CANTERBURY SALEYARDSCOMPANY.

Press, Volume XLI, Issue 6055, 11 February 1885, Page 2

CANTERBURY SALEYARDSCOMPANY.

The annual general meeting of the* shareholders of the above was held last night. The chair was occupied by Mr ' John Henderson, Chairman of Directors.

; The Sxcbvcaby having read the circular convening the meeting, the following, report was taken as read, viz.:-— . Your Directors have much pleasure is reporting that notwithstanding the great" depression of the times, there has been an iu&wSß m au aeßcnptftma or uwcic passed, through the Yards in 1884 over that of the-' preceding year, namely 50/7X5 sheep, 2667 head of cattle and 42a pigs. The Memorandum and Articles of Association, with all" I additions made therein by special reeohv-. tions, revised and settled by the Company's, solicitors, have been printed, and are now. ready to be issued to shareholder?, at a charge of one shilling each. Your Directors - also beg to report they are now increasing; the Dilapidation Fund, having taken up. seventy-five shares in the Canterbury Building Society, and the additional payment of JB9 7s 6d per month they think will - be sufficient to accumulate a fund of J82500. for the purposes required. It has already reached to .£1304 7s Id. It has been noees~ aary to make a further call of ten ehiUisse. per share on the 1000 new eharei, towards paying cost of paving the sheep pens with, brick, making new landing stage at the. Bailway eiding, and other permanent works paid for out of profits, made payablft on 31st January, 1883. The accounts, duly audited, are laid upon the table,, printed., copies of which have been sent to each, ' shareholder. The balance to the credit of." profit and loss is .£llOs 18s Bd, out of which your Directors recommend that a dividend of 8 per cent, for .the half-year on £11,250,. the paid-up capital to Slat December, be , declared, leaving a balance to be carried forward to credit of profit and loss new account of .620518 a Bd. The Directors whoretire by rotation are Messrs John Mann, - W. Henderson and Thomas Bruce, who areall, however, eligible for re-election. Aα ' Auditor for the current year will also haveto be appointed. A statement of accounts duly audited, was also laid before the meeting. The profit and loss account showed as followb : —Dr.—To salaries, 4319 6s; repairs,. • £90 13s 8d; labor, £17 19a j advertising, printing, and stationery, J829 12a 7d j ex- - penses, £49 13s 6d| property tax and. annual license, £25 lHt 8d; insurance, £12 13s Id; interest, 9s Gd; remuneration toDirectors, £63', dilapidation fund, £217 10s. Total, £826 15s 7d } balance—profit on the year carried down, £1503 16s lid* T0ta1,£233512a6d. To paid 6 percent, dividend on £10,250 for half year, to Slet December, 1883, £615 ; 6 per cent, interim dividend on £10,750 to 30th June, 1884, £645 j balance to credit of profit and loss carried ddwn, £1105 18s Bd. Total, £2865 18a Bd.—Or.: By yard fees, £1680 10a 4d; rent account, £573 12a } transfer fees, £19 83 j pound fees, £58 10a 6dj suspense account, £3 16s Bd. Total, £233512s 6d. By balance brought down*. £1508163 lid; balance brought forward from the 31st December, 1883, £857 Iβ 94. Total, £236518 a Bd. The CsAixxAN said, in moving thfr adoption of the balance-sheet and annual report, he regretted the absence of Messr* E. Wilkia, J. Mans, and T. Bruce, threeof their Directors. The increase in ttock . during the year bad been good, and the* Directors had bees improving the yard Mfar as they could' They recommended th*payment of 8 per cent, dividend this halfyear, which, added to 6 per cent, last halfyear, made a total of 14 per cent, for the yesr. The Directors had called up a portion of the capital on the new share* because they had been expanding money out of revenue which should be paid out or capital. [Hear, hear.J With these fewwords he moved the adoption of the report and balance-sheet. :

Mr J. T. Mα*box seconded the motion*, and fculogiaed the "Directors for the zeal and energy displayed by them in conducting the business of the Company. They had been most fortunate in having cc», ■ cured the services of such gentlemen, as-, he felt that they had most carefully and wisely conserved the interests of the shareholders. .

The motion was put and carried. The Chatbhan said that last year they had been instructed to increase the dilapidation fond and they had done so by taking up seventy-five shares in the Can* terbury I- uilding Society, which involved ft cost of £9 12s 6d per month. Mr J. T. Matuon moved the re-election of Messrs John Mann, W. Henderson, and T. Brace as the Directors of the Company*-; He differed from the Directors in the wsf in which, the Yards were conducted. The population had increased greatly since the yards were started, and a good deal of time we s wasted on Wednesdays. He ' should like to see an alteration similar to that obtaining in Australia, where the? aaltffl started early in the morning, and all.

4fce lots were got rid of by noon. Why ■hould not the fat stock salee start at ' - - eurht o'clock in the morning, and let the Sore stock eales follow. The fat stock early in the morning, and the igtoresbeck afterwards. Hβ now moved the motion he had spoken of, and he con- . tended that the Directors were worthy of the greatest possible commendation for their dogged honestyin carrying out the - inks at the yards. [Hear, hear/] Mr T. Bow* seconded the motion. He thought that the auctioneers ehould treat t&e buyers more liberally, and then there mold not be so much private dealing. The motion for the re-election of the three retiring Directors was then put and - carried. On the motion of Mr S. Gabtobth, Mr 2. B. Alport was re-elected as Auditor for the ensuing year. Mr J. T. Matson moved, -'That it be a recommendation to the Directors to pay ifce Auditor J£lo 10a per annum." Mr Macbkath seconded the motion, which was carried. Votes of thanks to the Directors, and to the Chairman, closed the meeting.