HINDS SALEYARDS CO., LD.

Temuka Leader, Issue 2703, 25 August 1894, Page 4

HINDS SALEYARDS CO., LD.

The third ordinary general meeting of the shareholders of this company was held in the Hinds Schoolroom on Monday evening, Mr William Chisnall (Chairman of Directors), presiding. The schoolroom was fairly well filled with shareholders, and much interest was evinced in the proceedings. The chairman stated the purposes for which the meeting was held, and requested the secretary to read the

DIEBOTOBS’ ‘BBPOBI to be presented to the third ordinary general meeting of shareholders. “ Since the last ordinary general meeting of the shareholders, Messrs McLean and Matson resigned their seats as directors, and Messrs Horsey and Studholme, junr., were elected to the vacant seats. Two extraordinary meetings of shareholders were held, at which authority was given to the directors to raise £250 on mortgage of the company’s buddings and land. Articles of association containing this authority have now been registered, but the directors desire to avoid mortgaging the company’s property. The sum of £6O has been paid to Mr James McKeage, and a promissory note given to him for £sl as payment for the ten acres of laud bought from him, and the directors intend to have the transaction completed immediately. During the year thirteen sales have been held, and the directors can safely say that the- prices realised for stock will very favorably compare with the prices at any other saleyards, but while this is so, they regret to have to add that persistent efforts have been made to , spoil the '. sale. Stock has been entered and advertised for the sale, and yet the owners have been compelled to take their stock elsewhere. Representations have been made on this endeavour to spoil the sale, and the directors are glad to be able to inform the shareholders that two fresh auctioneers have now commenced business at the yards, and that at least another fresh auctioneer intends also to commence business here at an early date. The directors also know of three large stations that intend to support the yards, so that no doubt can possibly exist that those who desire to support the yards and the district can for the future depend on a large and important sale at Hinds each month. The directors think it desirable that the profits, at p esent, should go towards paying off the overdraft at the bank. But little doubt can exist that during the current year the receipts from the sales will largely exceed that of last year, and that they will be in a position to recommend the payment of a dividend at the end of the current year.

“During the year close on 70,000 sheep have passed through the company’s yards, and the operations of the shearing shed, of the sheep dip, and of the saleyards have each been successful, aud have resulted in good profit, which, with the much better prospects now opened for the company, will doubtless be much increased during the year now entered on, —Signed, on behalf of the direct ors, “ Wm. CetisNALL, Chairman. “John McKbaohe, Secretary.” The chairman, in moving the adoption of the report and balance-sheet, said he was much pleased to be in a position to congratulate the shareholders on the continued success of the yards during the past year, notwithstanding that, as regards the sales, they had had id contend with much quiet opposition. The directors had taken steps to counteract this opposition, and had been thoroughly successful. Great as had been the success of the sale held that day, he confidently predicted that the sales in future would be eveu more successful. That day they had had a large entry of stock, aud had been favoured with a large number of buyers, some of whom had not boon able to get what sheep they wanted. They had dealt with close on 70,00 sheep during the year, and the company had not been in Operation for two years, yet after paying all expenses. they had made a clear profit since starting of about £7O. This he thought vras very satisfactory. The shearing shed, the saleyards, and the sheep dip were great conveniences tP the farmers of the district, who were able to shear and to dip their sheep close at hand; and when they had stock of any description to dispose of they could depend on getting, at the very least, as good a price at Hinds as at any other saleyards. He had much pleasure iu moving the adoption of the report and balance-sheet.

Mr Brooke seconded the motion, and, as a shareholder, expressed his satisfaction at the continued prosperity of the company. The motion was carried unanimously.

Mr Sawle moved a resolution that the best thanks of the shareholders bo tendered to the directors for their services during the past year. He remarked on the advantages of having saleyards close at hand. Every sheep-farmer knew that driving long distances detracted much from the selling price of sheep. Ho mentioned three or four country districts, each of which was much smalier than the Hinds district, and each of which hold a successful monthly sale.

Mr McDowell seconded the motion,

The chairman on behalf of the directors, thanked the shareholders for their confidence, and assured them that their best efforts would be directed to the furthering of the interests of the company.

A ballot for the election of two fresh directors resulted in the election of James McKeage and Duncan KcEenzie.

Mr J. U, Duncan was elected auditor to the company. The meeting then terminated.