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THE FARMERS’ CO-OPERATIVE. ACCOUNTS FOR THE JPAST YEAR. NET PROFIT OF £53,640 SHOWN. (Special to the “ Guardian.”) CHRISTCHURCH. This Day. The New Zealand: Fanners’ Co-oper-ative Association of Canterbury, Ltd., shows further sound improvement in the accounts for the year ended July 31, 1938. The net profit rose by £6586 to £53,640, the gross profit rising from £217,319 to £218,803.. The recommendations are that 2517,250 bo reserved for income tax, that dividends of 4£ per cent, on first preference shares and of 4 per cent, on both “A” and “B” preference shares (unaltered: from last yeai - ) be paid, and that the balance of applied to the reduction of the deficiency shown in the balance sheet, which will then stand at £201,461. The main features of the account are that the -secured' deposit stock has been reduced by £232,582 fro £659,396; that the general reserve in consolidation of small reserves has risen from £11,509 to £33,468, and that the liquid position remains good at £84,000.
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Bibliographic details
Ashburton Guardian, Volume 58, Issue 281, 8 September 1938, Page 6
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165STILL BETTER Ashburton Guardian, Volume 58, Issue 281, 8 September 1938, Page 6
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