CANTERBURY FROZEN MEAT COMPANY.
ANNUAL MEETING. CHRISTOHUROH, January 9. The annual meeting of the Canterbury Frozen Meat Company was held to-day. The report stated that the profit of the year arrounted to £11,470 8s Id. The directors proposed to transfer £6092 6s 8d at debit of profit and loss account at November 30, 1904, to debit of reserve fund account; to pay a further dividend of 3 per cent, on preference shares, making 6 per cent., for the year, and absorbing £2250; to pay a dividend on ordinary shares at the rate of 4 per cent., absorbing £4345 ss; to transfer to the reserve fund, £2000; to carry forward to next year's account £BOI 17s 3d. Profits made on sales not required, for the company's purposes, amounting to £321 14s passed to oredit of the works accuuut. The numbers of stock dealt with during the year were:—At Belfast, 257,744 head; at Fairfield, 294,845 head; at Pareora, 139,422 head" total, 692,011 head; being a decrease of 61,284 head at Belfast, an increase at Fairfield of 6029, and at Pareora of 45,218 head, or a net deorease of 10,577 bead, as compared with the figures of the previous year. The chairman, in his address, congratulated shareholders on the continued prosperity of the company. The balance-sheet showed that inorease in the company's capital indicated more stability bud a greater independence of the fluctuations of a sensitive money market than they formerly could claim. Reference was made to the fact that farmers were apparently recognising the drawbacks of the suicidal policy of freezing ewe lambs. After reviewing the balance-sheet at length, he concluded: "If the output of the next year does not belie anticipation, it seems certain that our company, taking no speculative risks, and oonfining itself steadily to earning the legitimate profits of preparing meat for shipment, can scarcely fail to realise the expectations of its shareholders, while we trust it will continue to command the merited confidence of all its clients." The report was adopted. Sir George Clifford and Mr James Gough were re-elected directors.
CABLE NEWS.
By Telesrrnph—Press Association—Copyriffht
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https://paperspast.natlib.govt.nz/newspapers/WAG19060111.2.17.12
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Wairarapa Age, Volume XXVIII, Issue 7938, 11 January 1906, Page 5
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348CANTERBURY FROZEN MEAT COMPANY. Wairarapa Age, Volume XXVIII, Issue 7938, 11 January 1906, Page 5
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