HomeMy WebLinkAbout2000-00649The Bar X Cattle Co., Limited
Room 6, Quebec Bank Chambers, Toronto St,,
Toronto, Ont.
THE BAR X CATTLE CO., LIMITED
ROOM 6, QUEBEC BANK CHAMBERS
HON. JOHN DRYDEN, President
W. E. WELLINGTON, Vice -President
ToRoxTo,. Februy_..6th,..... 1905 .._
Dear Sii,:
Enclosed Please find fiancial statement, for the year ending
December 31st, 1001, and notice calling the Annual Meeting,
I also enclose form of Proxy, which, if you do not expect to
be in attendance at tI:e Annual Meeting, acid desire to do so, you can
sign and return to the Secretary as early as convenient.
You will be glad to know that the Company's circumstances are
to -day superior to what they have ever been previously. We now have a
definite location of nearly one hnndred thousand acres in extent on
Indian Reserve lands,which We lease from the Government at Washington,
This territory has been fenced in under the terms of the lease, so
that there will be no difficulty in controlling our cattle.
Owing largely to the change of location, our expenses during
the past year have been exceptionally heavy. It has been like starting
over again. A sale of the real estate, which was taken over at the
time the Co.rpany was organized, and paid for largely in stock, was put
through, and although it was done at considerable loss, will.we thins:,
In the io l '. _;' : be an advantage, as It wa-' a continual item of expense
for taxes and in other ways. Besides this, we have written off con-
siderable sums for loss and depreciation in our other assets, includ-
ing loss of cattle, following the plan of deducting so much each year
whether it occurs or not, so that the average over a number of years
may be about correct. No losses have been reported so far this winter
by our Manager.
During the year our Manager, Senator t»ontgomery retired, and
in his place we apaointed a young Scotsman, named Marshall, who had
for some time been in the Company's employ at the ranch, and has re-
ceived his training in the Canadian North-West. He is an energetic
and trustworthy young man and is giving excellent satisfaction.
The number of cattle sold this year was small, but in view of
the satisfactory statement, the Directors decided to declare a divi-
dend o1i the Preference Stock at the rate of S per cent, which was paid
on January 2nd.
it is felt that during the ensuing dear we shall be able unie.r
our new management to reduce expenses at the ranch, and to conduct our
business to much greater advantage in many ways than hitherto; bu'. it
seems essential at this ,-puncture that steadiness in the directson of
affairs should be assured. If that is secured there is a bright future
for the Company.
Yours very truly,
President.
i
"The liar X Cattle Co., Limited
TORONTO
Notice is hereby given that the Annual
General Meeting of the Shareholders of the
Bar X Cattle Company, Limited, will be held
at St. George's Hall, Elm street, Toronto
(Room 2) on Friday, the 24th day of Feb.,
1905, at the hour of 2.30 p.m., for the re-
ception of the Financial Statement and report
of the Directors for the past year, for the
Election of Directors, and for the transaction
of such other business as may properly be
brought before it.
WM. B. VARLEY,
Secreta.-v.
Toronto, Feb. 10, '05
FINANCIAL PTATEM ENT
DECEMBERII31ST, 1904
PROFIT AND LOSS
Preference Dividend No 2............ ....................... $ 7,334 08
Freight on Cattle purchased 5,518 48
Incidentals, taxes, etc . ...... ........ ........... .......... 618 76
Board of men ...... ......... ... .... 632 54
Wages of men .................... ......................... 3,002 65
Rental of grazing land ...................................... 3,345 64
Fencing —one -fifth to be written off each year for five years.. 522 04
Fodder used and written off ..... ........... ........ ..... 3,062 19
Horse Account ................................ ............. 7 50
Lost on real estate transactions ......... .................... 5,833 62
Depreciation and loss on buildings, fnrniture, implements, etc. 585 89
In,erest and Exchange ........ ....................... 2,297 21
Commission Account .... .................................... 2,610 00
Legal Expenses ........................................... 266 35
Office Expenses ........ ................................... 432 45
Expenses re purchase and sale of cattle, travelling, etc....... 930 05
Balance..................................... .. .......... 11,556 78
$48,556 23
Profit on Cattle ........ ......... ........................... $39,542 86
Balance from 1903 ......... ............. .................. 9,013 19
Contingencies account ...................................... 18
1
ASSETS AND' LIABILITIES
$48,556 23
Organization Expense ................................. .... $250,000 00 ( Common Stock ..... ...... ..$250,000 00
... ......... ........... ....
Cattle on hand .: .............. ,........ ......... .... 196,722 00 t Preference Stock .. 125,275 00
Horses on hand .......................... 2,9y5 00 Bills payable .............. .... ............... .......... '74,087 50
Fencing (less depreciation) ................ ................. 2,088 16
Buildings „4t .................................. 1,000 00
Furniture and Implements (less depreciation)..... 1,000 00
Fodder on hand ......... ..... . ...... .... 3,000 00
Bills receivable ............................ . .... .......... 25 00
Chamberlain Bank balance . ....... ..... ..... .765 98
Ontario Bank Balance ........... .................. ...... 3,386 84
Sundries......... ........ ........ ... .................... 20 15
$460,933 13
Sundries.................................................. 13 85
Balance .................................................. 11,556 78
CERTIFIED CORRECT.
W. S. ANDREWS,
Auditor.
$460,933 13