COMMERCIAL.

Otago Daily Times, Issue 15063, 9 February 1911, Page 6

COMMERCIAL.

SOUTHLAND FROZEN MEAT

COMPANY.

In presenting tho twenty-ninth annual report to shareholders tho directors of the Southland Frozen Meat and Produce Exjiort Company say the net profit for tho vcar, after writing off £6057 for depreciation, is £15,044 2s Ed,' and this, together with the amount brought forward from the previous year, leaves £21,748 2s 5d to be dealt with, which tho directors projio-o to allocate as follows:—To payment of a 5 per cent, dividend and 3 nor cent, bonus on A and- B shares, £3641 7s 3d; to transfer to insurance reserve, £2000; to transfer to accident insurance reserve, £2030; to transfer to rosorva account, £2000; and to carry forward the balance, £12,106 15s 2d ;— total, £21,748 2s sd. Considerable additions and improvements have been effected lo buildings and plant at the various works during the season. The erection of tho new Makarewa. works is being pushed on as rapidly as circumstances will admit The retiring directors at this time will bo Messrs Cowan and (iilkison, who again offer their services to tho shareholders. It will 1)3 necessary for tho shareholders to appoint an auditor, and Mr R. F. Cutbbertson oilers himself for rc-elcotion.