MUNICIPAL MILK SUPPLY.

New Zealand Herald, Volume LX, Issue 18380, 21 April 1923, Page 10

MUNICIPAL MILK SUPPLY.

WELLINGTON'S EXPERIMENT. STATEMENT -OF ACCOUNTS. [BY TELEGRAPH.PRESS association.] '■-."■ : *'' ; : , WELLINGTON. Friday. An unaudited balance-sheet of the corporation milk supply department was presented to the City Council last night by Mr. Norwood, chairman of the Milk Committee. Liabilities ' were shown as £117,329 6s 9d (including sundry creditors £11,774 4s, and depreciation £14,233 14s 4d. Assets, which, failed to balance liabilities by £2919 4s 9d included freehold property £36,245 ?' 6s 2d plant, £30,742 17s lid; motors and accessories, £6143 lis 3d; carts, £4212; -horses and harness, £1823 5s 2d; tokens and machinery, £2266 14s 9d: cans, bottles, and crates, £13,790 2s sd; stocks, stores, etc., £2935 lis 2d; sundry debts, £3273 17s 2d; cash, etc., £304 9s lid; office furniture, £650 3s 7d. U

Mr. Norwood said the balance-sheet* disclosed - the true condition - of the department's finances, and was not merely a document prepared to give a favourable impression. The department had previously accumulated reserves, so that r to-day it showed an actual debt of only £2919 14s 9d. It had provided out of working • account a large sum ■ for various reserves. So as to be quite sure that the department may be in a sound position the sum of £14,000 had been allocated to depreciation; £4701, for instance, off cans. ; and considerable sums off motors and plant generally. All items of plant not on a sound footing would thus be put there. Replying to the discussion, Mr. Norwood said he hoped the council would not stop short of making its milk supply the best in the world. It should aim at greater purity, and more and more economical working. .The department, since it had begun, in addition to paying full interest, had found; £42,000 on its working account,"" He mentioned 'that there had not been the 25 per cent, of breakages of bottles which had been anticipated. ,'i .;"■} : : •'j ■ \\ i