MEAT EXPORT COMPANY

Evening Post, Volume XCVI, Issue 22, 25 July 1918, Page 2

MEAT EXPORT COMPANY

The twenty-ninth annual report of tihe directors of the Wellington Meat Export Company states that owing tq continuance of war conSitions and consequent lack of shipping, stocks have accumulated exceedingly, and responsibilities are correspondingly great. In consequence, the directors have not taken into account estimated surpluses from sales of.stocks in hand,: but decided to transfer to profit and loss account the balance of £10,000 staiiding in equalisation of dividend reserve, which, after deducting £5564 9s 4d depreciation, leaves at credit of profit and loss account the sum of £12,544 9s 6d, from which the interim, drs.lend of four per cent., amounting to £5929 13s 6d, was paid at 31st December, 1917, leaving £6614 16s, which it is recommended to apply in payment of a further dividend of four per cent., abs&rbing £6132 9s lid, and leaving £482 6s Id to be carried forward.

The retiring directors are Messrs. James Campion and Martin Elgar, who, being eligible, offer themselves for reelection; .

' : Messrs. E. P. Bncholz and W. S. 'Wheeler, retiring auditors, are eligible for re-election.

The stocks are estimated at 5555,762; consignments, £80,548. The company has received, by way of advance against meat in store on Imperial Government account, £118,411. Freezing, sales, and manufactures, during the year totalled £45,383.