A SATISFACTORY YEAR.

Bay of Plenty Times, Volume LX, Issue 10884, 10 August 1932, Page 4

A SATISFACTORY YEAR.

PIG MARKETING ASSOCIATION. "We are pleased to tell you that the company has had a very satisfactory year, and the directors are very gratified with the results obtained.” states the July report, of the New Zealand Co-operative Pig Marketing Association, Ltd., appearing in ths month’s issue of the New Zealand Farm and Home. “The total number of pigs received was about 20,850, and is a fine achievemnt in view of the unfortunate trouble at the commencement of the season. The number of condemned, unexportable and second-quality pigs is less this year (in proportion) compared with previous years’ figures. The realisations, too, are entirely satisfactory. The accounts disclosed a surplus which will enable us to distribute a final* payment to suppliers which will make their returns for the season up to 100 per cent, of the estimated realisable value at the time the pigs were supplied. Most of the pigs received have been advanced at 75 per cent., but those supplied earlier in the season were only at 50 per cent, and 65 per cent, at respective periods. The final payment, therefore, will be a further 25 per cent, on those pigs advanced at 75 per cent., 35 per cent, on those advanced at 65 per cent., and 50 per cent, on those advanced at 50 per cent. The total pay-out will amount to about £7200 and is equivalent to nearly 7s per pig. That is the average—some will receive more and others less, according to weights and grades. “There can be no doubt that those who supplied us with pigs this year will receive very satisfactory returns. The directors regard this as an indication that the company has not only justified its organisation, but is on the way to progress and expansion, which will make the company a real power in the future. “The scheme for reconstructing the company is progressing satisfactorily. The shares have been found to be worth 6d per share, and shareholders will have the option of converting them into shares of the -new company on that basis. Four options will be submitted in the terms of our recent circulars. The directors recommend shareholders to adopt option No. 4. This requires the shareholder to apply for shares in the new company, which will be credited as paid up to the value of his holding in the old company. If he applies for as many shares as he considers will qualify his supply for the season on the basis of 5001 b. of pork, each share will be credited as paid up to like amount until the whole of his interest is absorbed.”