MEAT EXPORT COMPANY

Evening Post, Volume CII, Issue 32, 6 August 1921, Page 7

MEAT EXPORT COMPANY

The directors of the Wellington Meat Export, Company report that the result of tlie year's operations has bean adversely affected, by "the serious slump in the value of the company's products. .Large quantities of meat anil wool still remain unsold, and it has been considered advisable to value these at a good deal lower than cost price, and at a figure which may be. considered on the safe side, rather than to anticipate any profit on them in this year's balance-sheet." An interim dividend at the rate of 4 per oent. for the half year to 31st December last was paid, and £12.137 4 3 4d has been written off for depreciation. Directors now recommend* that a dividend of 4 pea' cent, for the second half of the year be paid by transference of £10,000 from the dividend equalisation account. The dividend would absorb an amount of £9104 Ss, leaving a balance of £^643 18s lOd to carry forward. The reserve fund shows an increase of £3113 0s 9d over last year's figures, accounted r"j -v am°unts showing- in last year's balance-sheet against share premium and forfeited shares being transferred to reserve. During the year the directors appointed Mr. D. H. S. Riddiford to a vacancy on the board. He will retire, but, being eligible, offers himself for election by shareholders. Directors retiring by rotation are Messrs. James Campion and A. F. Roberts, who offer themselves "for re-election. Of tho three retiring 5 ™urs>, Messrs- F- W- Hunt md Wa. .Wheeler are eligible, and offer themselves for re-election.