GEAR MEAT COMPANY

Evening Post, Volume XCVI, Issue 139, 9 December 1918, Page 2

GEAR MEAT COMPANY

The directors' report to the shareholders of the Gear Meat Preserving'and Freezing Company of New Zealand, Ltd., for the year ending 30th November last, states that, including the amount brought forward, and after making allowance for depreciation and payment of interim dividend, there remains a balance of £81,423 16s fcl, which they recommend for ~nro.pra.tion as follows :—ln payment of dividend of 10 per, cent, for the year ended 30th ultimo, less interim dividend of 5 per cent, paid in June, £4600; in payment of dividend of 5 per cent, from profits earned by reserve funds, less 2i per cent, paid in June, £2300; in payment of special dividend of 5 per cent, as last year, £4600; appropriation towards liability for taxes, etc., in New Zealand and Breat Britain, •£35,000; *o bo carried forward to next year's account, £34,923 16s 6d. Total, £81,423 lss 6d. Owing to the satisfactory condition of the company's insurance reserve, the directors recommend the payment of a bonus of 5 per cent. on the paid-up capital out of that account. The directors express their regret at the death of Mr. David Anderson, who for over thirty years had been a valuable member of the board.' A minute of appreciation of his services had been placed on record and transmitted to his relatives. The vacancy had been filled by tho appointment of Mr. A. d& B; -Brandon. The retiring directors are Messrs. W. H. S. Moor.house and Allan Strang, who, being eligible, offer themselves for re-election. The auditors, Messrs. Erneet W. Hum and E. R. Dymock, also offer themselves for re-election. , The company's reserve fund now stands at. £286,000, and insurance reserve at £186,323. Freehold and leasehold properties, and working plant and office furniture, are set down at £67,480.- Returns from sales, manufactures, and investments are £152,008.