CANTERBURY MEAT EXPORT COMPANY (LIMITED).

Lyttelton Times, Volume XXXVIII, Issue 3684, 9 November 1872, Page 2

CANTERBURY MEAT EXPORT COM—PANY (LIMITED).

The adjourned annual general meeting was held at 10 a.m. yesterday; Mr R. H. Rhodes in the chair.

The following report was read « The directors have to present to the shareholders their fifth report, for the year ending 30th September, 1872. " The directors have much pleasure in being able to inform the shareholders that the improvements and suggested alterations having been successfully carried out, the works are now in a thorough state of efficiency, as evidenced by the result of the past short season—a period of four and a-half months only —from the latter part of January, to the 12th June last, when the balance at debit was considerably reduced, notwithstanding that concessions to no small extent have been made to the convertors of sheep, by delivering the preserved meats free in Lyttelton, and other amounts being charged which are exceptional. “The following statistics of the season’s operations are supplied by the information of shareholders. “ Number of sheep killed, 41,640. “ Number of cattle killed, 99. “ Number of sheep preserved, 29,885 : producing 495,6731b5. nett, tinned meat.

“ Number of cattle preserved, only 99 ; producing 31,7211bs nett, tinned meat. “ Total tallow from sheep, 322,1681b5. “ Total tallow from cattle, 15,9331b5. “ Average weight of sheep preserved, 401bs Bozs ; yield of meat, 161bs 9ozs ; of tallow, dibs 4ozs.

“ Average weight of sheep boiled, Mbs 2ozs ; yield of tallow, 21bs. “ Average weight of cattle preserved, 7801bs ; yield of meat, 335£Ibs ; of tallow, ISllbs.

“ The total yield of meat and tallow amounted to 341 tons 14cwt Iqr 191bs nett. “ The improved prospects in England for the sale of preserved meats is highly satisfactory ; and while congratulating the shareholders thereon, the directors wish to express their full confidence in the ability of the company to produce the most favourable results, provided the shareholders will support them thoroughly by making engagementsforthe conversion of stock and by forwarding stock of such quality as will ensure satisfaction to the convertors and credit for the company—two conditions which, had it been possible in all oases to have fulfilled during the past season, would hare resulted in a much more favourable balance sheet.

“ The Directors have not thought it advisable to write oil any depreciation on Buildings and Plant this year. In May last year a large amount (£365 13s 3d) was written off these accounts, and taking the enhanced value of building materials into consideration, together with the outlay made .during the past year, it may be fairly asserted that the amounts at debit of these accounts represent rather under than over their present value. “ Messrs J. Studholme, J. Inglia, and E. Wilkin, retire from the Directory by rotation, but being eligible offer themselves for reelection.

“Shareholders are reminded that proxies must be deposited at the offices of the company, on or before Tuesday, November 5. “E. H. Rhodes, Chairman.”

The statement of profit and loss was submitted, and the balance-sheet showed liabilities £12,305, and assets, £11,630 16s sd. The report and balance-sheet were adopted. Messrs J. Studholme, J. Inglis, and E. Wilkin, were re-elected directors. Mr J. D. Macpherson was re-elected auditor. The meeting then adjourned. We have, been requested to state that scrip is ready for distribution to shareholders.