Otautau Saleyards Company

Otautau Standard and Wallace County Chronicle, Volume VII, Issue 361, 9 April 1912, Page 5

Otautau Saleyards Company

The annual meeting of the Otautau Saleyards Company .will be held on Thursday, 11th inst., when the following report of the year's work will be presented :— Tho Directors have pleasure m reporting another year's good work, and that they are able to place before shareholders a satisfactory statement.

Considerable worka of an important nature were carried out during the year at a cost of £63 18s lOd. The yards have been increased, and will now meet all likely demands for some time.

Yard dues, which hare steadily increased for some years, again show an upward tendency, the receipts from this source being £167183 lOd, as against £160 lis 5d last year.

The total receipts 'for the year amounted to £173 19s lOd, and the expenses £107 lis 4d, leaviDg a profit of £67 18s lOd. From tnis, however, the Directors think it expedient to wipe off £46 15s lOd as depreciation, as a good part of the yards have been erected for a considerable time. This leaves a net profit of £19 12 s Bd, which, added to last year's balance of £199, makes £218 17s 8d standing at the credit of Profit and Loss Account at this date.

Aa the yards are now m good order, and there is such a sum at credit of Paofit and Loss Account, the directors recommend a dividend of i_ per cent, on the paid-up capital of the company. It will be necessary to elect two directors m place of Messrs W. Walker and T. W. Kennedy, who retire, and are eligible for reelection, Nominations for position of directors to be m the hands of the secretary seven clear days before the annual meeting. It will be necessary to elect au auditor.