A RECORD YEAR

Dominion, Volume 30, Issue 47, 19 November 1936, Page 14

A RECORD YEAR

N.Z. Farmers’ Co-op. Distributing Co. DIVIDEND UNCHANGED The directors of lite New Zealand Farmers’ Co-operative Distributing Co., Ltd., in their thirty-third report and bal-ance-sheet for the year ended September 30. 1936. congratulate shareholders on ”the highly rstitipfactory result ot the year’s trading, which constitutes a record in the hie'tory nt' the. coinpani. The net prolil, after making provision for the bad and doubtful accounts tin. for depreciation on motor-cars, phijit and furniture, amounts to £22.039/10/5. compared with £16.044/15/3 last year. With the balance of £4400/6/2 brought forward from last year, (here is available in profit and loss appropriation account the „um of £26,439/16/7, which it io proposed to allocate ns follows: To pay to shareholders a dividend at the rate of 5 per cent, per annum. Tn write off £l3S4_for depreciation of premises. To add £5OOO to the general reserve. To provide sufficient to pay income tax, and to carry forward the balance, estimated at £5155. The directors acknowledge with gratitude the continued loyal support accorded the company by shareholders and the farming community, and have pleasure in reporting that all departments handled increased bn.s'ine<n*, the total turnover being higher by over £400,000. During (he year the bus-inesw has been further extended by establishing an agency at P.thiatun. and new premises have been pur chased in the Avenue, Wanganui. Prow pacts for the coming season are encourag ing. and the directors report that the company has never been in a stronger or better position to serve and protect the interests of the farming community. The retiring directors. Messrs. T. Currie. D. Scott and G. E. Yule, offer themselves for re-election. The dividend of 5 per cent. U at rhe same rate as for last year ami for 19.'!4. the latter being the first distribution since 1929. when the rate was 7 per cent. The year's net profit of £22.039 comparixs with £16.045 last year, £17,459 in 1934. £5016 in 1933. a net loss of £32.89 in 1932 and net profits of £1354 in 1931. £6130 in 1930 and £15,528 in 1929. The principal items in .the balancesheet compare as follows — Year ended September 30, 1934. 1935. 19.36.

FOREIGN EXCHANGE Position of Sterling By Telegraph.—Press Assn.—Copyright. X/ondon. November 17. The following mean closing rates on foreign exchanges were current to-day compared with those ruling on November Nov. 17. Nov. 14. Par. N. York. dol. to £ 4.88 11-16 4.88} $4,866 Montreal, dol. to £ 4.88 1-8 4.88 4 806 Paris, fr. to £ 105 11-16 105 9-64 124.21 Brussels, bel. to £ 28.805 28.885 48 611 Geneva, fr. io £ 21.25} 21.245 '>s •” 1 5 Anist'dam. fl. to £ 9 045 9 05} 1" 107 Berlin, mks. to £ 12.115 12.1:15 20'4.3 St’holm, knr. Io £ 19.3115 11)3115 Is 15'1 C’hagen. knr. to £ 22.40 22.41) 18 159 Oslo. knr. to £ 19.90 m.pq ls Vienna, schgs. io £ 20.50 26.50 34 585 Prague, knr. to £ 138.125 138.50 164 ”5 Hel’fors, inks, to £ 226.75 226.75 11)3.23 -Madrid, pes. to £ — — 25 ""5 Lisbon, esc. to £ 110 3-16 110 3-16 I’l6’" Milan, lire to £ 92.875 92.75 9-’ Athens, drach to £ *545 *545 375 Bucharest, lei to £ -0074 *6674 813 60 Belgrade, din. to £ 213 213' 270.31 Bio de J., p. to mil. s4} f-ii s.Slit) B Aires, p. to peso — — 17 ijj M. Video, p. to peso *39 7-8 *3l) 7-8 51 Calcutta, p. to nip. 18 1-8 IS 1-8 IS Shanghai, p. to dol. 14 17-32 14 17-32 -- 11.-Kong, p. to dol. 15 15 — Y’hama, p. to yen 14 1-32 14 1-32 31.582 Batavia, 11. to £ 9.015 9.015 12.407 i Sellers, official. ‘Sellers. IBar’ 8.23 31-32 since dollar devaluation on February 1, 1934. Gold mid Silver. . London, November 16. Gold.— £7/2/4 per ounce, line. —2lJd. an ounce; forward. On New Zealand Currency Basis . The Bank of New South Wales, Wellmgton, quoted the following rates for their purchases and sales of foreign exchange yesterday

