FALL IN COPRA VALUES
MORRIS, HEDSTROM’S YEAR,. No attempt was made by the directors of Morris, Hcdstrom, Ltd., to deal with the question of the depreciation in the value of assets in copra districts during the year to March 31 last. At the annual meeting, however, the chairman, Mr, J. M. Hedstrom, said that if present conditions continue for any longer period it may be necessary to deal with -that question. “It may,” he added, “be decided to devote the major portion of the reserves of the company to writing down the value of assets in districts which are dependent upon the copra industry. The company has a substantial proportion of its assets invested in districts which are not dependent upon the copra industry and in those districts prospects for the coming year are reasonably good. On tho other hand, it would be idle to hope for any reasonable return this year on capital invested in copra districts, although certain heavy losses in some of those districts which were cxpcricensed in the past year are not likely to be recurrent. ’'
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Bibliographic details
Wanganui Chronicle, Volume 77, Issue 156, 4 July 1934, Page 11
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180FALL IN COPRA VALUES Wanganui Chronicle, Volume 77, Issue 156, 4 July 1934, Page 11
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