SOUTHERN FARMERS

Evening Post, Volume CXXVI, Issue 81, 3 October 1938, Page 12

SOUTHERN FARMERS

'•EVER INCREASING COSTS"

In dealing with the net profit of £ 19,360, plus the carry-forward of £3736 from the previous year, the directors of the Canterbury Farmers' Co-op, had been able to make provision for payment of 5 per cent, on all classes of shares, to provide for payment of income tax to the extent of £7460, and to transfer £6000 to general reserve and superannuation, leaving a carry-forward of £2159, said Mr. F. R, Flatman, chairman of the association, at Timaru on Friday. Since last January, he said, South Canterbury 'had not fared well with the weather, having suffered from a surfeit of rain during the critical time of harvest and lamb fattening, and farmers generally had had a trying time, resulting in considerably less income being ayailable from the farms, and necessitating increased support financially by banks and mercantile firms. The association had had to give increased support to farmers to the extent of £32,038, thus increasing its responsibility in finance, against last year, by £21.836. Added to this, the ever-increasing costs of working, owing to legislation, had handicapped farmers in their year's results. Labour conditions had been difficult owing to men leaving farm work for the higher rates of wages ruling in Government undertakings. . A good season in sheep and lambs, dairy produce, and crops could be looked for, though it was regrettable that through force of circumstances it would appear that the acreage in wheat would be very short, and importation to make good New Zealand's requirements would be considerable next year. The season for wheat sowing was very unfavourable and had been, the real obstacle to a sufficient crop j being available for New Zealand's requirements next year. The report and balance-sheet were adopted, and the directors thanked for their services.