GISBORNE SHEEPFARMERS' CO.

Poverty Bay Herald, Volume XXXIX, Issue 12905, 28 October 1912, Page 2

GISBORNE SHEEPFARMERS' CO.

The following is the directors' report to bo submitted' to the 'annual meeting of the Gisborne Sheepfarmers' Frozen Meat -Co.,' Ltd., 1 on November 30:—*- ■'■ The stock for the year Arere : Sheep 193,321, Limbs j 76,430, cattle' 5342; calves 10. Concessions have been] allowed off normal charges ' ' to clients' upon the 'years' working -to the value of £2417 14s. Inclusive of the sum of £550 ; 2s Ild, balance brought forward from last year, the sum of £16,864 7s 7d is available: for disposal.

Equalisation of distribution of profits £2500. repairs or maintenance of plant, buildings and machinery, or other works £2000. depreciation on machinery and plant £3426 6s, leasehold sinking fund (Harbor Board lease) £700. leasehold sinking funds (sundry leases) £ZCO, accident reserve fund £500, dividends on original and bonus shares at 6 per cent. £2505 16s 9d, balance carried forward £1028 15s 'lOd; -"surplus annual profits £3906 9s, total £16,864 7s 7d. Apportionment of surplus annual profits : Shareholders 3d per head on stock supplied. £1497 10s 9d, bona-fide farmers not shareholders 3d per head on stock .supplied £361 95.." buyers from shareholders 2d per head on stock ' sup- ! plied £743 16s 2d. shareholders on sales made to buyers supplying stock 2d per head £787 Os 4d, buyers 'from nonshareholders 3d per head on stock supplied £516 12s 9d r total £3906 9s. The directors to retire are Messrs F. B. Barker, John Clark, and Howard Kenway, who all offer themselves for re-election. Any shareholder who desires to be nominated as a director' (other than the directors above, who retire by rotation), or ■\o nominate any other shareholder, must send m the nomination paper to the general manager, at Gisborne. on or before the 15th day of November. 1912, otherwise such nominnition cannot be accepted at the annual meeting. The auditors, Mr T. A. Coleman and Messrs . Watkins, Hull and Wheeler, retire. In .consequence of article 149 the retiring iauditbts cannot hold office together for the ne*t succeeding year. By arrangement. ' therefore;' Messrs Watkins, Hull 9-nd '"Wheeler will not, at present. . .seek re-,elect,ion, Mr T A. Coleman is 'eligible and offers himself for. ne-electioiv jtwd-'Mr A. fi. Riss, accountant, of W e lli n ßt° n .. - ia Yl ing consented to act., will be nominated m" the plac,e Of Messrs -Watkins. Hull and Wheeler.* ■" ~* ■ f ■■'■ " . .. " , '<■>