TEMUKA STORAGE COY.

Temuka Leader, Issue 7569, 23 May 1914, Page 7

TEMUKA STORAGE COY.

ANN uTk~M t GIXTKKN BKR CKNT. IIfviDKND. '.the annual meeting of the Temuka Murage Company was held in the oilier. of (lie S.C. I’anmus' Agency Co., Lid.. Teiunka, yesterday aflemoon. Mr Donald Grafit presided over a poor attendance i; doubtless due to the inclement weather. IiKI’OUT. Thi' annual report lead “‘The Birecloi's have pleasure in submitting I heir sixth annual report and balance sluGl. Tile nett profit for the year ending 2'th February, DM I, is .CBM Is 7d, which, with a, balance of 413(H) brought forward from (he previous year, leaves t-!-l -Is 7d. whicli it is proposed (u apporliou as follows: Write down I’lant Account by C - 2l) IDs D ! d ; write down Building Account by .fldll lis Dd i; payment of a dividend of If) per cenl. (bring S per cent, for pas)' Iw o years!, absorbing C 172 l!is, Iho balance of t! 13b :?s IPd lo lie earned lorwanl. It is also proposed lo ira.iisfcr T 1(111 Cs ‘.ld from Ihc Working Account at the Bank to Ihc end'd of .the Directors’ (biaraub'c Account., (him reducing (he latter lo CIIDD IPs. ltd. Messrs John Brown, David Shaw, jun., and W. (I. Aspinall retire by rotation, and offer themsei'vrs for re-election. The auditor, Mr W, B. If vans, is also available for re-election Donul»l (Irani, Chairuian ; Samuel McCully, Dinetor; A. C. Didst, Secretary. BA BANC If SIIKKT.

Tin? profit ;inil loss iicmimt to 28lh February, I',M l, rend : —To benzine account 157 3s Id, general expenses ,1519 7s 8(1, insurance ae.-ounl T7l 10s, rent) account T3(i, exchange is Od, interest 7■ t Os 7d, rates and taxes Til 13s Sd, labour contract, accounl T3DB (is Id, auditor’s fee To, depreciation account T2(5 8s 7d, balance profit from 28(h February, IDI3, CiIOII, balance nett profit for year TI2I -Is 7d ; total TI IT' IDs Od, By balance 28ih February, IDI3, ,15373 11s ‘.ld, written off plant account T 23 11k Dd, written off buildings account Tot), storages to 281 It Februarv, IDI I, L'S33 IDs 3d total CIKi. 0 . IDs 3d. The liabilities were shown as T2ii!>D 18s 3d, including : Share Capital--21(10 allotted, paid up to 10s per share TDISO; Bank of Australasia —Directors’ Guarantee Account CI3OD, ilcss ! working aeeotini in cred.il C 223 (is id ; ' res-rvc account T 10; prold and loss ] account t: 121 is 7d ; sundrv creditors To; total C2ii:io IDs 3d. The assets j included : Sundry debtors J-211 3s 2d, I building accounl T2IM) i's Dd (less depreciation full), plant account Tl3l lls 7d (less depreciation T 23 Its Dd), siding account T 2-17 17s U 1 (less depreciation T2d 8s 7d) : total ,C2;/v.) JBs 3d.

The chairman remarked that the profits were not so large as hist year, owing, to the faet that there had not been so much grain lying in the store. The coming season did not look very promising, as most of the grain seem-, ed to be passing in and out of the store Without remaining any time. He touched goner,ally upon the sound financial position of the Company, and jis ability to pay the 1«_ per cent, dividend (representing eight per. coni, over Iwo years), and moved the adoption of the report and balance sheet. The report and balance sheet were j adopted. diufctods. I The retiring Directors, ’Messrs -ToVm ! Brown, D. Shaw, jnn., and 11. G. As- ! pi nail were re-elected. A. motion to the ell eel- that the 1 1 rectors in future be remunerated, was ; lost. ■ I ATDITO 11. ’ _ | Mr IV. F. F.vans was re-appoinD’d auditor, and n fee of T 3 -s for the special audit in connection with the 1 ransf-r of Dm secretaryship, was agreed 10. A vote of thunks to Dm chairman terminated the meeting.