The Associated Banks (other than the Bank of New South Wales) quoted the following’ dollar rates yesterday, on a New Zealand currency basis. They are subject to alteration without notice. ILS.A. Pol. Canadian Pol. Sei 1i n g (i ’e r V 1 N.Z.) (1 ‘er C 1 N.Z.) T.T. ."..91$ 3.911 o.n. 3.921 :;.9U Buying 0.1). 3.9C4 3.954 Okarito Gold Production The Okarito Five Mile Beach Gold Dredging Company, Ltd., has issued the following report for the four weeks from October 5 to October 31; —Total gold won, 640 z. 2dwl.; total time worked, 508 hours; total non-working time, 68 hours; total yardage treated, 32,456. an average of cubic yards, 64 per hour; average value of ground (on basis of gold worth £4 per ounce), 1.9 d. ;>er cubic yard.

£ £ £ Liabilit ies—Capital 133.42s 133.730 133.94S Fixed deposits S.125 S <S < 5 9.17.0 Reserves 10.411 19.034 21.134 Sundry er*?. and 6*ha reholderw’ a/cs 31,802 29,050 40.727 Bank of Australasia 10,784 22.919 ‘>7 Profit & a/c 10.225 19.071 20.440 Contingent liability— Bills discounted . . 15,000 22,500 22.500 Assets — Properties, less mortgages 75.340 75.507 SO. 103 Stocks .... 22.219 24.807 07 Plant, etc. .. 7.388 8.754 8.031 Investments 1,387 1.08.8 1,493 Bills* receivable .... 1.013 3,123 4.950 Sundry debtors and advances 111,901 1 19.453 137,140

New Zealand Buying Selling on London T.T. 124 124/10/£N.Z. t„ .£ si?. 1(10 O.D. 123/10 T.T. — 124/S/9 Australia £A to £N.Z. JOO Fiji O.D. lot loo/i')/T.T. — £F to £N.Z. 100 O.D. 00/7/ 89 Now York T.T. 3.951 3.91 i> Doi. Io £ >■ ,Z. . O.D. 3.9GA !*. Montreal . . T.T. 3.91 ’• Doi. t„ £N.Z. . o.d. .3.91 < Austria T.T. — 20.-IS Seligs. to £N.Z. O.D. -- 20.50 Belgium T.T. — 23.075 Hol. to £N.Z. . o.d. — 23.080 Czechoslovakia T.T. — ' 1 10.03 (. rs. to £ ?n / < > j > 110.08 Denmark T.T: is.2o: 17.893 Kr. to £.\.Z. . o.d. is. 17.903 France T.T. — .84.20 Frs. to £ N.Z. . O.D. - S4.30 Germany T.T. — <) _ (;s,”» Mks. io £ N.Z. . O.D. — 9.G90 Holland T.T. — , FIs. to £-N.Z. . O.D. — 7.224 Italy T.T. - 74.3G Lire (o £ N.Z. . O.D. — 74.11 .lava T.T. — 7.185 I* Is. tn £ N.Z. . O.D. — 7.189 Aorwav T.T. 16.181 15.891 Kr. Io EN.Z. . O.D. Ki. 211 15.901 Sweden 'j'.’C 1 78." 15.490 Kr. to £N.Z. . O.D. 15.84.’ 15.500 Switzerland .... T.T. — 10.987 Frs. Io EN.Z. . O.D. 111.992 Noumea T.T. — S2.S9 . J. rs. tii 4 \ z O.D. — S’ 1 !). > Papeete T.T. — 83.414 I'rs. to £N.Z. . O.P. — 83.10 Hong-Kong .... T.T. IS 23 111 IS 55-114 N.Z. d. to 1 Pol. O.D. IS 2154 IS 27-32 India and Ceylon T.T. 22’ _‘C2 N.Z. d. Io 1 Klip. O.D 22 11.32 22 41-G4 Japan 'I’.T. - 17 17-32 N.Z. d. to 1 Yen. O.D — 17 33-64 Shanghai T.T. 17 1310 18 5-16 N.Z. d. to 1 Did. O.D. 17 2532 IS 19-6-1 Singapore T.T. 34 2332 .35 13-61 N.Z. d. toll >ol. O.D. .345 35 3-1G Chefoo T.T. 17 5314 IS 29-64 N.Z. d. Io 1 Doi. O.D. 17 2532 IS 7-16