CANTERBURY SALEYARDS COMPANY.

Lyttelton Times, Volume LXVII, Issue 8089, 9 February 1887, Page 3

CANTERBURY SALEYARDS COMPANY.

The thirteenth annual meeting of the Canterbury Saleyards Company, Limited, was held at the office of the Company, in the Grain Agency Buildings, yesterday evening. There was a good attendance, and Mr W. Henderson, Chairman of Directors, presided. Mr W. H. Wynn-Williams, Solicitor to the Company, was also present. DIBECTOES’ EEPOET. The Directors submitted the following report "Your Directors, in submitting the annual report, are sorry to show a el'ght falling off in the profits of last year, but considering the low price of stock it is scarcely to be wondered at. The number of sheep and cattle passed through the yards in 1886, as compared with 1885, is 19,589 sheep and 909 cattle less; but there has been an increase in pigs, during the same period, of 1117. The accounts, duly audited, are laid upon the table, copies of which have been sent to each shareholder. It will be seen that the profit of the past year is ,£1364 9s Bd, of which £591 19s lOd have been paid in dividends, leaving a present balance to the credit of profit and doss of £772 9s lOd, and your Directors recommend that a dividend of 6 per cent for the past half-year on the £12,250 paidup capital (making 11 per cent for the year) be declared, leaving a balance of £37 9s lOd to be carried forward to the credit of profit and loss new account. Your Directors have had new scrip prepared, so that any shareholder, who may wish it, can have one scrip for any number of fully paid up shares, and one scrip for any number of new shares he may hold, by paying the fee and sending the old scrip to the office to be cancelled. Your Directors recommend that a uniform fee of 2s 6d be charged for each transfer, irrespective of the number of shares held by each shareholder. Since the last annual meeting of shareholders, the Company has sustained a great loss in the death of the late Mr Eobert Wilkin, one of your Directors, who had always taken a great interest in the welfare of the Company from its formation, he having been one of its chief promoters. You will to-day have to elect a shareholder to fill his place for the two years he would have been in office. Also to elect thi’ee Directors in the place of Messrs John Deans, Samuel Garforth, and John Ferguson, who retire by rotation, but who are all eligible for re-election.” The Chairman moved the adoption of the report and balance-sheet. He said that had the Directors made a call, they might have been able to pay a larger dividend, but he thought that the shareholders would agree that it was better to divide what they had in hand. (Hear, hear.) One thing which had tended to decrease the number of sheep passed through the yards had been the lice scare. Still, °that had done good by making farmers look more closely after their sheep. The breeding of cattle was a thing which he thought should receive serious attention, or next season would see a repetition of what had been witnessed this year —a large importation of stock from other places. The land of Canterbury was suited for the rearing of all classes of stock, and there was no reason why people here should be dependent on outside supplies. He regretted exceedingly the loss the Company had sustained through the death of Mr Eobert Wilkin, a gentleman whose place it would not be easy to fill. He might say that it was not necessary that there should be a very large amount of expenditure during the coming year on the yards, which were in good condition. Mr Wynn-Williams seconded the motion for the adoption of the report. Mr J. T. Matson suggested that a alight alteration should be made in the figures of the balance-sheet, so that the depreciation of the property by wear and tear might be shown. The Chairman said that the Directors would probably make the alteration in next balance-sheet. The motion was then put and carried. ELECTIONS.

The meeting proceeded to the election of Directors.

Mr Matson urged that it was preferable to elect stock-breeders as Directors instead of either auctioneers or dealers. The Hon Ernest Gray was elected as Director in the room of the late Mr Robert Wilkin. Messrs F. C. Murray, J. Deans and J. Gebbie were elected to fill the ordinary vacancies on the Board of Directors. Mr F. Waymouth was elected Auditor for the ensuing year. mode op conducting sales.

