NELSON WORKING MAN'S SHEEP ASSOCIATION. [From the "Examiner," July 10.]

New Zealander, Volume 8, Issue 671, 18 September 1852, Page 3

NELSON WORKING MAN'S SHEEP ASSOCIATION. [From the " Examiner," July 10.]

The first Annual Meeting of the Shareholders in the above Association was held in Bridge Street Schoolroom on Wednesday evening, the 30th instant, and was well attended. Mr. J. P. Robinson having been called to the Chair, the Secretary, Mr. J. M. Hill, read the following Report and the Financial Accounts for the past year.

Report. Your Director 1 !, in submitting to the Shareholders a statement of businpss transacted during the pnst year, cannot but congratulate them upon the satisfactory position which the Association lias obtained. The number of shares actually taken since the formation of the Association was 330. Upon forty-nine of these no payment was made beyond the entrance fee?, and as the parties n-Jjo had taken them declined to continue their subscriptions, these shares have been declared to be forfeited for (he benefit of the Association. Upon thirty -three more of these share* some tufting payment had been made, hut for the same reason they have also heen declared to be forfeited for the benefit of the Association. The number of shares now held, and upon which payments are regularly made, is 248, and the shnrehol deis comprise every class of persons in the settlement. Your Directors entered into contracts with Mr. Charles Christie, for the purchase of his runs and a considerable number of sheep. The contracts weie in every respect advantageous to the Association, as Mr. Christip consented to accept the pnrchuse money in proportion a-* the "subscriptions upon the shnres weie paid up. Thpse contracts have not yet been fully c.trlii'd cut, owing to the absence of Mr. Christie from the colony, but your Directors expect tlißt upon his return they will be satisfactory concluded. Your Directors have in the mean lime be^n put into possession of the runs, and of 583 sheep of the following description, namely 510 ewes, \1 rams, °l\ wethers, 20 weaned lambs, 8 unwearied I imbs, nnd 4 wether Limbs. Your Dnectors rei>iet to ie ort that the scab h.19 broK-pn out in the flock, but are assured by the shepherd of the Association that the extent of die disease is very tiiflm<r, and that he hopes shoitly to eradicate it. Your Directors are also informed that the ewes aie now lambing, and that there is every prospect of a good /.ill. The balance sheet to the 30th of June, duly approved and signed by your Auditors, will he read this evening and afterwards lie at the Office of the Association for the inspection of the shareholders. By that balnnce sheet it appears that the amount actually received by the Association is £b"So Ins., of which tliev have expended £500 Hss. A balance of £52 19s. lemainp, together with a balance of £\36 18s. Gd. due upon subscriptions to shnres, and giving a total balance in favou? of the Association, of £18!) 17s. 6d. Your Directors further state, that half the Directors go out of office, but are eligible for re-election. The following gentlemen were then elected by ballot as Directors, in the room of the eight retiring Directors ; Dr. Wilson, Capt. Frazer, Messrs. T. ]>-oy, D. Burns, W. T. L. Travels, J. L. Bailey, J. Watts, and R. P. Outridge. A vote of thanks was then given to the Chairman, and the meeting separated.