FARMERS’ FERTILISERS.

Waikato Times, Volume 114, Issue 19013, 2 August 1933, Page 6

FARMERS’ FERTILISERS.

MEETING ,OF COMPANY. _ YEAR’S SUCCESSFUL WORKING. DIVIDEND OF 5 PER CENT. AUCKLAND, Wednesday. At the annual meetihg of the New Zealand Farmers' Fertiliser Company, Limited, yesterday, Mr A. A. Ross, chairman of directors, presided. In moving the adoption -of the roport and balance-sheet, as previously published Mr Ross said it must be a matter of great satisfaction to the shareholders to note that the company had been able to show such a satisfactory profit in view of the worldwide adverse condition of affairs. Profit had been maintained at a level whloh justified the directors in recommending a dividend of 5 per cent, whioh was on the same basis as the previous year. ’ : Every effort was being made to create a greater demand for the company’s products, and the directors were sanguine that these efforts were along the right lines. Sound Financial Position. " Referring to the figures in the balance-sheet,” said Mr Ross, “ thenet profit for the year amounts to £13,281 9s 3d, to which must be added the unappropriated balance brought forward from last year of £20,342 6s lOd, making a total available profit of £33,623 16s Id. The payment of a dividend of 5 per .cent absorbs £13,099 15s, and leaves to be carried forward to next year £20,52a Is: Id,;or :£lßl 14s 3d more than that brought -I 'into 1 the 1 accounts. The reserve account of the company, with the unappropriated balance of profit carried forward, amounts to £40,52a Is Id, which should serve to show that the company is in a sound position. ’ The report and balance-sheet were adopted. Directors Re-elected. The following directors were reelected.—Mr Ross, and Messrs S. Irwin Crookes and M, Harding. Mr J. A. Duncan was reappointed auditor.