SHAW, SAVILL, AND ALBION COMPANY.

Otago Witness, Issue 1891, 1 May 1890, Page 18

SHAW, SAVILL, AND ALBION COMPANY.

The following is the report submitted by the directors of the Shaw, Savill, and Albion Company at theseventh annual meeting of shareholders, held at the .company's offices, Leadenhall street, London, on 6th MarOh : —

"The directors have the pleasure of submitting: herewith to the shareholders the accounts for the past year, showing an available profit of £70,861 9s sd. Looking to the extent and peouliar character of the refrigerating plant and machinery in the vessels of the company, the directors deem it prudent to advise that an additional sum of £25,000 should be appropriated to depreciation. They therefore propose that the abovenamed sum of £25,000 should be. availed of for additional appreciation, and that a dividend of 10 per cent, be declared for the past year. Of this 2§ per cent, has already been paid as an interim dividend in September last, leaving 7$- per cent, to be ndw distributed. The sum thuß absorbed will be £64,076, leaving £6789 9s 5d to be carried forward. The suspense account has this year been reduced by £1000, which sum has been dealt with in accordance with the articles of association. The directors are of opinion that this account should now be closed. At the last meeting the' shareholders were informed that a cargo steamer, then building, had bten purchased forthe frozen meat trade. But the trade has developed to such an extent as to necessitate the purchase of two other new cargo steamers ; these vessels, which have recently sailed for the colony, are both fitted with refrigerators to> carry large quantities of frozen meat. There has been no accident of importance to any et the company's vessels during the year. In accordance with the articles of association, the Eight Hon. C. T. Bltohle, M.P., and Mr Kd ward Pembroke retire from, office as director*. Ther[are eligible and offer themselves for re-election. The auditors for 1890 have to be appointed by the meeting. Messrs Turquand, Youngs, Woise, Bishop, and Olarke offer themselves, for re-election."