GEAR MEAT COMPANY

Timaru Herald, Volume CXXXVIII, Issue 19985, 18 December 1934, Page 16

GEAR MEAT COMPANY

ANNUAL MEETING By Telegraph—Press Association WELLINGTON. December 17. The annual meeting of the Gear Meat Company was presided over by Mr Allan Strang. He explained that the balance-sheet was in somewhat different form to that of previous years to comply with the terms of the new Companies Act, and also the Supreme Court order confirming the reduction of the capital of the company to £230,000. The balance-sheet clearly showed that there was an additional reserve over the balance-sheet figures amounting to £59.294 this the difference between the figure £30.391 shown in the balance-sheet and the par value of this Government stock which was £89.685. It was his intention before vacating the chair at the next meeting of directors in January to move that this stock be written up to the par value and the difference transferred to the reserve. The bulk of the company’s meat went to London and Its stocks there to-day would oe easily sold out before new season's shipments of any size were on the market. The properties and plant were in good order and everything was in readiness for the season, which was very much later in starting. The motion for the adoption of the report and balance-sheet was seconded by the Rt. Hon. Sir Francis Bell. The retiring directors. Sir Harold Beauchamp. Messrs R. W. Gibbs and H. S. Riddiford were unanimously reelected. as were the auditors. Messrs E. W. Hunt and E. R. Dymock.