THE GEAR COMPANY. ANNUAL MEETING.

Evening Post, Volume LXXIV, Issue 150, 21 December 1907, Page 4

THE GEAR COMPANY. ANNUAL MEETING.

Tho annual meeting of tho Gear Meat Co. was held last evening, Mr. W. H. Millward, managing director, ' presiding. About fifteen shareholders were present. The chairman, in moving the adoption of tho report and balance-sheet (already published) said:— lt is with pleasure that I movo the adoption of the report and balance-sheet of tho company for tho year ended .50th November last. The figures therein are normal, and do not," I think, call for explanation. The liquid assets are large, as xs usual at this time owing to the fact that the new season's operations have hardly started when tho books aro closed. As predicted, tho quantity of stock handled during tho period under review showed a substantial increaso, and if tho weather conditions aro favourable, there should bo even more available this ecaEon. Tho greatest caro has been bestowed upon the details of manufacture, bariitary conditions, marketing, etc., and in every department further improvements have been mado whero possible. This unremitting attention has been fully appreciated, and tho out turn of tho company's products has given tho Utmost satisfaction. Until rcrontly, the markets during tho yeai remained fairly steady, but owing to the financial disturbanco with its consequent trading contraction and diminution of employment in both America and Europe, thero has been a sharp fall in prices, and wool, polts, and meat show considerable reductions in value when compared with tho corresponding period of 1906. As the operation of the company's insurance department have proved satisfactory, the directors propose to pay a bonus of 2^ per cent, out of iho insurance reserve The board wishes to express its full appreciation of tho efforts of tho staff, buyers, heads of departments, and the employees in goneral, who have, as horotofore, served the company most loyally. Dr. Newman seconded the motion, whi( h was carried without discussion. Mr. Harold Bcaucliamp moved, and Mr. J. R. Blair seconded, that the dividend and bonus proposed to bo paid should be agreed 10. This was carried. Tho retiring directors, Messrs. 11. Beauchamp, N. Reid, and Dr. Newman, wero ro-olcctcd without opposition. Tho auditors, Messrs. D. T. Stuart and R. T. Badluun, woro also re-appointod. In moving a vote of thanks to the managing director, the dircctoro, and staff, Mr. Dean said it was about time Mr. Millward, took v holiday. Ho had bcon most unremitting in his attention to the company's affairs. (Hear, hear.) Mr. Millward expressed thanks, and remarked that the company had now completed fcwenty-iivo yours of its existence, lie hoped it would bo as successful iti tlio fufuic as it had been 111 iho past.