SOUTHLAND MEAT COMPANY.

Press, Volume LXVIII, Issue 20470, 13 February 1932, Page 16

SOUTHLAND MEAT COMPANY.

DIVIDEND OF 12 PER CENT. '1 he directors' report of the year's operations to December 31st is as foJTho profit and loss account for year ended December 31st, 1931, shows a balance of £3(3,578 5s lid, after providing for depreciation, contingencies, and repairs, and also the payment oi an interim dividend of six per cent, at the half-year. Tho directors recommend that this balance be appropriated by tho payment of a further dividend ul' six per cent, on:— £ s . d. l'aid up eapiuil 0,812 l(i 5 And that- the balance bo carried forward ... 29,<60 Jo £3(5,578 5 11 It i.-> with extreme regret that the direetors record the death of Mr Jonn Matin-son, who was elected to tlie liourd in 1 \>22, During his ten years v.M-viK- Mr Matheson evinced a keen'interest, in the company's busi„,w ; ,ml his financial and commercial km>wU-dge ntado his .services ot -reat.-t value U> Ins co-directors ?|,o company. In addition to tlie var im v tlioreW created on the directorate Mr A. Gerrard retires by rotutnin, and lie. being eligible, offers hiJ"self for re-election. Ihe .shareholdeis are. therefore, called upon to elect two Mr''i)i Cuthbei tson, the auditor, also offers himself for re-election. *1 }<<• following is a comparison or tbo ..rlru-ipaf items iu this and last years • ala nee sheet.-.:— 19w . 1031. I •I'jllitio-S- £ £ \-«pita 1 ■■ -• I".*"" Ua ' 51 ' Cre biUtic3 atld C ! nt ' 06.131 89,861 ~.J™ .. .. 30,000 SO,OOO 7Vs. for fire irisuralß'K 25,000 20,000 Cr. balancti at prout . „ K - 7 o and loss ' •• 3t . 701 " 6 ' u7S Aj.sets— Krecliold and leasehold tiropcrtips * • I^,ooo Stocks and stores m _ u-nrks .. •• 31.070 04,7-.> Consignment."! unrealised 6,913 B,SSG Sundry debtors and Q mortsa-jes on'gga Investments .. •• 8_,650 and . Ca * 0 ." *0.075 2G7 Profit •• •• 23 '°™ Dividend, per cent. .. - Amount •• •• ' WESTPORTSTOCKTON COAL CO. ANNUAL REPORT. The annual report of the directors of tlie We*ti>ort-Stockton Coal Company, Ltd., to be pre»ented at tho twenty-sUtli annual meeting of shnreholdera on Friday, February 26tU, j» as follows:—— Your directors present herewith the company's accounts to December 81st, 1931. The year's output was 100,855 tons, being 16.161 tons less than 1930. . , o The output was considerably reduced by a hold-up at Westport, -which Insted five weeks, and by the reduction in Government railway orders and by other causes. The year's operations resulted in a -\vorlcine surptus of £7892 4s 3d, which has been allocated to writing off the loss made In 1929 of £5316 7s 2d, and tho balance, £2575 17s Id. bo written off as depreciation. Our general manager, Mr G. G. Townsend, resigned early in tho year, and Mr W. Hardie, chairman of directors, was appointed as managing director. ■ . The directors regret to report the death of the company's auditor, Mr W. S. Godfrey. As his son, Mr S. P. Godfrey, was thoroughly conversant with the company'saffaire, Messrs Godfrey and Franklin were appointed as auditors until the annual meeting of shareholders. The directors retiring by rotation are IJr. C. C. Farr and Mr C. G. McKellar, who offor themselves for re-election. Balance-Sheet. Tho balance-sheet is as follows: LIABILITIES. £ s. d. Authorised Bhare Capital—--262,940 Ordinary Shares of 10s each .. 131,470 0 0 137,060 Preferenco Shares of 10s each .. 68,530 0 0 £200,000 0 Q Issued Capital—--262,940 Ordinary Shares fully paid ~ 131,470 0 0 132,631 Preference Shares fully paid .. 06,315 10 0 _ 197,785 10 0 Second Debentures—--8 pc. Debentures subscribed .. .. 19,450 . 0 0 Interest accrued .. 887 10 0 w . t . 19,837 10 0 First Debentures—--61 p.c. Dobentures eubscribed .. .. 60,000 0 0 Interest accrued ... 812 io 0 6o;sia io o bundr;- creditors .. 7,164 2 11 £275,599 13 11 ASSETS. Property account 239,488 ll" Furniture, Christchurch and "Westport .. .. 180 i 2 Tools and stores . . 7,786 8 1 Coal stoclrs in n d H b h*° r * I. "• 12,079 12 11 ©unary debtors, house purchase . . . . 3 187 n j cash on deposit and m hand 11,707 18 6 £275,599 12 11 Profit and Loss Account. The profit and loss account is as follows: Loss brouitht forward . . 5 sfc %' ireights and distributing ex- " rtoya"" 8 •• 13 2 and cxel "">se 4541 J? Debenture tax . . i'ot« H I Directors• fees .. " " I pepreriation . . .2 ? expenses, salaries ' rent, advertisinc, printin s ] oflico expenses, postage. ' ■ 2,702 13 5 £75,803 3 5 Transfer 'fees C0!)I accounfc 75,801 8 5 • • 1 15 0 £75,803 3 5 METALS MARKET. 1 1 SITED I-RSSZ ASSOCIATION —BT EL*CI*IC TKLUOBAra—COPYBISHT.) VMnlatmr.:- LUXDOX » 11. Feb. 10. I'cb. 11. P er tori - per ton! Copper- £ B.d. £ B . d . •-tmicJajd, epoc .. 35 Iti 3 £}s 6 10i\ .. .. 35 6 8 35 4 4J ■Ue..-.iohtic ..WOO 39 15 0 to .. 41. 0 0 _ \\ ire bari U 0 0 L. A 'j lel ' Can " cents per pound. •• .. ini .1 _ l-"<Jf>'.a,-(J .. .. His D •Spiltpr—- .. .. in i.-> o _ .. H 3 _ •• •• 130 3 9 .. .. _ i;; 9 o 0 Standard, per oz. 1!) S-lfid ' 19 5-16 d Fine, por ox. .. 20 13-16 d 20 13-lGd