BIG LOSS ON YEAR
AUSTRALIAN LAND COMPANY. DROP OF £137,000. (United Press Association —By Electric Telegraph eopyrignuj .Received 2 p.m. to-day. LONDON, Nov. 27. At the Australian Mercantile and Land Company meeting, Mr R. Call'd, presiding, said the causes of the principal diminution of profits were entirely beyond the company’s control. A severe drought was responsible for the greatest falling off, and the actual loss on the company’s properties this year was £88,641, compai'ed with a profit of £48,700 the previous year, thus showing a decline of £137,341. He thought that as no heavy stocks of wool were cai'ried anywhere wool would be one of the first commodities to respond when the old conditions of trade were i-evived. Unless thei-e was a rise iix wool prices the company could not expect anything but. a loss on the company’s properties during the current year, though it would certainly lie much smaller than last year. The position would probably be £60,000 or £70,000 better.
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Hawera Star, Volume L, 28 November 1930, Page 9
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162BIG LOSS ON YEAR Hawera Star, Volume L, 28 November 1930, Page 9
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