NORTH CANTERBURY FREEZING

Press, Volume XCIV, Issue 28128, 17 November 1956, Page 14

NORTH CANTERBURY FREEZING

RECORD KILLINGS, PROFIT INCREASED

Net profit of the North Canterbury Sheepfarmers’ Co-ooerative Freezing Export and Agency Company. Ltd., for the year ended September 30. 1956. rose £6Bl to £6573. This result is reached after provision of £7451 (down £24) for depreciation and unstated taxation.

The killings at Kaiapoi again provided record figures, according to the directors, commenting on the “exceptionally busy season.” Recommended dividends are maintained at 5i per cent, preference and 6 per cent, ordinary, requiring £3718. A transfer of £5OOO to general reserve (bringing it to £35.000). which was not added to last year, is recommended. Appropriations exceed the profit by £2145 and carry-forward is reduced by this amount to £5015. Land, buildings and plant rose £13,369 to £176,096 and stocks and materials are £38.923 higher at £67,825. Sundry creditors, including tax provision, are £3597 higher at £46.995.

LONDON WOOL FUTURES

(N.Z. Press Association—Copyright; LONDON, November 15. London wool terminal market quotations today were:— Buyers. Sellers d. d. per lb per lb December .. 133 134 March .. .. 1271 127 i July ... .. 1232 124 October .. .. 122 J 123 Bradford woo] tops:—Merinos: 70’s, average. 144 d per lb; 64's, average, 133 d; 60s, super. 122 d. Crossbreds: 56 s, average carded, 96d per lb; 50’s, average carded, 89d: 46’s, average carded, 87d.