AN IMPROVED PROFIT

Press, Volume LXIX, Issue 21034, 9 December 1933, Page 13

AN IMPROVED PROFIT

NORTH CANTERBURY FREEZING CO. The operations of the North Canterbury Sheepfarmers' Cooperative Freezing, Export, and Agency Company show a net profit for the year ended September 30 of £7855 19s, compared with £5267 last season. No dividend is recommended. The annual meeting of shareholders will be held on Wednesday, December 20. The following is the directors' report:— Your directors submit herewith the eighteenth annual report and balancesheet for the year ended September 30, 1933. The drought conditions prevailing caused a rush of stock in the early part of last season which kept our works at Kaiapoi occupied at full capacity during that period. The failure of autumn feed, however, adversely affected supplies, resulting in a reduced turnover for the season as compared with the previous year. The improvement in prices on the London market towards the end of the season proved beneficial to those producers taking advantage of our "open door"' policy. The turnover has been efficiently handled and our arrangements for disposal of output have worked satisfactorily. The trading results oi the year disclose a profit of £7855 19s Id, from which your directors recommend the sum otf £3635 18s should be appropriated for depreciation on works and plant, leaving £4220 Is Id to be transferred to appropriation account. The directors retiring by rotation are Messrs J. Carr and J. W- Black. These, being eligible, offer themselves for re-election, and, in the absence of further nominations, are duly reelected. The auditor. Mr R. L. Hicks, also retires and, being eligible, offers himself for re-election. Following is a summary of the bal-ance-sheet and the profit and loss account: — LIABILITIES. x .-. <l. capital: -tO,QuO shares, r)i X 5 . . •JOO.OOO 0 n Le-s unallotted shares :>rt,f.7s " I) Lcm uncalled capital sG.r>7o I) 0 11 ,i-i no o s-i.s;,;, i) it Calls pail! in advance . . 54.5 0 0 Government building loan . . . . 7,500 0 (1 Sundry creditors 38,723 .1!' 8 xiai.CL's io 8 .A .SSKTS. Land and huibliu::s . . 18 l J.eb, depreciation .. U.ltr.T » <■ 5Y.092 in '1 I'lant nnii marjinerv .. 22,210 5 I i.e-s depreciation .. I,'lld Hi U 9 4 Stocks, stores, anil sundry debtors .. .. 11,317 5 4 Cash on hand . . 5 0 0 Balance appro). rial ion account .. .. 0,102 14 8 .i-I:ji,(J2id s PKni'MT AND LOSS. To sal Ties, office, geiier.il expenses, and ,i-,rela-tion .. 8,11.1 I 9 „ Interest, insurance, rent. rates, and bail del,ls 4,l'J'J 4 0 ~ Solicitors', auditor's, and directors' f-.-s -• 47 1 1:: 5

Italaner . . 'I.L'UH I 1 I Hi,lt-17 « l}y I'eiiio-. fr. anil cu fi >.:z rlia ;i n<f ] thfcedfl of l>y-|)i'odiKts .. o •'» ~ Tmnt-tVr ft'cs . . 'JO U AX' P K 01' it lATJ(J X. To h;il;in ° M JSeptPiribor :U>, .. KI.H'JS.IS 9 15 9 By pn»%i ;md loss account -1,2-0 1 1 ,' B;ihinee . . - ■ tt, 102 3 4 8 viin ;> ITiie trading profit last year was £5267, after providing depreciation of £1355 on works and plant. The paidup capital of the company is £84,355.1

N.Z. LOAN AND M.A COMPANY

YEAR'S OPERATIONS The profit and loss account of the New Zealand Loan and Mercantile Agency Company for the year ended June 30 shows, after paying and debenture interest, making provision for bad and doubtful debts, transfeiring £50,000 from general reserve and adding £13,552 brought forward from last year, a credit balance of £-7,120, which is carried forward. Th" loss ot £41.423 shown oa the operations for the year compares with a loss of £50,447 in 1932, and £ 148,46 a in 1931.

kauri timber COMPANY

A PROFITABLE YEAR (UNITED VHBSS association— I! - ' ELECTRIC TEr.EUUArII -COI'YKIUHT.) i Received December 8, 10.30 p.m.) MELBOURNE, December V. The' Kauri Timber Company s accounts for the year ended August dl rxtinfitiisiies the previous debit ol ■E3GI49 in lhe P rolit ancl loss accoU P|A dividend ol 2 per cent, was paid.