FARMERS' LIME CO.

Wairarapa Daily Times, 11 December 1925, Page 3

FARMERS' LIME CO.

ANNUAL REPORT. The ninth annual report of the Farmers’ Mauriccville Lime Co., Ltd., to be presented at the meeting on December 10th, says:— “The company has maintained its sound position. The net profit for the year is £1314 10s 2d, an increase over last year of £350, while buildings have been written down to the extent ot £4OO more than last year, and the writing-off of £4OO from plant and machinery reduces the book value otthese assets to what is comparatively a nominal figure. Sales were increased considerably, but so were our wages and fuel expenses. Book debts are .somewhat less than at the end of August, 1924, and it has- been considered uiinccesary to make provision for any bad debts, all accounts -standing on the books being looked upon a-s good. Cash on deposit totals £5379. “Perhaps the most important decision made by vour directors during the year was to install electric power throughout the works-. After much discussion and review of the position, a contract has been let to Messrs •!. J. Niven and Co. for the complete electrification of the works, providing not only for the present requirements, but for a reasonable increase in the future. L is hoped to have the installation complete towards the end of .January. The present engine and -plant will be retained as a. stand-by, and a.s little delay as possible will be occasioned by the change over. The new power should greatly increase the elliciency of the works. \

“The question of installing a ‘filler dust’ plant has been under discussion, rt is felt that this would be a profitearning venture, but as it is somewhat of a departure from the company’s main object of supplying farmers with first grade agricultural lime, the directors decided to leave it for discussion at a future date. “Your directors have pleasure in recommending the payment of a dividend at the rate of 7 per cent on the paid-up capital. This will absorb £1047, and it is proposed to place the balance of unappropriated profit to reserve account.’’ The retiring directors, Messrs Howard Beoth and Q. Donald, arc eligible for re-election, and Mr G. Mb Bellar, the' retiring auditor, offers his services.