INGLEWOOD BACON CO.

Taranaki Daily News, Volume LII, Issue 204, 2 October 1909, Page 6

INGLEWOOD BACON CO.

The annual report of the directors of «In* Inglewood Co-operative Raeon Company. to he presented to the annual meeting of shareholders in the Parish Hall. Inglewood. on !Hh October, is as follows: "YVr directors have again the pleasure of laying before shareholders the annual balance-sheet and statement of accounts of the company, and would congratulate you on fie satisfactory results of the year's working as therein disclosed. Owing to the depression in trade which has existed throughout tl)e Dominion during the year, and which has caused competition for business to be much keener as wel' as limiting the demand for the manufactured article, the company has had to hold much heavier stocks of bacon than usual. Tilery are, however, indications of a revival in trade in the near future. The greater part of the stock in hand shown in the balance-sheet has already been hooked for delivery at satisfactory prices, and there is every prospect of the remainder being sold before the coming season's supply is on the market. Your directors, in valuing the stocks, have made ample provision to ensure ft satisfactory result. Advantage has also been taken of a good season to still further increase the r&ts of depreciation on the company's property. In <ir<ler to make the fullest use of the additions made last year to the building 9 and plant, which have proved to be highly satisfactory, it is essential that moi> capita! should be supplied by the shareholders. To provide for this, shareholder? will be asked to pass a special resolution making a new article defining ! the basis of allotment of 6hares. If this is adopted the position of the company .will be greatly improved, and its successful working still further ensured. You will be required to elect two directors in place of Messrs. Hall and Todd, both of whom are eligible for re-elec-tion; also nn auditor. Mr. Hopson agam oilers his services. Arthur Morton, Chairman." Thp Irading account is as follows: To stock in hand, September Ist, 1908. £1234 Gs 2d; pigs, iOOOO 10s; wage?, £IOOS Gs (id; material, <i'G4B Bfi 4d; meal, £244 3s Gd. By bacon, ham, etc.. £9OOI 13s 3dj lard, £729 8s 3d; curing, C 337 Is lid: meal, £258 7s Id;, stock in hand, of bacon, material, and meal, £3842 13s lOd; total, £14,859 4s Gd, showing a credit balance of £1940,