TARANAKI FARMERS' MEAT CO., LID.

Taranaki Daily News, 3 August 1918, Page 2

TARANAKI FARMERS' MEAT CO., LID.

' : ANNUAL REPORT, J The»following; is? theanrmal report of itfie- TaranatL' Farmers? Meat C 0.,, Ltd., to be> presented! to t£e- annual meetling:— The- quantity- off stock treated- shows a, considerable increase: on last years' 'figures,, Hie quantities' for? (iaola jear being- as follows: Sheep..Lambs-. Cattle ■Year ended- June ' 30th, 1018; 57,073' 17,565 6,581 ■year- ended' June 30th, 1317. yj. 22,445 12,505 6,266'

Increase .... 34,634 5,000 295 1 The result of the year's operations has been satisfactory and has enabled your Directors to write off the loss shown on last year's accounts of £B4o' 9s Cd and preliminary expenses amounting to £526 9s 9d as well as providing £2OOO os. Od. for depreciation and £BOO os. Od. as reserve for Income Tax. The balance remaining for appropriation is £3,220 Is. fid. which your Directors recommend should be apportioned as follows:

£ 8 (L In payment of dividend oil' paid' up- capital' at the rate of 5 per cent per annum ..... - 2.090 9 0 Balance ta carry- forward 1,120 12 6 '£3,220 1 (J

Duriiig the yew a considerable addition to the cold storage accommodation was completed and proved invaluable in enabling the works to be kept going. A further substantial block is now under construction, the cost of whi<#i' will be covered by a loan granted to the Company by the Government. Your Directors have also entered into an .agreement with the Directors of the Taranaki Producers' Freezing Works •Company,, Ltd., whereby in consideration of the latter company taking up 5,000 shares, yotir Directors have undertaken to provide storage accommodation for 100,000 boxes of butter or part; of the equivalentin cheese during the coming season. This new block also now in course of erection.

The Directors retiring by rotation are Messrs Budge, Fleming; Gamlin,' and McCtitchan, all of: whom |irq eligible for re-election. . ,!•••: !