COMPANY AFFAIRS.

Auckland Star, Volume LXVII, Issue 297, 15 December 1936, Page 5

COMPANY AFFAIRS.

CANTERBURY FREEZING,

HIGHER CHARGES NECESSARY.

(By Telegraph—Press Association.)

CHRISTCHURCH, Monday. The 55th annual meeting of the Canterbury Frozen Meat and Dairy Produce Export Company, Limited, was held to-day. ihe chairman, Mr. John Deans, said the year had been successful. Although the profit was slightly less than that of last year, it had been possible, in addition to paying the same dividend as in recent years, to add to the reserve fund which, however, was still £55,000 short of the reserves shown in the balance-sheet of 1928. Depreciation had also been provided for buildings and plant, which now stood in the books at a reasonable figure. All stocks and assets had been valued oil a conservative basis, and a large proportion was in liquid form.

Tlie company was in a sound financial position. Recent legislation had increased wages and operating costs, and to meet this the freezing rate would have to be increased, but the clients of the company could be assured that this increase would be kept as low as possible. The report and balance-sheet were adopted. The retiring directors, Messrs. John Grigg and John Deans, were re-elected unopposed.