FRUIT GROWERS' CONFERENCE

Press, Volume LXIX, Issue 20937, 18 August 1933, Page 10

FRUIT GROWERS' CONFERENCE

FEDERATION FINANCES CANTERBURY PROVINCE Discussions preliminary to the annual Dominion conference, to be held in Wellington on September 6, were held at a Canterbury provincial conference of the New Zealand Fruitgrowers' Federation in the Chamber of Commerce last evening. Mr F. W. Sisson presided over a large attendance, which included Mr T. C. Brash, president, and Mr H. E. Napier, secretary of the federation. Mr Brash said the federation's financial position was satisfactory, although the directors had been through a difficult year. Fluctuating exchange rates overseas had created business difficulties, an instance being the changing value of the dollar. The directors could not afford to neglect any opportunity of buying materials for the growers as cheaply as possible. Although they desired to support British industry, they might yet have to look to America.

The federation's liquid capital totalled about £30,000, and the directors had stretched the finances as much as possible in allowing £IOO,OOO to remain owing by growers. The capital of the federation was gradually being built up, and this was satisfactory. More fruit had been handled, but prices had fallen, and the net profit was about £6OO less in 1932-33 than during the previous year. Although the federation dealt with arrangements, he explained, the export of fruit was controlled entirely by the Fruit Board. Mr Brash added that two years ago there was established a system of placing to the credit of fruit growers a portion of the net profit, so that they could, if necessary, rank as ordinary creditors. These amounts now represented about 1 per cent, of each grower's trade, and they would be available for return to the growers when conditions were favourable. Accounts for the Year. The statement of accounts of the federation for the 12 months ended June 30, 1933, as circulated to members, showed. a net profit of _ £2578, expenses totalling £16,567. Directors" expenses, honorarium, advisory board expenses, and audit fees absorbed £1322, salaries, superannuation, subscription and show prizes, £8455. Gross profit from trading was £15.249, and other income was shown at £3896. Under the heading of assets, sundry debtors were shown at £32,238 net and stock on. hand £5546. The Bank of New Zealand account was stated at £2627. Accumulated funds were set down at £20,037, which, with the al- | location account of £4023 and the net profit for the year, totalled £26,638. i The conference agreed to several remits for the Dominion conference from various parts of the country urging the Government to retain the embargo on Australian fruits at least until a reciprocal agreement had been reached between the Dominion and the Commonwealth. , , Delegates to the Dominion conference were appointed as follows: Messrs C. E. Pope, G. Mottram, N. Goldsbury, and W. E. Davidson. The following were appointed an advisory committee, to act as a subcommittee of the federation: Messrs F W. Sisson (chairman), E. A. Stead, J F. Tapley, W. E. Davidson, J. w. Macleod, and C. G. Wilkinson (secretary).