C.F.C.A.

Timaru Herald, Volume CLVIII, Issue 23318, 29 September 1945, Page 7

C.F.C.A.

Successful Year £34,000 Net Profit Reviewing the work of the Canterbury Farmers’ Co-operative Association top the year 1944-40, the chairman of directors (Mr Andrew Austin) told the annual meeting of shareholders held in Tlmaru yesterday that a net profit of £34,054 had been earned, an increase on the previous year of £1375. Mr Austin said that the gross profits reached the sum of £150,601, chiefly attrioutable to an increase in turnover of £105,473, the total turflover being £1,469,300. It was remarkable that the Association’s business showed an even degree of increase at Timaru and all branches, thus showing the value of its comprehensive service throughout South Canterbury, and mainly to the farming community. On tne debit side of Profit and Loss Account there was an increase in expenses of £10,376 at £116,556, attributable chiefly to the increased turnover, to necessary increases in salaries and wages of £3154 according to awards made by the Court of Arbitration, to interest £1367, and miscellaneous charges of £BBO due to increased business. Depreciation had been provided on buildings and plant in the sum of £6269, and he would give the Board s assurance to shareholders that the Association's properties and plant were maintained in first-class order. On the assets side he submitted their freehold properties at £120,357, leasehold properties at £5959, and furniture, fixtures and plant at £34,852 as very conservative values and only a tithe of cost of replacement. They were fortunate that over the years much care had been devoted to that aspect of their business. Ledger accounts, advances, auction and goods at £156,979 showed an increase of £10,798, due chiefly to increased business. Merchandise stocks at £212,627 showed a decrease on the year of £9034, and with the end of the war he considered they were indeed fortunate that they had been enabled to keep supplies available to the public. There had been a good deal of anxiety incurred in the very difficult trading conditions throughout the war. War Loan investments amount to £55,218, bank credits to £28,357, and it was noteworthy that during the six war years they provided £126,097 in direct taxation. Wool “For the sixth successive season the wool clip was disposed of under the appraisal system and this coming season will find this method used for the last time,” Mr Austin said. "In the early part of the season the wool came in in splendid order, all sheep having wintered well on account of a plentiful supply of suitable feed. The wool was well grown and sound, although in heavier condition than the previous season. Abnormal rains in December held up shearing, but notwithstanding the bad conditions, the fleece wool came to hand in better condition than was anticipated, although more matted wool came to hand. As was to be expected, the bellies andi pieces were affected and were not up to the previous year’s standard. “The South Canterbury figures for last season were as follows: Av. Bales Average Per Sold. Net. Amt. Per Bale. Lb. £ £ s. d. 1943- 41,716 778,038 18 13 0 13.8 1944- 49,801 939,239 18 7 2 13.95 “The season just passed is a record one for this Association, and shows that our careful attention to this side of our business carries the confidence of our large clientele. “We take this opportunity of thanking our many clients for their continued support and trust that the coming season will be a successful one for them. Mutton "Farmers have just experienced one of the worst seasons in memory,” continued Mr Austin. “Owing to the fact that ewes had wintered exceptionally well, we experienced a heavy lambing, but this good start was offset by very wet conditions which prevailed until the end of December and told against lambs doing well on the mothers. January was also wet. the feed being too growthy and lacking in substance; as a consequence lambs were slipping back instead of putting on weight. The weather picked up early in February, but fell away later, and the end of the season was no better than the beginning. The total number of lambs and sheep killed showed an increase over the previous year and weights for lamb showed a slight decrease; on the other hand the sheep averages were a little heavier. Both works in South Canterbury have had a complete clearance, and no trouble will be experienced as far as storage for next season is concerned,” said Mr Austin. “This last season will not be forgotten by farmers for a long time, and I hope that pur next report will be a more cheery one. Grain and Produce “Wheat.—The estimated area sown was 187,000 acres,” Mr Austin said. “In the early part of the season crops looked very promising, but unfortunately at harvest time continuous rain for days on end resulted in heavy flooding. Both standing crops and wheat in stock were badly damaged and sprouting was general. Despite this, millers accepted most lines, and with a demand from the North Island for fowlwheat, the balance was disposed of. ' Prices paid were: Tuscan 6/5, Hunters 6/71, Velvet 6/91 for February/March delivery, with an increment of Id a bushel in April/May/June, and Id in August/ September, f.o.b. growers’ nearest port. “Oats and Chaff.—The estimated area sown was 235.000 acres with a yield of approximately 48 bushels. The same harvest conditions applied to oats. In the early part of the season there was a good demand from both millers and the North Island, but at the present time oats were unsaleable. In June there was a market in Australia for our surplus, but unfortunately we could not get permission to export. The price for Garton oats was fixed at 3 8 per bushel 0.T., up to 7/- was paid for Duns, and Algerians ranged from 5/- to 6/-. A good demand lias existed for g.b.o.s. chaff, but most lines did not come up to this quality, and there is a proportion of discoloured and damaged chaff on hand which is hard to place. “Peas.—The bad weather experienced from March onwards adversely affected the pea crop and yields in all cases were poor. In some areas peas were not harvested. Partridge peas were 7/6 a bushel and Blue Prussians 10/-. "Barley.—44,ooo acres of barley were sown. Practically all lines were grown under«icontract to maltsters, the price being Rhe Government fixed one of 5/6 for stack threshed and 5/2 for wmdrowed or stook threshed. “Potatoes.—The South Island area was 31,500 acres. Here, again, climatic conditions were most unfavourable.The interruption of digging interfered with supplies to the North Island and also the shipments to Overseas Forces. The yield in all cases was very much below the average. Prices were £7/15/f.0.b.5.i., for FAQ, Whites and Dakotas, with a premium of 10/- for Aucklanders and King Edwards. Prices were increased by £1 per ton on July 1, and a further 15/- on August 6. “Linseed.—Last season nearly 5000 acres of linseed were grown oh’ contract with the Dominion Industries, Ltd The quality was fair, but here, again, the bad season had everything to do with the undergrade lines delivered. The contract price was £25 per ton on trucks. For the coming season contracts are again available on the basis of £27/10/-. Specially selected seed is available.

