FREZING COMPANY'S LOSSES.
Mr. G. D. Greenwood, retiring chairman ot the North Canterbury Sheen, tanners Co-operative Freezing Company, at the annual meeting held on Tuesday last regretted a loss of £29,418 on the years working and no provision made i Sfn CI rtion- The loss was Part!y met by ±.9000 from- the general reserve and £0000 from dividend equalisation reserve carrying forward £15,418 12s sd. Mr. Greenwood explained that the loss of £30,000 had been caused to a large extent by purchasing stock from producers at a higher price than the equivalent in London on the day it was sold. When stock was being purchased in the Canterbury market at 10% d per pound, the market price in London was something like 9d. His prognostications of loss, although criticised in some quarters, hild proved to be very moderate compared, to the loss sustained.
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Evening Post, Volume CVIII, Issue 130, 28 November 1929, Page 12
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143FREZING COMPANY'S LOSSES. Evening Post, Volume CVIII, Issue 130, 28 November 1929, Page 12
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