CANTERBURY SALEYARDS COMPANY.

Lyttelton Times, Volume XCVII, Issue 11189, 10 February 1897, Page 3

CANTERBURY SALEYARDS COMPANY.

The twenty-third annual meeting of the Canterbury Saieyards Company, Limited, was held at the Grain Agency Buildings at 2.30 p.m. yesterday. A quorum of share? holders was present, and Mr W. Henderson, chairman of directors, presided. The report of the Directors congratulated the shareholders on the fact that the company was maintaining an improved position, also showing that the Metropolitan Market, situated as it is, supplied the necessary requirements of the district. The yards had been kept in an efficient condition by repairs and improvements, and such were still going on to make more accommodation for store sheep and drafting yards. Part of the stables required, and would receive, repairs during the next half-year. It had been thought advisable to write off to dilapidation account £?SO, in addition to which .£650 was held on deposit at interest, and as this sum was part of former writings down of buildings, the Directors proposed, with the shareholders’ sanction, to allocate this .£'6so to the Reserve Fund; This could only bo effected by. writing up the buildings again, and taking the amount direct to Dilapidation Fund, which fund would then stand at .£2500. The profit and loss statement, after providing for the above and an interim dividend of 5 per cent, left a balance of £702 8s 9d to be dealt with, which was recommended to be appropriated as followsTo payment of a dividend of 4; per cent on the paid-up capital, making a total dividend for the year of 9 per cent, .£510; to, reserve for new work, £230; to carry forward to new account, £52 8s 9d. The stock passed through the yards showed a slight improvement all round. The following were the totals yarded 547,263 sheep, 23,879 pigs, 20,367 cattle. The balance-sheet, audited by Mr A. Morton Ollivier, showed that the assets on capital account amounted to =214,11114s 8d and that there was a balance from profit and loss of £792 8s 9d. The receipts had been £2708 14s 9d, and the expenditure £1316 Iss Id, leaving a credit balance of £1391 19s Bd. The Chairman, in moving the adoption of

the report and balance-sheet, said that the last year had been the most successful the company had had for some time. He was not sure, however, that they would have as good a year next thne. In consequence of complaints as to the want of accommodation at the yards, the Directors had considerably improved them, and yet more work would be done in that direction. Mr T. Eowe seconded the motion for the adoption of the report and balance-sheet, and it was carried unanimously. Mr W. Thomson proposed and Mr H. Forwood seconded —“ That the sum of .£650 now on deposit at interest, be placed to the credit of the dilapidation account, making it .£2500.” The . motion was carried unanimously. Messrs W. Henderson and P. Westenra were re-relected directors, and Mr A. Morton Ollivier was re-elected auditor. Mr Staveley remarked that he hardly agreed with the Chairman as to the prospects for next year, which he thought promising. A vote of thanks .was passed to the Chairman and Directors and the meeting closed.. ■At a meeting of Directors held subsequently, Mr W. Henderson was re-elected chairman of directors.