Defeat of Axis Powers “This is our first meeting since the defeat of the Axis Powers. It has been a long-drawn-out period of six years at terrible cost of valuable lives, material and money, and it can only be hoped that peace settlements will be such as to preclude a repetition of such a position again arising. The transition to peace calls for the greatest and wise statesmanship and full protection for the future.

“The adjustments to peace affect the whole world, and this country will be involved very considerably. There is the call to production in New Zealand, which we must not neglect, to help provide food for millions of people that are in great want and undergoing much suffering. We must not forget Britain’s finest hour in 1940 when she stood alone against the hordes of barbarism making it possible for the Allied Powers to eventually win out. We have experienced a hard winter in that climatic conditions have been very adverse. Even so the country looks well and stock is prospering. Given reasonable weather from now on there should be

good production, but we most certainly will be short of wheat in the coming year. “In conclusion I beg to express the Board’s appreciation of the strong and loyal support of shareholders and customers of the Association through the year, and we in turn will not relax in our endeavours for the continued success of your Association. “I would tender also our best thanks to the general manager, branch managers and all executives and staff for their splendid work in the past year that we are now considering,” Mr Austin concluded. The retiring shareholder directors. Messrs A. Austin and P. Kidd, were reelected, there being no other nominations. After an election, Messrs J. Dempsey and G. B. Baker joined the stockholder directors. A tribute to the work of the secretary and general manager, Mr A. M. H. Shirtcliff, was paid by the chairman, who said that Mr Shirtcliff had completed 50 years of service with the Association and at all times had served them well. Mr G. Wills, on behalf of the shareholders, thanked the staff of the Association for the work done during the year—P.B.A,