CANTERBURY FROZEN MEAT COMPANY.

Dominion, Volume 1, Issue 90, 9 January 1908, Page 7

CANTERBURY FROZEN MEAT COMPANY.

ANNUAL MEETING. (BT TELEGRArn. —rifESG ASSOCIATION.) ChriEtohUfoh, January 8. Tho annual mooting of tho Canterbury Froiscn Meat Company' was held at .tlio Chamber of Comuierco this afternoon, when Sir Georgo Clifford (ohairnian of directors) presided. Tho directors' annual report stated that tho net profit for tho year was £20,580 Gs., and that sum, after adding tlio amount carried,forward from last year, and deducting tho interim dividend paid, and writing £5000 off tho works account, left £15,728 7s. 10d., which the'directors proposed should bo dealt ' with as followsTo • pa.yment of a further 3 per cent, on the preference shares (making 15 por cent.'for tlio year), £2250; to payment .of a further, 4 por cent. 011 tho ordinary shares' (giving 8 por cent, for tho year), £4340 25.; to transfer to Accident Insurance ' 1' utid account, raising this account to £2000, £056 16s. 4d. j to transfer to Reserve Fund account, £8000; to carry forward, £572 9s. Gd.; total, £15,738 7s. l'Od. Tho quantities of stock dealt with at tlie Company's works were:'— Belfast, 513,970 head; at.Fairfield, 373,306. head: at Paroora, 282,053 head; total, 1,163,319 head, boing an increase of 112,013 over tho figures of last year. Tho balanc'c-shpot showed a balanco. of £223,012 2s. id. of assets ovor liabilities, tho property of the Company being valued at. £327,554 12s. sd.,*and tho liabilities totalling. £104,541, 15s. lOd; Tho profit , and lops statement showed that the receipts for the year had amounted to £40,9.63 os. 3d., mado up of £6747 3s. 10d. last year's biilanco, £34,212 13s. lid.- balance of freezing, etc., accounts, after'deducting wages, and £3 2s. 6d transfer fees. Tho oxponditu'ro had boon £25,234 12s. 5d., which included £5575 os. 6d. general oxpoiisos, £591.1 4s. interest and insurances, £2149 Bs. lOd. rates, and taxos, £5000 amount written off works, and £6599 2s. dividend paid at tho half year, the credit balnnco beintc £15,728 7s. lOd. ■ _ . ■ Tlio Chairman, in moving tho adoption of tho report and balance-shoot, referred to tho operations ol the Company during tlio past year, and pointed out that, whilo 27,533 moro lambs had been shipped than in tho preceding year, tho weigjit on which payment was received was 227,8911b. less. Tho disastrous fire at Belfast disorganised tho operations of tho Company for a time, and tlio strike of the slaughtermen was another evil which proved a temporary ombarrassment.