HOWARD ESTATE

Hawke's Bay Tribune, Volume XXVI, Issue 111, 23 April 1936, Page 4

HOWARD ESTATE

Balance-Sheet Issued For Year’s Working PROFIT OF £2419 The annual balance-sheet of the Estate of Josiah Howard (Smedley Training Farm) for the year up to January 5 shows a very satisfactory fihaneial position. Accumulated profits amounted to £25,918, and the net profit for the year was £2419.

The following aro the principal items among the assets: Cash £9520; share* in suiek and station agency firms £125; 9690 mixed sheep and 24 stud Romney rams £7658 ; 487 mixed cattle and 27 Polled Angus cattle £2517; 26 horses £416 (the total value of all livestock is shown as £10,592); implements and machinery (including implements valued at £76 bought during the year less depreciation (£141) £595; furniture £152; 190 bales of wool (estimated value) £2105; 3000 sheepskin* £45; produce £437; realty consisting of 7714 acres 2 roods 38 perches, plus buildings and other improvements costing £6017, and less depreciation and fire losses amounting to £2964, and plus 12 acres costing £6l, total net amount £46,514; capital expenditure .account £1943; fencing and scrub-cutting account £2640. Total of all assets £74,373. The chief liabilities consist of: Reserve for unrealised wool, hides, and produce £2542; estate capital account (£43,484) plus net accumulated profits (£25,918), plus net profit for the year '£2419) £71,822.