CHRISTCHURCH MEAT COMPANY.

Dominion, Volume 4, Issue 1023, 12 January 1911, Page 2

CHRISTCHURCH MEAT COMPANY.

A RECORD YEAR,

(By Telegraph—Press Association.) Christchurch, January 11. The annual meeting of the Christ-church ileat Company was he-Id to-day. The chairman (Mr. 1\ De. C.' • Malet) in moving the..adoption of the report and balance-sheet, said that the balance available for appropriation was 1652,807 Its. 2d., which it was recommended should' be disposed of as follows j—To add to reserve (making this account .£75,000), .£15,000; to ..add., to. general assurance, reserve (making this account .£30,000},' e£15,000; to pay a dividend of -i per cent for the half year, ended October 31, 1910 (making 8 per cent i'or the year), ,26765 17s. 9d.; to pay a bonus of 2 per cent on the paid-up "capital, «£3382 18s. 10d.; leaving an, amount to ' carry forward of .£12,658' 17s. 7d. Continuing the chairman said: If the suggestions, as contained in- the'report, are approved we will 1 have our reserve '.account standing at .£75,000, and our general assurance reserve. at. .£30,000. It is proposed "to pay, as usual, 1 per cent for the second lialf of the year (making 8 per cent per annum) and, in view -of the successful result of the operations of the year, the directors have pleasure in recommending the additional oonus of 2 per cent on the paid-up capital. The beard have no hesitation in making this recommendation in view of the fact that, on, mora than one occasion in the past,, shareholders have had to content themselves with a considerable reduction in the annual dividend. These appropriations will leave <£12,658 17s. 7d.* to be . carried - forward. As indicated in the the past season's business is. much-the largest that the company has yet experienced since its inception. The number of stock slaughtered shows a grand total of 1,614,796 head as having passed; through the five works of the company—an in- 4 crease of no fewer .than 301,291 on, theprevious season's figures'.,. This, must be taken as particularly gratifying, and is a sure index of "the which the company enjoys at the hands of the producers in , the South Island. On the whole the markets for our main "'product —lamb—have .been very satisfactory, a good level of values having been maintained throughout the season. In view of the unsatisfactory prices ruling during the previous year, this return to a more normal level- of values is particularly gratifying, and producers and all others interested have no reason to' be dissatisfied with the course of During 1910 wool again -realised-'good values throughout the whole of the year, and the various other products of * the company, haye met with good markets*. The values ruling for'our extensive shipments of tallow and oleo for a certain .period during the past year were phenomenally high, and. the successful result of come of our shipments of these lines contributed in no small measure to the profitable result of the year's working. •* • The report was adopted. •