MINISTRY OF FOOD

Hawera & Normanby Star, Volume XLI, Issue XLI, 17 December 1920, Page 7

MINISTRY OF FOOD

STATEMENT OF ITS OPERATIONS.

NET PROFIT LESS THAN £1,w 3 000

BY CABLE—PRESS ASSOCIATION—COPYRIGHT

(Received Dec. 17. 11.5 a.m.)

LONDON, Dec

The Treasury has issuedU a "White Paper dealing with the accounts, of vne Government departments' services in assisting the food supply and promoting the continuance of trade during the war. The Ministry of Food, from its inception to March 31. 1920, shows an estimated net profit of £912,312. TTie original instruction was that the Ministry should he self-supporting without making a profit. Its profit on the turn_ over approaching £1,000,000,000 was less than one-tenth of ens per cent. The | purchases of frozen meat to March 31,: 1919. amounted to over £197.000.000, ■bn which, the profit made was 4.45 per cent. The purchase of Australian zinc concentrates to March 31, 1919, were valued at £1.48r?198. The Wheat Commission expended in three years to August 31, 1919, on purchase", freight and] charges, £514,774.574. the net loss on > the trading account was £-87,219.240. ; which represents ap"broxiniatelv the cost- ' of selling the loaf at- 9d. * I