CROWN BREWERY COY., LTD

NZ Truth, Issue 850, 4 March 1922, Page 4

CROWN BREWERY COY., LTD

Report and Balance Sheet for Yea M Ending December, 1921. "■ _ -W - ■

"Cambist" regrets uia,t he is unabl to announce the numbp" 0.l years tha. this .concern has taken to reach it" present highly prosperous con'cWtioi t The report issuefl : by the directo >\ . quotes nothing- regarding "the cour J of time" and uutrly fails to give ai«." indication of a number. This is i matter that always raises regret or the part of this writer. There is s< much to be gathered from such records;4n compaii;: matters. "Why no< turn out a comp'u -. • job ?" is, all thai he will say on this occasion; m thesi ' respects. v . The capital of the \ company) is £90,---000. of which' £86,400 is issued, leav- : ing £3600 as unissued. What the nominal value of these shares i is is: not mentioned; neither isXanything put on record l-egarding such matters* as preference holdings, ordftiaries andY; so on. That the company shows it-K self as the owner of £235,374 worthr ' of splendid assets on so small a pair up capital- proves to this writer ho- .^ profitable a matter is a good hee j- 1 well sold and handsomely consume t j by a discriminating public' Of course j the paid-up capital is not . sufficien I for the ownership of these assets. Th 1 reserve fund, £ 105,000, explains '. : hov 1 •the thing is done." In other word I profits made m previous years hay I not all been distributed as they ac fl crued but. on the other handj the mor I prudent course of conservation ha fl been followed. This is- an eminent!' fl sound policy, and the glory of it cai I be seen m the fact of assets standing fl at nearly three times' the amount o- fl paid-up capital. All of this meai^ fl .wealth to the original shareholders ii ■ the company. It tells the sour-stom-M ached prohibitionist that for everjH £100 invested m this, concern : there il £300 of solid worth standing to th- 1 good after paying the fine dividend •■ -which thd shareholders have receive' M m former years. Beer is a sutijec Jfl that has been linked up with Britain' ■ greatness ever since the Empire too! I civilised shape and grew into the vas'H proportions of the present. NothinfjM h'etter can be pointed to, for the* pro%S motion of true temperance, than aH soundly prepared "glass of gbod beer.'"H and. the thoughtful consumption of tYjAW same. Naturally, it has followed thflH the gentlemen responsible for tr^H preparation of this fine balance she^H have, been eminent, m providing souv^H and sufficient drink for the thirst^H That is the key note to the large prr^^H fits, for they are based upon a widW| consumption of the amber fluid will^B the snowy foam whic v i the Crow Brewery turns out m hogshead anfl bottle. Freehold properties stand a**fl £66,536, leasehold at £2192, plant §.'.' £5036. These, items make a total >. £76,765. or £10.000 less than the pail up capital of thd company, which f~ wonderful, when one. considers tljl? the items mentioned are the essentia* of fixed capital m the business. iP\ . else are of a highly liquid charac? y and provide a total of £158,609. T#i. items are as follows : Secured debf*" £24,765; stock of beer, malt and hor> £26,842 ; current accounts and. jy.l* vestments £19,103; debentures jflfl, - cash deposits £ 40,200>| '■■' N.Z. Gov^fl ment Inscribed Stock £38,975 ; clP*' m bank £7402 ; cash m hand £13?f Profits, after writing off £17V I (mostly not required), including ?•■ carry forward of £5226 from the pr '•.<! yious year, .left £ 17,311 for distrib <Jbm tion amongst the lucky sharehold-eJ^H| Ten per cent, went to the latter MmmW ,£B67l"was carried forward. TheJ^HH of £10,000 was set aside to rnJ|H^H bankrupt conditions which Bifl^HHH sey' has brought about m the ion. That money goes to the^^HHßl Tax gatherer. It is well that taxation can be charged to th^^Hß^H ious beer drinkers at the PvesflHflH^flj for Old Bill- will not tax thefl^fl^Hfl the land. If the latter eou^^^^^H steered there might be on the side of the;' Kill Joys, bJ^^fl^^H the world has seen the idiocy hibitionlst intemperance we flHj^HB likely, to be influenced by Pusfl^H^H| m any shape or, fc-m this <^|^H|H election.