WANGANUT MEAT FREEZING COMPANY.

Wanganui Chronicle, Volume XXXVI, Issue 11611, 13 August 1892, Page 3

WANGANUT MEAT FREEZING COMPANY.

THE SECOND ANNUAL REPORT. The second annual report of the above Company, to be presented at tho annual meeting of shareholders on^ the 24th mat., has been issued. Aa this is euro to be of considerable interest to a large number of our readers we publish it in full without any dely . It runs as follow? ■. — " In prePenting their second annual report for the year ending July 31st, 1892, your Directors would point-out that the. first annual statement embraced the result of only six weeks working, so- that the piesent balance-sheet is really a statement of receipts and expenditure for the first year's operations. After paying all working expenses there remains a credit balance of £1286 10s, out of which £1026 7s lOd has been taken to pay interest on the Bank overdraft. The balance, J5259 2s 2d, will go to reduce the balance at profit and loss, which now stands at £331 4s lid after writing off the whole of tho preliminary expenses in connection with . the formation of the Company. The -' quantity of stock frozen in the works for the year represents equal to 60,718 Hieep During the year a complete manure plant has been erected at the works bo that the offal is now utilised to profitable account. The machinery is all in first class working order, and the works and- plant aro complete with all tho latest labour Eaving improvements. The works have been pronounced by those who aro in a position to give an opinion as one of the most complete in the colony. When tho last call is collected, due in October, the debt on the whole of the plant and works will be something under JMOOO The loading operations in the roadstead .have been conducted most successfully, a result which your Directors feel is largely due to the courteous and untiring assistance rendered at all times by the present Harbourmaster and Pilot, Captain Irvine, and they feel that not only is the Company under deep obligation to him, but the community at largo for the successful inauguration of direct trade to London from this port. With the knowledge and experience, gained from the result of the present year's working your Directcrs are pleaded to bo in a position to say that the coming year's operations can be conducted at a considerable paving in labour and other expenses. 1 n order to keep their works occupied mvny companics throughout New Zealand have - been compelled to purchase and freezestock on their own account, a result which is attended with considerable risk and possible loss. The shareholders will be gratified to know that your Directors have not undertaken any business of this character. The whole of the stock frozen at the works have been on owner's account. Messrs Henry Cornfoot, John Stevenson, and E. A. Campbell are the retiring Directors, but being eligible they offer themselves for re-election. Ton are also called upon to elect two Auditors for the ensuing year. Mes3rs James Duigan and Lloyd Jones are the retiring Auditors and offer themselves for re-election. — E. A. Cahpbbll, Chairman."