MASTERTON FARMERS' IMPLEMENT CO.

Wairarapa Age, Volume XXXII, Issue 10270, 24 June 1911, Page 5

MASTERTON FARMERS' IMPLEMENT CO.

THE ANNUAL REPORT. Following is the report to be presented at the annual meeting of shareholders of the Masterton Farmem' lanptement Qompaaiy, to-be held on Saturday next: — Your Directors present the attached balance sheet for the year ended 30th April, 1911, showing a nett profit of £404 14s 9d, after providing for depredation. Tlie balance of assets over liabilities now stands at £2667 17s 7d. The Company's turnover shows an increase on the previous year, whilst the profit is better and the bsniK overdraft considerably reduced. In. view of the lease of the present premises expiring in' August next, <nnd .the- owners requiiTng part"df" the" land, your Directors have decided to remove to the Company's own freehold as soon 'a s• Arrangements will permit. As this will necessitate considerable: outlay, your Directors do not recommend the payment of a dividend tliis year. Owing to the Municipal Corporation's Amendment Act. 1910, Mn 1 James Elliott found it necessary to resign from the Directorate in January last, and your Directors decided riot to fill the vacancy until the annual meeting. Mr James Miller has been nominated to fill the position vacated by Mr Elliott, and Mr. B. R. Rayner retires from the Directorate, but, .being eligible, offers himself for re-election. The Auditor, Mr J. B. Keith, also offers himself for re-election.—W. PERRY, -.Chairman.