RECORD KILLINGS

Hauraki Plains Gazette, Volume 51, Issue 3177, 2 October 1942, Page 7

RECORD KILLINGS

FARMERS’ FREEZING CO.

REVIEW OF OPERATIONS

AN APPEAL TO ALL FARMERS

As a result of increases expenses of operation, the profit of £15,504 was £5667 less than in the previous year, stated Mr W. E. Hale, chairman of directors, at the annual meeting last week of shareholders of - the Auckland Farmers’ Freezing Company, Limited. The directors recommended a dividend of 02 per cent, to absoib £15,142, and leaving £4866 to be carried forward. The dividend was 6 per cent, in previous years. In view of the lower profit, the present yeiy high working costs and unceitainty regarding the future, a reduction in dividend to the extent mentioned is considered advisable.

At £275,331, subscribed capital. is the same as last year and is fully paid. General reserve stands at £167,000, bank overdraft at £141,27'8 is £W2,000 less than a year ago, principally accounted for by the fact that charges for freezing on produce in store had been paid to a later date than was the case at June 30, 1941. In this connection it will be noticed that sundry debtors are lower than a year ago by £72,00'0’. This year the amounts owing to sundry creditors and provided to meet other known obligations, total to £205,372, which amount is less than last year by- £20,704.

During the year, the company’s war loan investment of £35,000' was sold. This item, therefore, does not appear in the balance sheet under i eview. The item, “Government ’Bonds” £434, represents the cost price of Bomber Bonds” purchased. New items appearing on the past year’s balance sheet are a liability reading, “Government emergency buildings and plant loan account, £1'84,016, and an asset termed “Emergency buildings and plant erected under arrangement with the New Zealand Government,” £206,842. The loan account, however, has since been increased to agree with the latter figure. These items represent the posi-

tion of accounts on completion of emergency buildings and plant erected by arrangement with the Government for the purpose of ensuring adequate storage accommodation during the war period. The difference between the figure shown against the main item of buildings and plant account last year as compared with this year, is explained by some small additions, less depreciation for the year and a transfer to the emergency account. The record total of 1,327,000' cattle, sheep, lambs, pigs and calves were killed at the company’s Horotiu, Southdown and Moerewa meat export works during the year. Lambs and ca*ttle were killed in greater numbers than ever before; sheep killings were ahead of the previous year, whilst pig and calf killings were rather less.

Killings of each class of stock were as follow:—Cattle, 89,062; sheep, 122,719; lambs, 659,723; pigs, 156,695; vealer calves, 524; bobby calves, 298,211. In addition, there were killed at

the Horotiu works for consumption in the Hamilton abattoii- district, 8013 cattle and vealer calves, 26680 sheep and lambs and 3199 pigs. Butter Handled The quantity of butter received was 3,291,023 boxes. During the year 145,1601 boxes which, under normal circumstances, would have come to the company’s works, were sent direct from Waikato factories to other destinations. This figure, added to the receipts above-mentioned, gives a total of 3,436,183 boxes which, compared with last year’s record total of 4,336,979, shows a reduction of 900,796 boxes or 20.75%. Cheese received amounted to 694,827 crates as compared with last year’s record of 409,372 —an increase of 285,455 crates or 69.75%.

Reducing buttei- and cheese to a butterfat basis, last year’s figures show a reduction compared with the previous year of 10.6%. In the aggregate, less produce is being held in the company’s works than was held at this time last year, From a storage point of view, the new season’s operations have commenced under favourable conditions. With the increased emergency accommodation which has been provided, we can quite reasonably assume that so far as storage space is concerned, no serious difficulty will be experienced in accommodating all the stock and dairy produce which comes forward. Our principal difficulties will arise from a shortage of labour- to handle the stock and other produce—also the drastic curtailment of motor transport caused by the tyre shortage. We experienced a good deal of trouble last season in securing an ade-

quate number of workers, especially at the height of the season, and we expect that greater difficulties will be experienced this coming season. Considerable organisation will be necessary, to regulate the flow of stock to the works to fit in with the capacity of the man-power available to deal with it.

In spite of the difficulties which will have to be faced, we, nevertheless, urge farmers to continue to produce, to the fullest extent possible, the products for which their farms are most suited, realising that our duty in this war is to provide to the greatest extent possible the foodstuffs required by Britain and to feed the troops of the Allied Nations which are putting up such a gallant fight for the freedom of the world and the creation of a new order which will ensure a lasting peace for future generations. 4 o The retiring directors, Messrs J- V • McAulay and F. K. Thomas, were reelected unopposed and votes of Thanks were accorded the directors and staff.