WANGANUI MEAT FREEZING CO.

Wanganui Chronicle, Volume L, Issue 12587, 17 August 1910, Page 3

WANGANUI MEAT FREEZING CO.

.TWENTIETH ANNUAL REPORT.

PROFIT OF £12,721

Following is Ihe report to be submitted at the annual meeting of shareholders to bo held on Wednesday, 7th September: — In presenting their twentieth annual report your directors congratulate shareholders" on tho satisfactory results or the year's operations. The not profit for tho year ending 31st July amounts to £12,721 Is 3d. After replacing last year's deficit or £6,824 los 7d to profit and loss account, £5,896 5s 8d remains to be dealt with.

Tho directors recommend the following appropriation;— Pay a dividend ot o per cent por annum on paid up capital, absorbing £2,30S 9s lOd, _ make necessary provision for depreciation, and carry forward the balance.

Thfl policy of the directors has always been in the direction of providing out of the profits for very efficiently main-t.-.'ining the buildings, plant, and machinery in the best of order, and keeping them up-to-date. The new freez-" ing machine- and' manure conveyor, lately installed, have given every satisfaction.

The demands of the company's bustness have necessitated an increase of freezing and storage accommodation. Your directors are pleased to inform .you that they have accepted tenders for providing the necessary addition, which, whan finished, will provide increased •storage for quite 15,000 sheep. This ■will bo ready for next season. The retiring directors, Messrs Alfred Burnett and J. B. Murray are.re-elect-ed, there being no other nominations. You are called upon to elect two arditors, Messrs William Hall. Chas. F.iorns. Selby Morton, and Edward Martall Silk being nominated. A voting paper is enclosed with the report and balance-sheet, and can bo returned addresser! to the chairman or other officer of the Comnnny, not later than Oth September. 1910. E. A. CAMPBELL. Chairman.