FARMERS' FERTILISER

New Zealand Herald, Volume LXXI, Issue 21844, 5 July 1934, Page 7

FARMERS' FERTILISER

RISE OF £4436 IN PROFIT DIVIDEND AGAIN 5 PER CENT TRANSFER TO RESERVE £4OOO The accounts of tho Now Zealand Farmers' Fertiliser Company, Limited, for the year ended May 31, show a net profit of £17,718, an increase of £4436. The company is maintaining its dividend at 5 per cent and is .transferring £4OOO to reserve. _ The balance brought forward fro'm the previous year was £20,524, making £38,242 available. The dividend absorbs £13,100 and, after the appropriation of £4OOO, the carry-forward is £21,142. A feature of the accounts is the rise in gross profit of £BOOO to £74,036, tho directors commenting on tho marked improvement shown in the turnover. They state that stocks have been carefully valued and due allowance has been made for any likely fluctuations in value. Full provision has been made for depreciation. Reference is made to tho death of Mr. J. S. Connett, a member of the directorate, and tho report states that Mr. J. Wilson has boon appointed managing-director, thus filling the vacancy. Tho directors retiring, Messrs. It. D. Duxfield, H. R. Mackenzie and G. T. Bayly, are available for re-elec-tion. Following is o. comparison of tho company's results and appropriations for

The balance-sheet total shows a reduction of £53)748 to .£483,900. The outstanding movement in liabilities is in the amount owing to the bank, which , has been reduced by £76,084 to £118,802. Open 1 accounts are increased by £7698 to £23,520 and'sundry creditors are higher by £9744 at £19,874. Paid capital is unchanged at £261,995, reserve fund being £IOOO higher at £24,000. ' There has been a considerable decline in stocks, which, at £45,847, show a reduction of £63,512. Sundry debtors are higher by £22,518 at £45,001, while fixed assets are reduced from £405,736 to £392,982, PACIFIC BUILDING, LTD. LOSS AGAIN INCURRED After the provision of £I4OO for depreciation on building, the accounts of Pacific Building, Limited, show a loss of £2033 for the year ended May 31. This compares with a loss of £1985, including provision for £I4OO for depreciation on building and £297 _on furniture and goodwill, in the previous year, l'he past year's loss increases the debit in profit and loss account to £5896. The gross receipts from rents were £5198, against £5495 in the previous year. Expenses totalled £6343, compared with £6325. The directors state that the depressed condition of trade has resulted in a further reduction in the company's income, total rentals having declined by about £3OO. No dividend has been paid by the company since 1925, when 4 per cent was distributed. The paid capital of the company is £55,224. INTEREST RATES DOWN RURAL BANK'S DECISION SYDNEY. July 4 The commissioners of the Rural Bank announce that they will reduce the interest rates to borrowers to a maximum of 4£ per cent. This decision affects more than 40,000 clients. In 1931 the interest charged by the bank ranged up to 62 per cent. AUSTRALIAN FLOUR

CANADA'S ATTITUDE

OTTAWA, July 3

" The Canadian Government has the matter of Australian flour shipments to Canada well in hand and is receiving the warmest co-operation from the Australian Government," said the Minister of Trade and Commerce, Mr. H. H: Stevens, in the Houso of Commons to-day.

NORTH AUCKLAND LIME

DIVIDEND OF 5 PER CENT The report of the North Auckland Co-operative Limo Company, Limited, for the year ended May 31, shows an amount available for appropriation of £617 '.los. The directors recommend the payment of dividends of 5 per cent on preference and ordinary shares, requiring £317 10s, and leaving £330 to be carried forward. The directors state the, buildings and plant have been maintained in good order. Twelve debentures were redeemed during the year, reducing this | liability from £1425 to £1125. Tho retiring directors, Messrs. G. A. Storrar and N. Finlayson, arc available for reelection. At the annual meeting on July 19, a motion will be moved proposing to change the name of tho company to the Waikiekia Lime Company, Limited. CLEARANCE AT PERIA MORSES AND JERSEY COWS [from our own correspondent] HAMILTON, Wednesday The Farmers' Co-operative Auctioneering Company. Limited, report having held a clearing sale at Pcria on account, of Messrs. Crabb Bros., yesterday. There was a good attendance of buyers, and a good demand /or quality young cows, prices being very steady throughout the bale. The 104 cows offered, including unsound cows, averaged close on £5 each. The line of nine draught horses was one of tho best submitted for some time. Bidding was exceptionally keen, and the whole line averaged £42 3s Id per head. Quotations: —Five-year black gelding, £'ll 10s, purchased by Mr. Donald (Tatuanui) ; five-year bay gelding, .£'lß 10s, by Mr. F. Brown (Waitou); five-year bay gelding, £■lo, by Messrs. Chambers Bros. (Tokoroa): nine-year bay gelding, £43, by Messrs. Chambers Bros.; four-year bay gelding, £43. by Mr. C. Ilazellon (Waihou); five-year bay geldinK. £-11 10s. by Mr. Weir (Tiran); eight-year bay mare, £36, by Mr. M. Finnegan (Kercpechi) ; live-year bay gelding. £45, by Mr. T. Pa ton (Waharoa); eightyear brown gelding, £33. by Mr. M. Harrison (Tirau). Good pedigree Jersey cows, without transfer, realised £7 to £11; older pedigree Jersey cows, £3 103 to £6; young Jersey cows, close to profit, £5 15a to £8; Friesian cows, close to profit, £5 to £5 15s; more backward cowa, £3 10s 1o £4 15s; unsound cows. £1 15s to X'2 10s. A lino of 16 Jersey heifers (springing) realised £4 0s 3d; yearling Jersey heifers, choice, £2 ss; pedigree Jersey bull, 15gns; two-year Jersey bulls, £4 10s to £6. Sows, with litters, brought £3 5s to £5 ss; Tamworth-cross sows, well forward, £i 5s t.O £4 7a Gd; more backward and older Tam-worth-cross gows, £2 to i' 3 6s,

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