FARMERS' FERTILISER,

Evening Post, Volume CXVIII, Issue 34, 9 August 1934, Page 16

FARMERS' FERTILISER,

GOVERNMENT SUBSIDY

Mr. A.' A. Rosa, presiding at the annual general meeting of shareholders of New Zealand Farmers' " Fertiliser Company, Limited, _Auckland, said the bank liability i had been reduced from £194,885 to £118,802. Last year the external liabilities stood at £222,029 4s 9d, and the liquid assets at £131,841 *13s, showing a balance of liabilities of £90,187 11s od. This year the corresponding figures show a balance of liabilities of £72,814 17s 7d, which improves the position by £17,372 14s 2d. With the undistributed profit of £21,142 10s Bd, the total of reserves in the business amounts to £45,142 10s Bd, which shows. "ah improvement on the previous year-of, £4618 9s 7d. This, added to the assets of the company and after allowing for all liabilities, shows that for each £1 share they Jiad assets amounting to £1 3s 5d.. ;'■/..,' - "The policy of subsidising the farmer in his purchases of fertilisers," said Mr. Ross, "is still in force,-arrangements having recently been completed to extend it for another year. The aim of the Government is:'to'maintain the price of super at a maximum of £.i a ton, and the subsidy is a fluctuating one following variations in costs of raw. materials and costs of manufacture. At present the subsidy stands at 2s 6d a ton, and the price of £4 has been attained, partly by 'the subsidy and partly by concessions/from the manufacturers and distributors,'the industry recognising that as the low price encourages farmers to increase tlieuse of our products, it incidentally receives some benefits from the better demand." The report:. and , balance-sheet were adopted.