UNKNOWN

Waikato Times, Volume 87, Issue 13274, 1 September 1916, Page 6

UNKNOWN

6. Tae following report will bo prer^ H .. senU'il at the annual meeting of nhare-r holders of the Auckland farmers' i*' Freezing Company on September 28: — ' Your directors have pleasure in prei senting the 121 li annual report and * balance-sheet. The agreements entered into last year between your company t- and the provisional directors oi the gv; Waikato Freezing Company and the % ' dairy companies of the Auckland province have been carried out, the result , • being a large addition to the numbt r of farmer shareholders in the company. The company's future success, therefore, depends upon the farmer shareholders' loyalty to the spirit of cooperation. Owing to the possibility of shipping difficulties continuing for some \ r lime to come, your directors deemed it necessary to increase the storage space at Southdown and Horotiu to the capacity of the freezing power. This work will be completed before the commencement of the new season, making the storage capacity at Southdown \ „ 120,000 601b carcases, and 115.000 GUlb carcases-at Horotiu. During the year your directors considered the question of insurance against loss to the company's clients through slock being condemned by the Government Inspector en account of disease, and a scheme was adopted by which the company ,? pays'one-half of the insurance fees and the clients the The numI" of stock the company since it commenced operations are: — ft nil,"calves nil,, cattle 107: 19Qr>-6 36,647, 628, nil, nil/ 1672; 1906-7. ■ 50 ? 520 2182, nil, nil, 6345; 1007-8, B. 50,802, 1271, 5101, nil, 4507. 1908-9, W 84,471, 7400, 1110, nil, 2505: 1919U 10, 60,073, 829 i, 927, nil, 8904: 1910f 11, 60,117, 740,.1-872, nit, 1881: 191112,"08,095, 6501f94, nil, 898; 1912-13, | 84,194, 22,509, 69, 950, 5597: 191344, 87,006, 24,671, nil, 3123, 10.888: t* >.1914-15, 117,131, 95;842, nil, 1496, . * |H 7ii082, 47,611. The number of cattle »killed shows a very large increase over any previous year. Sheep and lambs j 1 show a reduction compared with last season, although well ahead of previous yehrs. Had there been no shortage of &' v steamer space, the season's liguivs Would, have been still greater. The / ' •butter frozen, namely 517,921 boxes, v shows a very satisfactory increase over last'season's total, which was 455,42* boxes. The quantity of cheese handled <. % during the year shows a remarkable " ' increase, a total 0f'68,243 crates being 1 »put through the works, as against 20,- # 379 crates dfiriug the previous year. . : a*b increase of 47,864. The profit for r• 4he- yea?, after providing for deprecia.tion, is £f4,842 15s sd, to Which is t.. be added the suiij of £2596 9s lOd, brought forvVard from last year, niakW a t°t»i a^ / 1dt,439 5s 3d, with !f directors propose to deal '-^is'follows: 'To pay a~U;vdend of 8 per ■/ 00; to add to reserve fund, - £9000; the balance to be carrk-! forEi .ward. The directors to retire by rot,:- . 'ti,o'n are Mes&s Joseph Barugh and H. ■ y'E. Worsp. Both have been nominal'-d f° r re-electkin and, as there are 110 ■ other -nominations, they have been duly [£. > elected. ' The profit and loss account for the |. year ending 36th June, 1916, is as fol--I'lows: —To general expenses, printing, postages, .'salaries and directors' fees, £1.1,060 14s sd; rates, taxes and interest, £11,125 lis Id; had debts, £4l Is 8d; ba^tnee —amount brought forjMfsrd, £25.66 9s 10d;.profit for the year, x.14',342 15s s'd; total, £39,866 12s sd. i(y balance brought forward, £2596 9s 40d; transfer fees, £4 17s 6d: working .profits for the year after providing for depreciation, £37,26."> 5s Id; total, £39,866 128-sd. .