NEW ZEALAND STUD AND PEDIGREE STOCK COMPANY.

New Zealand Herald, Volume XXVI, Issue 9325, 30 March 1889, Page 6

NEW ZEALAND STUD AND PEDIGREE STOCK COMPANY.

Tun annual meeting of this company was to have been held at the company's office, Shortland-street, yesterday, but there being no quorum of shareholders tho meeting lapsed. Tho directors' report is as follows :—

We have met here to-day for tho purpose of receiving the annual report and balancesheet of this company's operations for tho past year. 1 feel it my nainful duty to mention the death of Major Walmsley, who passod away after a short illness, contracted whilst carrying out the supervision of a shipment of horses sent to Calcutta by yoar directors. Major Walmsley was so well and favourably known to all of us, that it makes it unnecessary for me to dwell on a matter which must of necessity be of a very painful nature. Mr. Thomas Stephens ho,* since boon appointed manager, and from his reports your directors are pleased to bo able to inform you that the company's property under his charge is in thorough working and good order. Your directors, after collecting all available information with reference to shipping of horses to India, decided on forwarding a shipment, which was dene in August of last year. Your directors regret to inform you that the venture proved unsuccessful from various causes, the principal of which was the very much overstocked state of tho market, fully twice as many horses being shipped to the Indian market as in former years. From information rooeived by your directors, we havo the satis/action of knowing our shipment compared more than favourably with any other shipment of the season, arid this was in a great measure duo to the untiring efforts of Major Walmsley and Mr. Geoffrey Maclean. Apart from the loss sustained on tho shipment of horses to the Indian market, the Profit and Loss Account shows a loss caused by death and a revaluation of the stock. The Working Account itself shows a small profit. Our last annual sale must bo considered to have been highly satisfactory, when we take into consideration tho yearlings offered for sale consisted principally of the progeny of untried stallions. The shareholder':-! may reasonably look for bettor results from tho coming year, owing to the increased number of yearlings to bo offered, and the fact of Nordenfeldt s and St. Lcgor's progeny racing before next annual sale. Tho business now before the meeting is the adoption of the balance-sheet and report, election of three directors in the place of Messrs. J. M. Clark, Every Maclean, and T. (J. Williamson, who retire in accordance with the articles of association of the company by effluxion of time, but who are eligible and oiler themselves agvin for re-election; and the election of an auditor in the place of Mr. John Milne, who retires in terms of articles of company, and again offers himself for election. By order of tho Board.— Moiirin, Chairman.