COMMERCIAL

Gisborne Times, Volume LXXII, Issue 11495, 24 November 1931, Page 2

COMMERCIAL

■■ W WAIROA MEAT COT PAST ' SEASON REVIEWED According to the annum ' report of • the Wairoa Farmers Co-operative Meat Ooy., a heavy loss was maid© by the company during the 1930-31 season, largely as the result of'the disastrous Qre which practically demolished the works. The report' stresses that it will not ho possible to resume freezing there during the early stages of the se.a'kon now starting. The expenses of administration and operation last season wore •‘<£74B7, and the proceeds of freezing, manufactures, sales, and other - sources of revenue, after deducting wages and- some - other chargesi amounted to £2980. A’ balance of £139 brought' forward from - Hast year was Used to .reduce the adverse balance in the profit and loss account, the balance being'£43sß. The total called up capital' of - the company is £95.304 of which '£1057 'is not paid up. The account with the bank of New Zealand 1 is £58,134, arid other company items' bring - thetotal liabilities of the company up to £173, 239. Tho capital assets comprise freehold land, buildings, machinery and similar items, including 'ai railway siding valued tat .£94,328, anil a' fire claim suspense account representinjv £66,000. In addition there are current assets comprising stocks of manufactured goods and stores, sundry debtors’ accounts, and unrealised consignments totalling .£8553. Prior to the oarthnuake on February 3, 1931, the killing figures for. the works, with the comparative figures for tho same period:-of 1929-30 in parentheses, were: Sheep, 22.098 (82S0); lambs, 38,293 (27,997).. Shareholders are reminded that the fire which destroyed tho works occurred on February 6, two days after tho earthquake disaster, and the directors mention that the long delay in receiving settlement from, the. insurance companies has been most unfortunate, as 'it made it impossible to recondition the works in time for the commencement of tho 1931-32 season. Arrangements ;<were made for the carriage of fat stock from the-Wairoa district to the Gisborne works for the balance of the reason, the New Zealand Meat Producers’ Board greatly • assisting the company by rebating half the costs of transport. The directors who retire by rotation at the date of the annual meeting are Messrs. R. E. Barton, A. T. Carroll, and J. L. Spence, and these gentlemen offer themselves for re-election. The auditors, Messrs. McCulloch, Butler and Spence, also offer themselves for reappointment.

STOCK AND SHARE MARKETS . (Press Association AUCKLAND, Nov. 23: - Sales on ’Change: Farmers’ Trading, 6s Id; Commercial Bank, 15s'9d; New Zealand Insurance, 40s. Reported sales: Mt. Lyell, 19s; Tnupiri Coal, pref., 22s 6d; Bank of New Zealand, D mortgage, 26s 9d. CHRISTCHURCH, Nov. 23. • Sales on 'Change: Okarilo, 9s id; Golden Point, 7£d (3). DUNEDIN, Nov. 23.' Sale on ’Change: Commercial Bank, 16s. •" HIDE AND SHEEPSKIN SALES. Messrs. Murray Roberts and Co., Wellington, report as under: “At our sale on November 20, 'wo offered a good catalogue of sheepskins and hides, the usual buyers being in attendance. Competition was „ very brisk at about the level of last sale for .sheepskins, .some sound pelted tots selling up to -Id better. Hides were in very keen demand for all grades, light ox selling at par to ?,d higher. Medium weight ox were on the average, about jUI higher and heavies wore par lo 'd better; light weight cows advanced Jd; medium sold id higher than last sale, and heavy cows wore ahoiic 'on the said level. Yearling, kip and calf wore very firm at a slight advance.”