GEAR MEAT COMPANY

Dominion, Volume 1, Issue 75, 21 December 1907, Page 6

GEAR MEAT COMPANY

ANNUAL MEETING. . .. The annual meeting of shareholders of the pear 'Meat: Company,''Ltd.j was held last evening. Mr. W.' H,' Milhvard (managing director)" presided; The directors' report for tho year, which has already been published, was taken as read. . - The Chairman said" It is with pleasure that,/[>, .adoption of the report and balaiide'-sheet' of the company for the' year ended November 30 last. The figures therein ■Bro'inoriri"al,'::and-:do;'.not, I. think, call for explanation.;'-'''THe liquid assets ore large, as Id'.tiSmllfiifc {plowing to the fact that the''now''season's operations have hardly started when''the hooks,' are closed: As pre- '! dieted, the' quantity of stock handled during the period under review showed a substantial increase, and if the weather conditions aro favourable there/should be-even: more available -this: season.-Tho greatest' care has-been bestowed' upoir the details of manufacture, sanitary conditions, marketing, etc., and in every' department further improvements have boen-made where possible. This unremitting attention has been fully appreciated, and the outturn of the company's products lias given tho utmost satisfaction. Until recently, the markets during the year remained fairly steady, but, _ owing to the financial disturbance, with its consequent trading contraction and'.diininution : of employment in both America" and Europe; there has been a sharp fall in prices, and wool; pelts, and meat show considerable.- reductions in value when com-pared-with thefcorresprinding period of 190 G. As the operations of tlio company's insurance dopartment havo ' proved satisfactory, the directors propose to pay a bonus of 2} per cent, out of tne insurance reserve. The Board .wishes to express its full appreciation of the efforts of the, staff,, buyers, neads of departments, and the employees in general, who have, as heretofore, served tho company most loyally.". ... .. . : - Tho motion for'thp adpption of tho report and balance-sheet'was' seconded by Dr. Newman, and carried without discussion. , Mr. H. .Boauchamp moved, in accordanco with tho directors' recommendation in their report, that a bonus of 2} per cent, bo paid on . the paid-up capital , out of tho insuranco roservc. '. v ' Tho motion was seconded by Mr. J. R. Blair, and carried. ' The ; retiring directors, Messrs. H. Beauchamp, N. Reid, and Dr. A. K.: Nowman wero ro-olected, thero being no other nominn.tions.t Messrs.'D. T. Stuart and R. T. Badham wero' ro.-clectcd 1 as auditors. Mr. 13. H. Dean moved a vote of thanks to tho! managing director, directors, and staff! Mr. Millward, ho said, had given vory closo and unremitting attention to tho Company's affairs, and ho hoped that tho directors would prevail on him to take, a holiday. Th<j. motion was carricd. Mp. :Millward, in .returning thanks, mentioned that tlib Company had now completed its twenty-fifth year. (A Voice: "Its silver wedding.") Ho hoped that it would bo as successful in tho future as it had boon in tho .past.