I he directors' report was !as follows: — The "result of the years 1 operations gives cause for congratulatibh considering the generally* 'unprofitable, nature of the- frozen meat market, in, London. , Th> balanpe available, after making dt>» a'loif-. aocQ for (iepreciatiop, etc., ir^t#W 6s, and the airectora recotnmehd that it be appropriated asjfdlbws'i xf In payment "of-adtvi^ha 1 on the 1 paid-up capital of the company, at the rate ot 10 per cetit, *•*; tnnum -

f '.' iiiif'-'ni --' i' i i' • - i'i'V t-iY*--'-"-'' ■•"«■' Ike half-tear, ended 81st May, has . already been paid) £4,600 j to be carried forward to next year's account, £3,358 6s ; total, £7,958 Ga. •• fund is again increased Tne reaecvo. 6 ' ..^ ve by £1,000, and the Insurance it= — now stands at £9,000; tho two together .amputit to the satisfactory Siirii of £21 $00;. Itl . accordance with" the articles di.assdciatioii, three Of your directors (Messrs Gear, Reid, and-Dr Newman) retire from office, put are, eligible arid offer themselves for re-election 1 . The auditors; Messrs D; T. Sfcewar'fc and" E: T. BBdhjini, also offer themselves for re election. The retiring directors were re elected as were the auditors. Mr Beid, in thanking the shareholders for the re-election of MiGear, Dr Newman, and himself, said there was one eloquent fact which Upoke Volumes for the company, nftmety» that during the ten years of the company's existence the shareholders had received dividends amounting to 102£ (one hundred two and a half) per cent on their capital I?hat, he thought, showed a good Record for the company, especially in the face of the keen opposition and the other difficulties incident to the. earlier years of a laige enterprise like theirs; $he company's future Was, in his opinion, perfectly safe - , safer than ever, for their past experience would teach what rocks had to be avoided, and enable them to steer in calm Waters: As to the present, they had started this year Velfy srtccesßtully indeed. —Presi.