PENINSULA SALETARDS CO. LTD.

Akaroa Mail and Banks Peninsula Advertiser, Volume LXIV, Issue 6581, 31 October 1939, Page 4

PENINSULA SALETARDS CO. LTD.

ANNUAL GENERAL MEETING OF SHAREHOLDERS

The fifty-first annual general meeting of the Peninsula Saleyard's Company Limited was held at the Company's Office, Dttvaachelle, on Friday when there were present Messrs W. W. Williams, chairman of directors, S. J. Vogan, A. K. Haytocfc and T. Stewart, directors,. W. C- G widens, D. •Kay, J E. Thacker and W. Jacob son, shareholders. Apologies were received from Messrs E. Hay, C. B. Thicker and C. W. Leete, secretary.

Annual Report and Balance Sfeeet , The annual balanc esheefc showed the financial position as follows :— Profit and Loss Account £ s d To General expenses 75 2 4 Wages SO 0 0 Exchanges 7 ® Petty cash and postages 6 6 6 Commissions 18 6 0 Depreciation 25 0 0 Net profit for year 43 13 7 £196 14 11 £ s df By yard Fiees 156 8 3 Rents 40 6 8 £196 14 XI By balance brought forward October 1, 1938 241 16 3 Add profit for year 43 13 7 £285 9 10 Balance Sheet LIABILITIES £ s d Capital— Authorised capital 500 shares of £2 each, $100® Paid 1 up capital 1060 © 0 Profit ano Loss account 285 9 10' £1285 9 W ASSETS & B <f Freehold property at cost less depreciation 1175 0 0 Sundry debtors 4 & 6 Balance at Bank of N.Z. 106 3 4 £1285 9 10 Chairman's Report The chairman's report was x*ea(i as under :— "The fifty-first annual meeting of the company will be held at the Office, Duvauchelle on Friday, October 27 at 10;30 a-m. for the adoption of the accompanying balance sheet and the election of l>wo Director and an auditor. Yard fees and rent amsount to £196 14s lid, being a considerable reduction on the previous year owing to the very inclement weather on two Sale days. The total number of cattle yarded was 2987 compared with 3719 in the previous year.

"Your Directors recommend the payment of a dividend: of 5 per cent on the paid-up capital, which wilE absorb £50, and to carry the balance forward

"The two retiring Directors are

Messrs W. W. Williams and T. Stewart, both are eligible for re-elec-tion.

'The Auditor, Mr S : . P. Godfrey, again offers his services.

The chairman said the company* Bad paid off all liabilities, put the yards in fist-class order and provided a , water trough in the stock paddock. The company's position was therefore very satisfactory.

The annual report and balance sheet was adopted on the motion of Mr Stewart; seconded by Mr J. E. Thao ker and carried.

It was reported that the tank installed in the paddock had cost approximately £30.

Mr Haylock said complaints had been m,ade against people tying their horses in front of the yards which made the yarding of cattle difficult.

Mr J. E. Thacßer moved it be a recommendation to the directors that the yardman be given authority to remove horses tied along the company's frontage.

Mr D. Kay moved a dividend of five per cent be paid on shares; seconded by Mr W. C. Giddens and carried.

Messrs W. W. Williams ond T, Stewart wer re-elected directors.

Mr Williams thanked the shareholders for re-electing him after serving on the directorate for many years. He said he would do the best he could for the company. Mr Stewart also returned thanks.

Votes of Thanks

Mr J. E. fhacker moved a hearty vote of thanks to the chairman, directors and secretary for their good •work during the past year; seconded by Mr W. Jacobson. It was decided to write to Mr C. B. Thacker expressing, sympathy with him in his illness.

A vote of thanks was passed to Mr C. H. Holmes who acted as- secretary during Mr Leete's absence at meetings throughout the year. Mi Holmes acknowledged the vote of thanks and said he was pleased to assist Mr Leete, who on May f l, next would ■have completed forty years with his firm.

Directors' M««ting

A meeting of directors was then held, Messrs W. W. Williams, S. J. Voga&, T. Stewart and A. R. Hillock being present Mr Haylock nominasfced Mt Williams as 'and referred to Ms good wori; an* "by Wgaix and Garrfet 4Mr .tfiliiams tftatiW m dite<;tow fisr their confidence in, him man. An, account fdr SS M Bd Wfcr passed for payment.