THE GEAR MEAT COMPANY.

New Zealand Mail, Issue 930, 27 December 1889, Page 19

THE GEAR MEAT COMPANY.

At the ordinary general meeting of the shareholders of the Gear Meat Preserving Company, to be held in the Chamber ofCommerce on Friday, the 3rd of January, the following report of the Directors will he read: —“Your Directors have the pleasure to submit to you the balancesheet and profit and loss account for the year ended 30th November, 1890, which shows continued satisfactory results,

After making due allowance for depreciation, there remains a balance of L 9321 Gs, which your Directors recommend for appropriation as follows :—ln payment of a dividend on the paid-up capital of the company at the rate of 10 per cent, per annum "(of which an interim dividend for half-year ended 31st May, 1889, has already been paid), L 4600 ; to be carried forward to next year’s account, L 4720 65—L9320 6s. Reserve.—The reserve fund has been increased to L6OOO, and the insurance reserve to L 6822 12s lid, making together a total of L 12,822 12s lid. Mr James McKerrow having resigned his seat on the directorate during the year, Mr J. S. M. Thompson was appointed to fill the vacancy thus created. Under the articles of association three of your Directors (Messrs Anderson, Gear and Dr Newman) retire from office, but, being eligible, they offer themselves for reelection. The auditors (Messrs T. K. Macdonald and D. T. Stuart) also offer themselves for re-election. —N. Reid, chairman.” The profit and loss statement is as follows ; —Dr. —To landed properties, hulk, and jetty, L 13,764 4s 8d ; working plant and office furniture, L 920 2s 6d ; interests and discounts, L 2366 8s 7d ; salaries, Directors’ and Auditors’ fees, LIS2B 14s 9d ; office expenses, rates, taxes, &c., L 568 Os 2d—L19,247 10s 8d ; balance—To reserve fund, L 2500 ; interim dividend to 31st May, 2300 ; for present appropriation, L 7020 Gs—Lll,B2o 6s ; total, L 31,067 16s Bd. Cr. —By balance from 30th November, 1888, L 2031 19s 3d ; sales and manufactures, L 29,019 8s 5d ; transfer fees, Ll 6 9s ; total, L 31,067 16s Bd. In the list of assets the Company s property is valued as follows : —Freehold and leasehold properties, L 31,735 ; working plant. L 6939 18s ; hulk and refrigerating machinery, L 12,000 ; Pi tone jetty, L 1100; office furniture, L 135 ; total, L5i,909 18s. The paid up capital is L 46,000.