Canterbury Saleyards Co.

NZ Truth, Issue 1272, 17 April 1930, Page 19

Canterbury Saleyards Co.

(By "Fiat Lux.")

For fifty-six years this company has carried on its operations and the annual report and accounts for the year ended December 31, 1929, disclose a very healthy condition of affairs.

•yHE comparative balance-sheet given 1 below indicates a decrease m liabilities to sundry creditors of £1466 and an increase of £500 m the dilapidation fund, making it £19,500, or only £500 less than the total book value of

tomary dividend of 10 per cent.,. and the dilapidation fund benefits by . £500. The nature of the trading results over the past five years is shown by the following comparative statement: —

PROFIT AND LOSS FIGURES ' •

1925 1926- 1927 1928 1929 Net Profit 3,818 3,914 3,066 2,381 2,375 : Dividend Amount 2,000 2,000 2,000 2,000 2,000 Rate 1.'........ 10% 10% 10% 10% .10% .Reserves 15,954 17868 18,934 19,316 19,691

the freehold property and yards, buildings and plant. With investments totalling £17,437, the company is m the happy position of having its reserve fund m a comparatively liquid form and available for emergencies. ' A decrease of £1,317 is shown In Investments, whilst sundry debtors show an Increase of £337. Turning to the trading results of the year's' operations, the net profit is £2,375 compared with £2,381 for the previous year. The shareholders get their cus-

It will be seen that, compared with 1926 the nett results for 1929 show a drop of £1,539 and the 1929 result is slightly less than -for 1928. In the annual report the directors report that there has been a falling-off m night fees m the number of stock passing through the yards, the figures being, sheep, 753,354 (42,845 decrease); Pigs, 39,759 (2,434 decrease); cattle, 43,424 (1852 decrease). It Is satisfactory to note that despite the decreased turnover the nett profit was maintained. No recent public quotations of the shares have appeared, thus indicating that the shares are firmly held.

CANTERBURY SALEYARDS CO. LTD. Condensed Compartlve Balance-Sheet as at 31st December, 1929. LIABILITIES ASSETS ' £ £ £ £ Paid-up Capital .... 20,000 — Freehold Property .... 10,000 — Dilapidation Fund .... 19,500 • 500 Yards, Buildings, "Dip Profit & Loss A/c 1,191 t 125 and Plant 10,000 — Shareholders' Funds 40,691 ♦ 375 Investments 17,437 f1.317 Sundry Creditors .. 2,297 tM66 Sundry Debtors 7,413 * 337 Bank ...>. ./.'. 1,862 ♦ 111 ;, . \ £44,850 t 980 £44,850 f 980 ♦Indicates Increase, tlndicates Decrease as compared with 1928..