CHELTENHAM DAIRY COMPANY

Wanganui Chronicle, Volume 74, Issue 278, 24 November 1931, Page 9

CHELTENHAM DAIRY COMPANY

OCTOBER PRODUCTION. The latest circular from the directorate of the Chelthenham Co-op. Dairy Company to suppliers (November 20) reads as follows: — Manufacture. “As indicated in our last circular, on account of adverse weather conditions, the output for October 1931 shows a fairly heavy decrease when compared with October 1930. The figures are as follows:—October 1930, 290 tons; October 1931, 251 tons; decrease, 39 tons. Last month’s manufacture is approximately the same as October 1929 when the output was 255 tons. Butter Market. ‘‘lt was hoped on the publication of the British elections that the market would strengthen, and no doubt such would have been the cuse nad not Australian butter been quoted for shipment during November down to as low as 105 s per cwt. landed terms. This quotation has had an effect on the market for New Zealand butter, with the result that prices have dropped back to 113 s pej cwt., London. Unemployment Amendment Act, 1931. “We are passing on information which has como under our notice with respect to the position of share milkers and the collection of unemployment relief tax—- “ Where share milkers provide labour only, notwithstanding that the remuneration may vary in accordance with returns received it is regarded as wages and the tax is collected by the employer. Where saare milkers are required to bear any expense in connection with the provision of stock, plant or other requisites, the remuneration is classed as income other than wages and the tax is not collectable by the employer.’ ” FARMERS’ CO-OP. DIST. COY. THE ANNUAL REPORT. “The profit and loss account shows a gross profit of £42,058 Jss lOd, and the expenditure amounts to £40,704 10s 2d,” states the annual report of the directors of the New Zealand Co-opera-tive Distributing Company Ltd., for the year ended September 30 last, which is to be presented by the chairman (Mr. T. Currie) at the annual meeting of shareholders at Masterton on December 9.

“The net profit after making full provision for bad and doubtful accounts and depreciation of plant, furniture and fittings, amounts to £1353 15s Bd, which with £1749 15s 3d brought forward from last year, and £1076 9s 8d transferred for the forfeited share account, gives a balance of £4lBO 0s 7d in the appropriation account; out of which it is proposed::—To pay income tax estimated at £80; to write £1230 off properties; and carry rhe balance forward. Owing to the lower prices ruling for all primary products, trading conditions throughout the year were very difficult, and although the volume of business was well maintained, and in the live stock department largely increased, the profits, especially in earnings from wool and stock commissions, suffered a substantial decline, but fortunately this was partly met by a considerable reduction in the expenditure. The directors regret that the net. profit was not greater, hut feel that the company is fortunate in having held its own through such a difficult year. The. retiring directors are Messrs. .T. J. Bryce, H. B. Maunsell and Wm. Perry, who are eligible and offer themselves for re-election. The retiring auditor. Mr. R. E. Lambert. F.P.A. (N.Z.). has been nominated and offers himself for re-election. ”