CANTERBURY FROZEN MEAT COMPANY.

Otago Witness, Issue 2809, 15 January 1908, Page 9

CANTERBURY FROZEN MEAT COMPANY.

ANNUAL MEETING. CHRTSTOHUROH. January 8. The annual meeting of the Canterbury Frozen Meat Company was held at the Chamber of Commerce this afternoon, when Sir Geo. Clifford (chairman of directors) presided. Th« directors' annual report stated that the net profit for the year was £20.580 6s. and that sum after adding the amount carried forward from last year and deducting the interim dividend paid, and writing £5000 off tho works account, left £15,728 7s lOd, which the directors proposed should be dealt with as follows : — To payment of a further 3 per cent, on the preference shares (making- 6 per cent, for the year), £2250; to payment of a further 4 per cent, on the ordinary shares (making 8 per cent, for the year), £4349 2g; to transfer to accident insurance fund account, raising this account to £2000, £556 16s 4cl ; to transfer to reserve fund account, £8000; to carry forward, £572 9s 6d; — total, £15,728 7s lOd. The quantities of stock dealt with at the company's works were ; — At Belfast, 513>970 head ; at Fairfield, 373,306 bead ; at Pareora, 282,073 head ;— total, 1,169,349 head, being an 'increase of 112,013 over the figures 61 last year. 1 The balance sheet showed a balance of £223,012 16s 7d of assets over liabilities, the property or the* company being valued at £327,554 12s ~sd and the- liabilities totalling ■ £104,541 15s lOd. ■ -' i The profit and loss statement showed that

the receipts for the year had amounted to £40,963 Os 3d, made up of £574-7 -3s lOdlast year's balance, £34,212 13s lid balance of freezing, etc., accounts after deducting wages and £3 2s 6d transfer fees. The expend.ture had been £25,234 I2s sd> which included £5575 0s 6d general expenses, £5911 Is interest and insurances, £2149 8s lid rates and taxes, £5000 amount written off works, and £6599 2s „ dividend paid at half year, the credit balance being £15,728 7s dOd. The Chairman, in moving the adoption . of the report and balance sheet, referred to the operations of the company during the past year, 'and pointed out that whil« 27,533 more lambs had been shippeS than in the proceeding year, the weight on which ~ payment was reoeived was- 227,8911b less. The disastrous fire at . Belfast dieorganised the operations of the company for a ' time 1 , and the strike of the slaughtermen war another evil which proved a temporarj embarrasment.