FARMERS' .TRADING YEAR

Evening Post, Volume CXV, Issue 124, 29 May 1933, Page 10

FARMERS' .TRADING YEAR

The annual accounts o£ the Farmers' Trading Company, Ltd., Auckland, for the year ende^d March 31 disclose net profits amounting to £14,201, compared with £25,149 for the previous year. The directors report that: "Conditions in the business world have not improved since the last report' was issued. They have, in fact, grown steadily worse. With the fall in the values of our dairy produce, the most important article of export from this province, it has been a period of extreme difficulty. Few business concerns have' made profits, and, on the contrary, it lias generally been considered fairly. satisfactory to keep going without making a loss. It is thus all the more satisfactory to find this company has again made a profit, although a small one, and not sufficient for a dividend on the ordinary shares." Preference dividends are recommended at 5 3-5 per cent., against 7 per cent, last year. No ordinary dividend was paid last year. Sir Enoch Hill, the president of the Halifax (Yorkshire) Bujldin? Society, was able to state at the annual meeting that the total assets reached £88.676.292, being a record increase of £10,725,939 over the previous year's figures. Mr. Arthur d'Anyers Willis (chairman of the Chartered Bank of India,. Australia, and China) stated at the annual meeting of the bank that the trend in India today is all towards industrialisation, and the big men behind this movement are all "hundred per cent." tariff men.