KILLED BY A FALL FROM A HORSE.

Wairarapa Daily Times, Volume XVI, Issue 4996, 8 April 1895, Page 2

KILLED BY A FALL FROM A HORSE.

I (By Telegraph.—Press Association.) Auckund, Monday, ■'' A young man named Jas. Allcook, of Archill, was thrown from his horse and dragged along the roadway. He was' pioked'up' unconscious and I diedatnpdnigM,

l/lasterton Blacksmith and Wheelwright li/lanufacturinq Company, Limited,

The annual general meeting of tffl| shareholders of the above Company was held at the Temperanco Hall on Saturday afternoon, Mr J. Stuckey, Chairman of Directors, presiding. Amongst those present were.— Messrs C. E, Daniefyjas, McGregor, A. W. Cavo, J. Perry, D. McKenzie, ; T. E. Chamberlain, G. Watson, W. H, Beetham, and others,

MIXUIES, The minutes of the previous meeting were read and confirmed.

REPOKT AND BAUXCK SHEET. The Chairman, in moving the .adoption of the report andbalanco sheot, said he was sorry not to-see a larger attendance at the meeting. , He regretted that the balance sheet. . was not so favorable as last year. The turnover was£Booless, and the profits were consequently less in. ' proportion. Tiie directors did rot, see their way to recommend aaK (lend. They were handicapped want of capital, and the directors •..' found this fact forced uponthem-. on every hand. . '. Mr J. McGregor seconded • the.

motion. • '■'.-, ; _ Mr T. E. Chamberlain said that from the balancesheettheir appeared., only a profit of ono and a quarter per cent, on the work done, and the wages paid would indicate that a larger profit should liavo resulted. If they built a buggy that costsay £SO, then profit would only be 17s 6d. Ho. noticed in the balance sheet, they, put the overdraft at £310; but. the. interest paid indicated that the.-, overdraft must have been much . larger. In the face of the fnots '■■, submitted he failed to see how they would get capitalists to take up the . increased number of shares it was . proposed to issue. A In reply to Mr G. Watson^Le' Chairman said that the number of hands employed varied according to requirements, their pay sheet was about £250 less than last year. In reply to Mr Chamberlain's statement re overdraft he said they endeavoured to keep the overdraft down as much as possible, With sufficient capital thoy could do three times the amount of work and that with considerably more profit. The report and balance sheet were then adopted.

DIRECTORS. On the motion of Mr A. W. Cave seconded by D. McKenzie, Messrs J. Reynolds and J, Rayner wero elected directors in placo of Messrs o, McGregor and T. P. Lett, AUDITORS. On the motion of the Chairman. Messrs R. Brown and A, Hathaway wero re-elected auditors and their reI numeration was Used at the same as last year.

ALTERATION OF ARTICLE!), Mr C. E, Daniell's motion of which he had given notice" That in the articles of the Association which reads" no member shall hold less than one share nor more than fifty shares" be altered to read" no member shall hold less than one share"; that clause 80of articles of Association be struck out," was tben given. Speaking to tbo motion Mr Daniell said it was absolutely necessary that more capital should be obtained, AsJlr Chamberlain had pointed out the overdraft wna heavier than it should be. It was his opinion that with increased capital they could obtain a plant that would enablethemto do heavy work that now they were unable to touch. They required motive power, say a four horse-power gas engine, a circular saw, band saw, lathe etc,, to enable them t« carry on all classes of work successfully. They had made ploughs successfully, a work which was within their meaiiSjwHe estimated the cost of cated at about £4OO and extra buildings at £2OO. Mr Jas, McGregor, seconded the motion and stated that it was absolutely necessary they should enlarge their plant and for this pur. pose more capital was required. The Chairman said the proposal of Mr Daniell meant that they should finance with the shareholders in place of the bank. He pointed out that if they got no dividend they had been able sinco the company was established to get their work done at a much lower rate than if they had allowed the blacksmiths of Masterton to put up prices twenty' five per cent, as the union then formed proposed to do. He believed they got their work done one-third cheaper since the company started. , He himself was prepared to take up more shares provided that he was enabled to do so. flßfil The resolution was caried^U^^ The Cbairmanstatedthataspecial meeting would borequired to confirm tho resolution now passed.

NOTICE OF JIOTIOX. Mr C. E. Daniell then gave notice to move at the special meeting " that £IOOO in preference shares of £5 each be issued, guaranteed by the present capital of the Company bearing interest at 8 per ceut." Mr Daniell intimated that the Directors were prepared to take up one third of the new shares. He had only one doubt in his mind and that was whothorthey should not increase by £2OOO in place of one thousand.

Mr J. McGregor said tho proposal of which Mr Daniell had given notice meant that if the Company had the assistance required they could undertake any; heavy work that camo along. Subsequently .the '■ motion vras altered to-read" £2,000."

" TUANKSi . The usual "vote of thanks.'Afo employes was put and canned SHpF ' motion of the Chairman, who stated that he felt sure no one could take greater interest in' tho affair than their Secretary, and the new Manager was taking every interest in the Company. If all went well he hoped they would be able to show a much larger profit next year. Mr W. B, Chenuells, Secretary, ' returned thanks for the vote carried. He explained'that with a capital of £I4OO it was difficult to cany on, they paid away £BOO a month, and as their accounts were nearly all quarterly, they had to push the farmers for payment at times, when ; often they were not in receipt of their own returns.

In reply to Mr Beethatn, Mr Chenuells stated that the bad debts last year amounted to £SB, and £4B the previous year, On tho motion of Mr T, E. Chamberlain, seconded by MrW. H. Beetham, a hearty vote of thanks to the Directors, was carried unanimously.' The proposer said he hoped the. time would soon comewhehjMy could offer them something than thanks for the onerous duties they performed. " '

.The Chairman replied that, for limself, it was a labour of love. The meeting then closed.'.