COMPANY AFFAIRS

Auckland Star, Volume LXXII, Issue 273, 18 November 1941, Page 3

COMPANY AFFAIRS

WELLINGTON MEAT YEAR

After providing £8271 for depreciation the profit of the Wellington Meat Export' Company, Limited, for the year ended September 30 is £6388, compared with £6270 last year and £6684 in 1939. The directors propose to paj& the preference dividend of 6 per cent, requiring £4732 unchanged, leaving £1656 to be applied ° : debU * the

Ordinary shareholders have not received a dividend for about 13 years. P- f f re f nCe sh ?£®|} olders received no payment from 1928 to 1935, when thev ™ pl ° posa!s for Payment of 5 per cent per annum in full settlement of arrears of dividend to 1934. They also agreed to accept 6 per cent per annum cumulative dividend after that and to forgo the right to participate in any payments beyond 6 per cent. The report says that £9324 has been expended durlng the year in altering and equipping a building for emergency cool storage under an arrangement by which the Government will lend some £13,000. It was anticipated that the equipment would either be removed or purchased bv the Government after the war and that the loan would then be cancelled. The ac™«nts balance at £245,666, against 1247,297 last year. Funds on deposit are shown as £66,276, compared with £84,557.

ABRAHAM AND WILLIAMS, LTD. At the fortieth annual meeting of -Abraham and Williams. Limited, at \\ ellington yesterday, the chairman, Mr. R. S. Abraham, presided. The report and balance-sheet (published in the Star) were adopted, including the recommendation for payment of a final dividend of 7? per cent, absorbing £2207. Messrs. E. H. Binney, W. P. Lindsay and J. T. Martin. the retiring directors, were re-elected.