INGLEWOOD BACON COMPANY.

Taranaki Daily News, Volume XLVII, Issue 81871, 22 October 1906, Page 2

INGLEWOOD BACON COMPANY.

The seventh annual meeting of

shareholders in Hie Inglewood Bacon Curing Company 011 Saturday was one ol the most harmonious and satisfactory in the history of the company., Mr Arthur Morton, chairman of directors, presided.

'I he annual report 'congratulated the shareholders on the hglily satisfactory nsulw of the year's operations. The number of pigs receiv- ' ed during the (year showed a smal decrease, but the number of share , holders had again increased. Th demand for bacon and hams conlin ued to improve, and the compan . had, during the past openei [up fresh markets. The prices re , t'civt'd had shown a marked advance . particularly towards the end of th yean and the directors confident! anticipated that the business of th [ coming year would be of a satsfac t-ory nature. In view of the fac . that rival concerns were endeavoui ing to secure pigs throughout th whole of the district from' which ill Inglewood company drew its sui: . plies, shareholders were asked lo re member that it had always been th endeavour of the directors to give th tanner the highest possible price fo , pigs, and that this course would con tinue to be adopted. The amoun written off for depreciation had beei doubled, but there still remained balance to credit of the profit am loss account of ,£Bi 0/7 on ihe year' working. Ihe directors recommend ed the payment of a five per cen dividend on the share capital, an< the balance be carried forward The trading account showed stoc in hand, September i, IQOS, ,£255 6/1; paid for pigs £ sSly 3 /y ; wagl u />752 71', material, £4o6' 15/10; meal ,6174 y/2; balance to profit and lo»s 1 430 11/4. Sales produced ,£759 12/4 (bacon and hams); lard, £36 11/3; curing, ,£163 7/8; meal, £l9 13/6; stock in hand, 10 7/10. The profit and loss account show cd a balance of £tif 07; the print! pal items being working expenses 2.-1)1 13/7; office expenses, £37 15/5 commission, £3411 S/io; exchang and discount, £iyi 7/7; railage am freight, .£l3B 8/9; insurance, 13/y; interest, ,£259 2/9; income-tax /J2S 4/; chairman's honorarium, .£1 10/; dircclois' fees, £jS; deprecia |tion, £ip i/t. I The liabilities are represented b I/1961 5/7, paid up .011 2642 alloitei shares (3358 unallotted), and JBanl of New South Wales, .£4lOl 9/5. As sets arc represented by land, plant machinery, etc., ,£3435 16/8; ac counts receivable, .£770 17/; stock ii hand, ,£2llO 7/10. . The report and balance-sheet wer unanimouslv adopted, rhareholdej being well pleased with the result c. the working, and that the £(®iD»n had been enabled, in addition to pr|. ing out good prices for pigs, to pa the only bacon company's cjividen in the province.

Messrs J. Morton, J. Hall, and II Houston were the retiring directors. The first two were reelected, Mr 11. 11. 11. Yates to fill the third vacantly.