Mr J. T, Matson moved—" That it be a

recommendation to the incoming Directors to take into immediate consideration' the present ( mode of .conducting sales at Addington, especially in regard to the private sales of fat cattle.” He considered that the present mode of allowing fat cattle to he sold privately in the morning, and even in the early afternoon, was highly prejudicial to the welfare of those most concerned—the owners. He would point out how this was so. A man who sent his cattle to an agent, with instructions to have them sold by auction, was often a sufferer to the extent of ill or £2 a head because, when the fat cattle sales came on, the requirements of buyers had been satisfied through the private sales which had taken place earlier in the day. He was not speaking of this from the auctioneers’ point of view, but ih order to prevent loss to the owners of stock. It became a question whether the yards should be devoted to the sale of stock by auction, or thrown open as a kind of stock fair. If the latter, then those occupying the position of stock salesmen or agents would have to take their own course. If stock were to be sold so that producers could not get the value which they ought to receive, salesmen would have to take their own course. He was convinced that unless something was done to remedy the evil the effect on the value of the shares would be something disastrous. (Hear, hear.) Mr Hurst seconded the motion, which was carried with only three dissentients. VOTES OP THANKS. On the motion of Mr J. T. Ford, seconded by Mr Eighton, a vote of thanks was passed to the retiring Directors. A vote of thanks was also passed to Mr P. Cunningham for granting the use of the room. A similar compliment to the Chairman terminated the meeting. ELECTION OP CHAIRMAN. A meeting of Directors was held after the general meeting, and Mr W. Henderson was re-elected Chairman. TEE CROPS. CHERTS EY. In my last letter I spoke well of the prospects of our farmers, and since then all has gone right with the harvest. Since my last the reapers and binders have been hard at work almost without interruption. Of course I do not include Sunday, although it has also been pressed into the service. ■ Time is of course precious at this juncture, and farmers will adhere to the old saw, “Make hay while the sunshines.” So far as appearance goes, at the time of my' writing this the sky looks rather gloomy and overcast, but we must just hope that it may keep up a week or two longer. Very many of the paddocks already show the amoont of harvest work that can be got through within a very limited space of time. They are to be witnessed dotted with stocks all over the district. To judge from appearances it is quite clear that there will be an abundant yield. Not much damage has been done by the late insignificant rainfalls. The portions cut have been a little discoloured, that is all. What has been stacked is in prime condition. Two or three days ago we were visited by a few hours’ windy weather, which must have damaged some of the crops standing; fortunately, however, the main portion of the crops had been cut ere “ Boreas ” began to blow. Threshing is going on space just now. Oats and bailey are threshing out well, and wheat is well up to the average. The farmers consequently are hopeful of good returns, provided that good prices be obtained this season for grain. OXFORD. The farmers in this district are getting on very well with their harvesting. Towards Carleton the most of the crop is already in stouk. On Ellis Flat and around East Oxford they are scarcely so forward j the north-west wind has shaken ont a good deal of the.grain in this part. Towards View Hill the farmers are all busy harvesting. Owing to the rain falling while the north-west wind was blowing so hard, the grain did not suffer nearly so much, as the wet kept it soft, and prevented it from being shaken out. The crops are so far being stacked in splendid condition, but if the present moist weather continues it will have the effect of discolouring the sample. WAIMATE. Since penning my last notes we have had a combination of changeable elements, and anything but what may be termed harvest weather. On Thursday last heavy showers of rain fell throughout the day. On Saturday we had a very stiff nor’wester, which did great havoc to the standing grain; in many cases the damage sustained will amount to a large sum, and the crops, particularly in the Waihao district, have suffered terribly. This unwelcome visit is all the more unfortunate when it is considered that the dryness of the season had already lessened the farmers’ anticipated return; and adding to the present circumstance the numerous etceteras with which our agriculturists have to contend, their lot is far from being a happy one. The nor’-wester also did considerable damage to the fruit trees, and their burden was very much lightened thereby, much to the regret, it is needless to say, of numerous fruit-growers, who had, previous to the gale, just reasons for complaint at the light crops, but which will be very, very light now. On Sunday rain fell at intervals from noon until G p.m., and at about 12.30 on the day mentioned we had a heavy fall of hailstones, which, fortunately, only lasted for two or three minutes. The rain was much required for the root crops, and they will, no doubt, benefit by it. The weather on Monday and to-day is more of a settled kind, and favourable for harvest work, which .is once more being pushed forward with great activity. Glowing accounts reach me of the probable yields In the Hakateramea district, at which place the machines are also busily employed doing the necessary work. AMBEELEY, After a few days of threatening rain, on Thursday afternoon a heavy shower was experienced. On the next day the wind changed to the north-west, and on Saturday morning, after a light shower, with a southerly breeze, got back to the first quarter, and an old-fashioned nor’-wester blew in full force, which lasted until Sunday evening, when a gradual change took place; The only damage done has been to the apple and pear crops. These have suffered very considerably. The cereals, having fallen before the reaper, escaped the injury which they would otherwise have experienced, but it effectually put a stop to all harvest work. Yesterday the thresher resumed its sway, and the account of the results are good. Last night there were heavy showers, which continued at intervals until about eight this morning, leaving the roads with the appearance of water-carts having faithfully carried out their work. This downfall will help to push the turnip end mangold, and it has certainly given the brown-looking appearance of the grass a greener hue.