PASTORAL COMPANY'S YEAR

Evening Post, Volume CXVIII, Issue 114, 10 November 1934, Page 12

PASTORAL COMPANY'S YEAR

The New Zealand Farmers' Co-operative Distributing Company, Limited, reports a net profit, after making full provision for bad and doubtful accounts, unpaid interest, and for depreciation of plant and furniture, of £17,459 4s lOd, compared with £5015 14b for the previous year. With the balance of £1765 11s 6d brought forward from last year there is- a balance Jn prpfit and loss appropriation account of £19,224 16s 4d which it is proposed to allocate(os follows:—To pay to sharehlders a dividend at the late of 5 per cent, per annum; write off £1230 for depreciation of properties; add £3000 to the general reserve account; provide a sufficient sum to cover incoma tax; to carry forward the balance estimated at £3400.' It is also proposed to utilise the amount ,of £511 '2s 2d in forfeited shares reserve to further depreciate the book values of the company's saleyard properties. ,''..■ iThe directors acknowledge with gratitude the loyal support accorded the company by shareholders and farmer, clients. The volume of business handled was easily a record, the turnover, excluding land sales, increasing from £604,612 tb £1,071,319, all departments having handled increased business. During the year extensive alterations and additions were made to the Masterton premises, while at Wellington it was found necessary to practically double" the size of the main wool store to cope with the increased business. The retiring directors, Sir William Perry and Messrs. H. B. Maunsell and D. Collio, offer themselves for re-election. .. ■ ■ ,■ .

The chief centres of commercial bulb cultivation in Great Britain are in Lincolnshire, Cornwall, the Scilly Isles, Cambridgeshire. Devon, and Wales. The number of British bulbs produced in the autumn is in the region of 14,000,000 and the figure is growing, jast ever^ xear* \