NELSON BROS.

Evening Post, Volume XLVII, Issue 85, 11 April 1894, Page 4

NELSON BROS.

Tho balance-sheet of Nelson Brothors, Limited, for the year ended September, 1893, 'hows that tho net earnings for tho year A'oro only J86239, and thoro is interest to v.ay on debentures of .£7300. Thoro was 'lieroforo a drud losa to shareholders of uoarly £1100 on tho year's work. There was, however, a ba'anco of profit from the provious year of .£9772, and in order to pay the shareholders a dividend of 5 per cent. ' for the yoar £13,08-1 was transferred from .he insurance fund. Tho directors' report stated that tho ■:uusoß whioh bad lod to the unsatisfactory ■-CBults for tho yoar woro " primarily, tho iovere and protraitod drought in this connTy, which, lasting for the greater portion of our year, caused the principal markets to be iverwhelmed with half fattened Home killed itock, thereby preventing any profitable ontlot for frozen mutton, and the labour difficulties, whioh, by rednoing tho meatbuying capacity of tho masses, lowered the celling value of our commodity to an unprocedented level, from which we and all other importers Buffered severely. In Now Zealand, tho district of Hawkes Bay, where the company's properties aro situated, was visited with rainfalls worse than ever before known in the history of tho colony. Our losses by mortality in sheep and cattle wero sorious, aud tho stock on hand necessarily much depreciated in value. Tho expenditure in agricultural work was rendered unproduotive by tho rain whioh fell oontinuou sly for woekß." The English papor Fairplay, comment-Ing on the report and balance-sheet, says :— " In 1892 the not earnings wero £35,738, against £6239 in 1893. Now what is the cause of this unnatural and, as it appears to mo io be, unnecessary state of affaire ? Here is a great frozen meat company,' by far the •rifeßtin tho colony, and controlling tfon- '^- * bly moro than half tho mutton grown hi***.. -ryinsr on its btwinoHs practically at t c'e ' ' ia ono Bi<1 ° of tho triangle. On ?i >ye Lave the shipping comtho .crtner tod« •• ., 8 ital em £ ar B ked in paniec , ,* Jt ? * M c r ™£ loft - on part of the buaitho trade übw «JJ r JJg al JJ IOSB>l OSB> at anyrate rtno4p?ofitNtaUsthose r dsideoftho tl,wl« On tin* other side, it seemß to mo, carrying it. It appears •". .. „, sooner this atate of thinge i » b *"f' e f ? £! bettor for Nolaou Brothers, the J"*™ ™* ™ ship owners, and possibly tho be"™* »™" long run for the squatters w»> c ««° t reasonably oxpeot that a combinat. on JH" exist to all timo whereby they are to re^» »ye a larger return for thoir meat than the an ««e is capablo of producing, tho difforenco bei/iK mado up out of tho pockets of tho buyers anO tho oarriors. Dooidedly these aquatters are tho moat bloaaed of mortals. Banks lend thorn twice ob muoh on their farms as these farms are worth, mortgage companies vie with banks in contributing to their happiness, and as I have already said, moat dealers and ship owners como in and contribute their quota to tho welfare of the luoky New Zealand sheep trrower. Where are farmers to look for such friends i"