COMMERCIAL

Press, Volume LXXVIII, Issue 23748, 21 September 1942, Page 6

COMMERCIAL

YEAR’S OPERATIONS REVIEWED

CANTERBURY FARMERS’ CO-OP. ASSOCIATION

The annual report of the Canterbury Farmers’ Co-operative Association. Ltd. (Timaru) gives the position in finance (shillings and pence omitted) as compared with last year, as follows: — July 31, July 31, 1941. 1942. £ £ Debentures .. .. 238,785 237,191 Current accounts in credit '* .. 79,202 100.948 Bank including London and cash in hand .. 10,845 338,139 Cr. 42,864 £328,832 £295,275 A decrease in responsibility of .. .. £33,557 The result of the year's operations discloses £ A net profit earned of .. .. 30,308 To which has to be added balance brought forward from last year 4,379 Making a total of .. .. • • 34,682 The directors have declared a 5 per cent, dividend on air classes of preference shares amounting ■ to .. .. •• •• 4,696 Which leaves an amount of .. 29,986 From which the directors recommend the payment of a dividend on ordinary paid-up capital of 5 per cent. .. • • 2,787 Transfer to reserve for Income, Social Security and National Security taxes .. .• • 21,453 Leaving a balance to be carried forward of .. .. •• 5,745

MINING Grey River.—The dredge return from September 2 to September 16 was 733.7 oz from 177,437 yards In 256? hours. Maori Gold.—The dredge return for the fortnight ended September 18 was 58oz 15dwt for 262 hours from 29,500 yards. • Snowy River.—The dredge return last week was 157J0z from 24,000 yards in 120 hours. Blackball Creek.—The dredge return was 360z In 105 hours. Maori Gold.—The return for the fortnight ended September 18 was 58oz ISdwt in 282 hours from 29,500 yards.