LONGLANDS SALEYARD CO. Ltd

Hawke's Bay Tribune, Volume I, Issue 241, 28 September 1911, Page 4

LONGLANDS SALEYARD CO. Ltd

ANNUAL MEETING. A VERY SUCCESSFUL YEAR. The annual general meeting of shareholders in the Longlands Saleyards Co., Ltd., was hold yesterday morning in the Company’s office, Station street, Hastings, when the report and balance sheet were placed before the meeting. Mr. J. A. Miller occupied the chair. The balance sheet showed a net profit on seven months’ working of £lO5 29. Of this amount £54p3/2 was written off preliminary ex- ■ ponses. A 5 per cent discount was declared, and the b.'flanee carried forward.

The chairman’s (Mr. J. A. Miller) report was as follows: - - "In jilacing’ before ybu Hie balance sheet of the Longlands Saleyards Co., Ltd., 1 have t.> congratulate you on its r.uccer.sful working. The company was formed for the pupose of having yards owned ami managed by the farmers and profits from yards to belong to the farmers. 'The yards were opened in January, 1911, and from that ilati', in spite of all prognostications to the contrary, have been a most marked success, thanks to the suppori given io the company by the shareholders, till' energy of Hu* auctioneers, and the acknowledgment by the general public that these yards are in the most central and convenient position. In seven month’ selling the net income has been £105. 2. 9. equal to 20 per cent , on the paid up capital. Your directors recommend the payment of a 5 per cent dividmid to write off preliminary expenses and brokerage. As I had i,h(' honour of floating these yards in face of all difficulties I feel proud that the venture has proved a marked success, a great deal of which is due to Mr. H. N. Stewart. Mr Stewart and myself consider that ar- it is a farmers, saleyards, that we should retire from the directorate and leave the' management only in farmers' bands.” The report and balance sheet were adopted. Messrs M. Chambers. G. Elliott: and W. J. Hill were added to the direct orate. Mr. G. Ebbett congratulated Mr. Miller on forming the company in . face of all opposition and considered that his pluck and perserv erance in establishing and carrying the venture to such a successful position deserved the thanks of the shareholders and the community ,as through these saleyards being formed the v. h<*l< district had received the benefit; by reduced commission and general facilities. A vote of thanks was seconded and carried unanimously. Mr. Miller, in replying, thanked the speakers for their kind remarks, and reviewed the difficulties overcome and congratulated Hie shareholders on th(‘ir support. He also pcintf'd out the credit due to Mr. Stewart for his great assistance and riqqiort of the conqiany.