WAITOTARA LIME COMPANY

Wanganui Chronicle, Volume 85, Issue 228, 27 September 1941, Page 7

WAITOTARA LIME COMPANY

SATISFACTORY PROGRESS PROFIT FOR THE YEAR, £2250 The sixth balance-sheet of the Waitotara Lime Company, for the year ended July 31, 1941, shows that the company is making a splendid recovery and is now well on the way towards surmounting its difficulties. The directors report that the year's output was 28,402 tons of lime, an increase of 6358 tons more than the previous year. The net profit for the year is £2250 and the company has now reduced its deficit from £4877 to £2821. The Government loan of £1142 has been repaid. also unsecured creditors totalling £1393. The company spent £9643 on wages, salaries, maintenance, etc., £2992 on electric power and fuel, £6952 on quarrying, cartage, etc., £6012 for sacks and twine, and £2567 on commissions, fire and accident insurance, and other expenses. The balance-sheet is as follows: Liabilities Capital (£20,000 £1 shares, less unpaid,. £15.326; sundry creditors (secured £4087, unsecured £1531), £5618; reserves for taxes and bad debts, £247 —total, £21,191. Assets Buildings. £2314; plant and machinery. etc., £6786; leasehold, £2167 — total, £11.267; sundry debtors, £2899; stocks. £1258; cash at bank, £2167; preliminary expenses, £779; profit and loss account. £2B2l—total, £21,191. In view of the importance of the lime industry to farmers, the substantial progress made by this company in the past year is very satisfactory. The directors are Messrs. T. R. Anderson (chairman!, H. E. Blyde, F. Mourie, J. B. Congreve, A. Sutherland. D. Wards, and A. J. Old. The annual meeting will be held in Hawera next Monday.