WELLINGTON MEAT EXPORT COMPANY (Limited.)

Wairarapa Daily Times, Volume 6, Issue 1764, 18 August 1884, Page 2

WELLINGTON MEAT EXPORT COMPANY (Limited.)

I ■ -—• i Report of the Directors for the year end- ' • kg June 30$ 1884, to he submitted : at the Annual Meting, to h hid at the Chamber of Commerce, Welling- '■ ton, on Tuesday, 26</j Angwt, 1884. ' The Directors have the pleasure to ' place before the shareholdeis the accounts and f balance-sheet for the year ending 30th June, 1884. Tte net ■ profit for the year amounts to £1,514 ' 9s lid, which (less the sum £156 6s ' i 9d, balance of preliminary expenses recommended to be written off) it is proposed to carry forward to next year. Since the annual meeting of ' shareholders the refrigerating works of ' the Company havebeeji completed, and ' freezing operations were commenced ' in the month of August, 1883. .The Directors have the gratification of ' • stating that the machinery, as, well as ( the construction and ar.angement of ' the building, have answered their purpose admirably, and have enabled ' the year's work to be performed with- i out a single failure, and at the mini- < > mum of expense; in short, the ! Company's plant in efficiency is ' excelled by none other in the colony. I The principal causes which have pre- ' vented a larger profit being shown on ' the year's operations are the wreok of ' the s.b, «Triumph," and consequent ' stoppage of earnings, as well as heavy i expense incurred' by lengthened storage ' of meat intended for that vessel; and ' also that the intermittent supply of stock prevented the full and constant ' employment of tho Company's works, 8 The Directors regret that they are 1 unable to recommend the payment ef c a dividend on the present occasion, c owing to anticipated loss on ventures ! ,of sli9ep per s.a. "Florida" and c "fiuapehn." The directois have also r to report that two of their number •' attended the conference of Eefriger- J ating Companies recently held in Ohristchurch, and have every reason to ( believe that the most beneficial results i will arise from the joint action then 1 : agreed upon, Three directors-Messrs '" Booth, Lysaghfc, and Abbott- retire by v rotation at the Annual Meeting, and s are eligible for re-election. s W. C. Buchanan, Chairman, i a - n