FARMERS’ CO-OPERATIVE DISTRIBUTING COMPANY

Wanganui Chronicle, Volume LXXXII, Issue 19462, 23 November 1925, Page 9

FARMERS’ CO-OPERATIVE DISTRIBUTING COMPANY

YEAR’S WORKING REVIEWED. STATEMENT OF ACCOUNTS. The annual report and statement of accounts of the New Zealand Farmers’ Co-operative Distributing Company, Ltd., has just been issued, and discloses a very satisfactory return for the year’s operations, as well as a marked improvement in the company’s position. Reviewing the figures for the twelve months ending September 30 last, the turnover shows an increase of £131,591. (excluding land sales). A very pleasing feature is the fact that, while gross profits have increased by £3593 10s 4d, working expenses are less by £4784 15s 6d. After writing £5OO off the property account, and making substantial provision for bad and doubtful ac-

counts, also for depreciation on plant and stocks and buildings, the profit and loss account shows a ndt profit of £5,074, 10s 2d.

Capital account stands at £163,690 18s 9.1. an increase from last year of £25,575. Other liabilities show very substantial decreases, and the following comparative table of the company’s liabilies in 1923 and at the present time, should hearten the shareholders regarding the improved stability of their co-operative concern:—

1923. 1925. creases Bank Overdraft .. .. 55,036 21.359 33,677 Deposits 20,141 15,272 4,869 Debentures 9,830 7,094 2J36 Sundry creditors (including amounts reserved for shareholders’ rebates and int. on calls paid in advance) .. 34,552 27,271 7,311 Bills payable 428 428 £120,017 £70,996 £49,011 Throughout there is evidence of practieal consolidation of the Company’s affairs, and the careful and conservative policy adopted by the directorate and management has brought its reward. This year the annual meeting is to be held at Masterton on Wednesday, November 25, in the A. and P. Association’s rooms, at 2 p.m.