New Zealand Pedigree Stock and Stud Company.

Auckland Star, Volume XXIV, Issue 4353, 26 April 1884, Page 3

New Zealand Pedigree Stock and Stud Company.

The annual meeting of the Now Zealand Stud and Pedigree Stock Company was held at tho Company's offico, Shortlandstreet, at 2 o'clock pm. on March 31. Mr T. Morrin presided, and there were about 15 shareholders presont. The report showed there had been a loss of about £4,000 for tho year, owing to the re-valuation of the stock, The balance-sheet showed the valuation of the Company's proporty to bo ns follows :—Cranston estate, £62,000; Sylvia Park estate, £28,879 12s 6d ; Meadow Bank estate, £27,068 5s ; Greenhill, No. 1, Butloy and Chase estates, £28,658 11s 9d ; shorthorns, £16,578 10s; thoroughbred horses, £17,315 j Clydesdale horses, £8,520; Lincoln flock, £4.129 ISs, Leicester flock, £2,8J3 18s ; tho total assets being £252,949 3s lid, tho liabilities being :—To capital, £70,193 10s ; Bank overdraft, £28,504 12s 9d; bill payable, £150; sundry creditors, £154,091 Is2d. The expenditure during the year had been £28,924 10s lOd, of which £8,888 0s 5d was interest on mortgages; £2,039 3s 7d depreciation on shorthorn herd ; and £1,350 11s 9d depreciation on Clydesdale horses. The profits had been : —Thoroughbred horses, ' £4,671 5s 3d ; Herefords, £2,392 Is 8d ; profit on farming, £3,775 0s lid; profit on shares St. Helier's Bay Company, £1,635 6s 10d.—Tho Chairman in moving the adoption of the report, ascribed the unsatisfactory state of the balance-sheet to the re-valuation of the stock. The sales during the year had only been £16,700, but they hoped next year that they would amount to £22,000, which would pay expenses and interest, and givo a profit of 5 per cent. —The motion to adopt the report was put, and carried without dißsont. Tho retiring directors—Messrs Frith, Clark, and Morrin—wore then roelected, and, Mr Milne having been reelected auditor, the proceedings terminated.