TAI TAPU CO-OP. DAIRY COMPANY.

Press, Volume LXV, Issue 19726, 17 September 1929, Page 12

TAI TAPU CO-OP. DAIRY COMPANY.

forty-first annual report. The forty-first annual report and balancesheet of the Tai Tapu Co-operative Dairy Company, Ltd., have been issued. The directors express their deep regret at having to record the death of Mr P. Hubbard, who had "been a director of the company for thirty-four years. The report is as follows: — The year's results leave a balance of £l9 491 2s 4d available. The directors make the following recommendations (1) "That the sum of 2Jd per lb on butter-fat be refunded to suppliers for the period September Ist, 1928, to May Slst, V/oj "That the sum of 4d per lb on but-ter-fat be refunded to suppliers for the neriods August Ist, 1928, to August 31st, 1928, and June Ist, 1929, to July 31st, 19 (3) "That a dividend at the rate of 8 per cent, per annum be declared." The vacancy caused by the death of. Mr P Hubbard was filled by the appointment of Mr F. Miller. Messrs H E. Perymfcn, T. M. Rainey. and F. Miller retire from tbe directorate, and are eligible for re-election. The auditor*, Messrs E. R. Caygill and Co., F.1.A.N.Z., A.P.A.N.Z., again _ offer themselves for re-election. All claims in respect to final payment on butter-fat for the y®^ r ended July 31st, 1929, not claimed by March 31st, 1930, will be deemed forfeited to the company. The auditor's certificate in accordance with the provisions of Section 4 of the Dairy Industry Amendment Act, 1922, states that: (a) The weight of butter made from each pound of butter-fat used for the manufacturo of butter was 1.23921b. (b) The weight of unsalted butter manufactured was nil (c) The weight of cheese made from butter-fat was nil. BALANCE-SHEET. £ e. d. Liabilities— Capital paid up .. 11,142 0 0 Sundry credits • • 2,689 12 1 Building and alteration reserve . . • • 11 Bank No. 1 account . . 1,550 3 9 Profit and loss account . . 30,579 6 4 Electrical dept., reserve • and creditors . - 7,043 5 3 £53,853 5 4 Assets—■ Land, buildings, plant, and electrical plant .. 26,917 12 9 Sundry debtors .. 9,104 18 11 Stock .. • - 17.830 13 8 £53,853 5 4 WORKING ACCOUNT. £ s. d. To advertising, printing, and stationery .. 831 19 0 ~ Butter boxes .. . - 1,263 4 6 „ Butter paper . . .. 446 17 10 „ Cartage and rail . . 4,705 111 „ Coal and power . • 725 17 11 „ Directors' fees •. 250 0 0 „ Freezing charges .. 1,172 14 10 „ Insurances .. .. 2f>l 1 0 ~ Petty cash . . .. 135 4 1 „ Kent and rates . . 106 12 8 „ Repairs and renewals .. 391 4 4 „ Salt .. .. 218 8 0 „ Trade expenses .-. 1,473 12 0 „ Wages and salaries .. 7,963 3 6 19 975 1 7 „ Balance .. .. 20.602 14 4 £40.577 15 11 By gross profit •. 40,455 3 8 „ Interest .. .. 122 12 3 £40.577 15 11 £ s. d. Balance .. • • 20.602 14 4 Depreciation .. .. 1,111 12 0 £19.491 2 4 HIGH COMMISSIONER'S REPORT. {THE PBESB Special Service.] WELLINGTON, September 16. The Department of Agriculture has received the following cablegram, dated 14th instant, from the High Commissioner for New Zealand, London: — Tallow. There was no auction this week on account of insufficient arrivals. The market is quiet, but steady at last quotations. Eggs. The market is firm for the best, but there is a poor demand for cheap sorts. Present quotations are:—English 13s to 22s per long hundred; Dutch and Danish 14s to 17s 6d per long hundred; French 12s 6d to 16s per long hundred; Belgium 13s 6d to 14s per long hundred; Polish 9s to lis per long hundred. Hemp. The Manila market is quietly steady, and buyers are operating cautiously. Closing values for "J" grade, September-November and October-December shipment were £37. The output from January Ist to August 31st was 1,110,000 bales, as against 918,000 for the same time last year. Stocks of Manila at August 31st were 229,000 bales, as ag&inst 165,000 last year, and English 15,885, as against 18,519. The sisal market is very quiet, with sellers for fair average quality, September-Novem-ber shipments at No. 1 £39, and good marks £4O ss, but there are no buyers within 103 of these rates. The New Zealand market is very quiet, but shippers Bhow no anxiety to sell. Nominal comparative values are unchanged. Wool.

The Bradford market is quiet, - with no speculative forward buying in tops, and a hand-to-mouth policy continues. ■ Present Quotations are: 64's warp 3s Id per lb, averages 2s Hid to 3s per lb; 56's, 2s 4d per lb; 50's prepared, 2s per lb; 40 s prepared. Is 9d per lb. NORTHERN BOOT COMPANY. ANNUAL MEETING. [THE PBEBS Special Service.] AUCKLAND, September 16. "The company is now safely through the deflation period," stated the chairman of directors of the Northern Boot and Shoe Manufacturing Company, Limited (Mr George Winstone) at the annual meeting. The chairman said that the amount of bad debts shown on the balance-sheet was large, but it was owing to the winding up of some retail businesses that were carried ou under the supervision of creditors. The amount of bad debts that could be classed as a fair charge on the year's business was not excessive under normal conditions. Stock was oarefully priced, and particularly free from anything that could be classed as "dead" stock. The company continued to hold a good position in the industry, and its clientele was increasing. The trade had been held together during the dull period, which it was hoped was now past, and the company had come through without trenching on its reserves. Having kept the company in a sound financial position, the directors felt justified in saying they hoped to meet shareholders next year with every prospect of an improved position. There being no dividend, the directors did not recommend the payment of honoraria. The balance-sheet showed a loss of £740, due chiefly to provision for unsatisfactory accounts. The gross profit for the year ended on July 31st was £6219, compared with £6816 in the previous year, when there was a net profit of £626. The report and balance-sheet were adopted. AUSTRALIAN DRIED FRUITS. (TOTTED PRESS ASSOCIATION—BI BLBCTMB TELB3RAPH COPYRIGHT.) (Beceived September 16th, 10.5 pjn.) MELBOURNE, September 16. Sales of Australian dried fruits in Great Britain last week constituted & record, £236,000, due largely to the failure of the Turkish harvest.—Australian Press Association. LONDON PRODUCE MARKETS. The Bank of New Zealand haß received the following advice from its London office as at the closet of business last week:— Butter —Very firm; 180s per cwt.' Cheese —Firm; coloured 93b to" 94s ner cwt, white 92 s per cwt. Frozen Meat —It is thought that prices for wethers will remain steady at last quotations There is a little better demand for ewes and a better enquiry for lambs. The market for beef is firm. Wethers, light, sgd to 63d per lb; wethers, heavy, 5d to sid per lb- ewes 4ld to 4|d per lb; lambs, two's, 81d td Bid per lb; lambs eighfs 7Jd to Sd per lb; lambs, four s, 7Jd to 8d per lb- lamhs seconds, 71d to 8d per lb; ox hinds Sid to sid per lb; ox fores, 3Jd to 4d ner lbcow hinds, 4id to 5d per lb; cow fores, Bftd to 3id per lb. ' "