H.B. MEAT CO., LTD.

Hawke's Bay Tribune, Volume XII, Issue 235, 16 September 1922, Page 5

H.B. MEAT CO., LTD.

ANNUAL MEETING OF SHAREHOLDERS. PROFITABLE YEAR’S WORKING. The annual meeting of shareholders of the Hawke’s Bay Meat Co., Ltd., was held at the works, Whakatu. on Thursday, when there were about 100 shareholders present. The balance-sheet showed a profit of £13,803 17s 3d. The directors recommended that of this £6OOO be provided for income tax and £3OOO be added to the reserve fund; tiiat a dividend of seven per cent be declared, and the balance £2351 be carried forward. — The report and balance-sheet were adopted, and Messrs J. H. Glazebrook, A. C. Russell and L. H. McHardy, the retiring directors, were re-elocted ami Mr. J. A. Fraser was again appointed auditor. Mr. C. C. Smith referred to the importance of cheap manure for the shareholders and it was pointed out that 16 per cent of the output of Nauru phosphate, a most valuable manure, was available to the Dominion, but only about seven per cent w’as being taken. If the balance was not absorbed no doubt the manure would be diverted somewhere else On tlie motion of Mr. Smith “that it bo a recommendation to the din** tois to immediately malte- an investigation into the probable cost of erecting a crushing plant to grind Nauru phosphate, and if they find it reasonably possible, and they also find that such would result in a supply of the manure at a reasonable price, it is the opinion of this meeting thot it would be greatly to the advantage of the shareholders of this company if such a plant could be installed at an early The chairman, Mr. R. S. Chadwick, gave an assurance that an immediate investigation would be made. It was stated that in the coming season, owing to recent alterations, the company would be able to deal with approximately 5000 sheep and lambs per day and therefore shareholders should now be able to have their stock dealt with expeditiously and without The opening of the works for this season was discussed and it was unanimously resolved “that while we consider the directors should pay the employees the full award rates as prescribed by law and should treat them with fairness and every reasonable consideration, nevertheless it is in the interests of the . community that the productive capacity of the DonMnion should not be diminished or hindered and we recommend the directors to open the works immediately sufficient stock is offered and we pledge ourselves to do everything in our power to assist them if necessary to keep the works in operation.” , Votes of thanks were passed to the directors and staff and a very successful meeting terminated