MARKETING OF PIGS

Taranaki Daily News, 20 July 1935, Page 12 (Supplement)

MARKETING OF PIGS

progress of association. SURPLUS ON YEAR’S TRADING. Another successful year’s activities from both the marketing and the financial angles is reviewed in a report issued to shareholders and suppliers by the New Zealand Co-operative Pig Marketing Association Limited, covering its operations for the year ended May 31. During the year a total of over 111,000 nigs and 150,000 bobby calves was handled chiefly for export to the Umted Kingdom. The turnover for the period, of over £336,000, exceeded that for the previous year by £36,000. The income and expenditure account shows that after allowing for all costs and charges of collecting pigs, railage to works, loss jn condemned pigs, freezing charges, freight to Kingdom (including marine insurance), selling commission seas charges, also office and admmistraHon explisU-, £165,255 8s 7d remains available for suppliers. Advance payments made to suppliers following the delivery of pigs have accounted 'for £147,236 10s lid. This amount represents an increase on the company’s advance payments for .he previous year, on approxmm e y -m.;' same number of pigs, of over £8750. Thu is worthy of mention, since the average export parity values ruling for the peno were lower than those for the previous 7 hT December last a second and final nayment was made on pigs received from June 1 to October 31, 1934. Tins payment absorbed a further £5,346 7s 2d. Here again a comparison with the figure distributed at this jimeture the previous year shows an additional payment to suppliers of £4006 13s Bd. The usual provision has also been made for payment up to capital, and l-32d per pound on pork supplied has been appropriated to a special reserve fend for that purpose. This amounts to £l3lB 0s 7d. This appropriation, compared with that provided in last year’s accounts, has been reduced by half to enable an increased shareholders’ cash bonus to be paid on supply qualified ■by shares. This will therefore be increased to 3-32 d per pound, instead of the, customary payment of l-16d. This has been made possible by the strengthened financial position of the association. After full provision has been made for all the items mentioned there remains for a final distribution to suppliers on pigs supplied from November 1 to the end of May the sum of £11,354 9s lid. . The balance sheet shows that the association is in a sound financial position, with its assets remaining substantially the same as last year. Stocks in freezers are small, particularly in view of the large 'number of pigs handled. Most of the pigs held in store are merely awaiting delivery, either to United Kingdom buyers or to local curing companies. By reason of the liquid position of its stocks the association will be able to effect the final payment to suppliers on or about the date of the annual meeting.

To two retiring directors are Messrs. W. H. Allen and B. J. Pirrit, who have been re-elected unopposed.