TARANAKI MEAT COMPANY.

Taranaki Daily News, 4 August 1919, Page 3

TARANAKI MEAT COMPANY.

ANNUAL REPORT. . Following is the annual report of the Taranaki Farmers" (Meat Co., to be presented at a meeting of shareholders* on August 9>—

Your directors have pleasure in submitting a statement of accounts and balance-sheet for the year ended June 30, 1919. The quantity of stock treated shows an increase on last year's figures in each class, except lambs, which, owing to the unfavorable season, have decreased. The figures for each year are as follows:

Year ended June 30, 1919, 78,543 sheep, 12,258 lambs, 8900 cattle, 230 calves. Year ended June 30, 191S, 57,079 sheep, 17,505 lambs, 05(31 cattle. Increase: Sheep, 21,484; cattle, 2345; calves, 230. Decrease: Lambs, 5307.

After providing for depreciation to the extent of £4050 and income tax reserve of £2855, there remains a profit of £3628 16s 3d, which, with the balance brought forward from last year, your directors propose to allocate as follows: In payment of a dividend on paid-up capital, at the rate of 0 per cent., £3850 13s fid; balance to carry forward, £BO7 (Is lOd. During the year cold storage accommodation was still further enlarged by the completion of the new meat, butter, and cheese block, and, notwithstanding the shortage of shipping, the storage proved ample for all requirements. In addition to the storage of moat, 20,230 crates of chee=o, and 19,472 boxes of butter were received for storage. Tour directors have decided to increase the capacity of the works generally, especially in the slaughtering and byproducts departments, including a complete fertiliser-mixing plant, and it is anticipated that the additions will be ready for next season. The directors retiring by rotation are Messrs Best, King, Perry, and Young, all of whom are eligible for re-election. Recognising the fact that the district north of Waitara is not represeated on the board, Mr. Gamlin has resigned his office as director in order to allow a nominee from that district to be elected to fill the vacancy. Your directors desire to place on jecord their appreciation of Mr. Gamlin's services as a director of the company.