FARMERS' FREEZING CO.

Auckland Star, Volume XLIX, Issue 207, 30 August 1918, Page 7

FARMERS' FREEZING CO.

ANNUAL REPORT. Tie aanaaa report of the Anckrand Farmers' I'reesins Company, to be _ submitted to the annual meeting of shareholders on September 2tt, .refers to the increased storage accommodation of tne companj- and the arrangeTEent made witU the North Auckland freezing Company to erect works in North Auckland An arrangement has been made where-bj- the wnnpany's works at Horothi will be gazetted the abattoirs or the borongh or Hamilton. Concessions to clients <>n the freezing of meat and butter and the <*iillng of cheese during the year amounted, to £7000. After providing for depreciation and income tax, the profit for the year in_silio-wn as £22,711 14/1, which, with i2)w S/7 hronglit forward from last year, makes a total of £25.686 17/ S. Of this amonnt it Iβ proposed to allocate filttX) for the. payment of a dividend of 8 per cent, to add £12,000 to the reserve fund, and to carry forward £4186 17/ S. The retiring directors. Messrs S. J. Ambury and A. Orr, bavins been nominated for re-election, and them having been no other nominations, were declared elected. The balance-sheet shows the working profits for the year, after prsvidinß for depreciation, to have been £61,1!Ki 10/ a. The chief items of expenditure were:—Salaries, directors' fees, and general expenses, filSno 17/.H); rates, taxes, and interest, £28,573 2/3.