FARMERS’ ASSOCIATION.
LOSS ON YEAR’S WORKING. (By Telegraph—Press Association.) ' CHRISTCHURCH, Friday. The annual report of the New Zealand Farmers’ Co-operative Association ‘Of Canterbury, Limited, states that the gross profit for the year amounted to £133,423, or £1796 less than for the previous year, a small reduction on a larger volume of business. The net loss for the year is £95,218. This includes £31,593 interest bn current accounts which have been suspended and not taken into profit; also £27,963 for loss on current accounts which have been closed during the year; and £61,000 which has been provided against losses which appear to he inevitable in the near future, less £25,338 which is the actual net profit on the year’s general trading. The association’s position with its hankers has rfgaln Improved during the year by £82,774. The losses made are on old advance accounts of farmer customers which "it was expected to nurse back again to soundness, but this has been frustrated by the depression.
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Bibliographic details
Waikato Times, Volume 114, Issue 19052, 16 September 1933, Page 3
Word Count
163FARMERS’ ASSOCIATION. Waikato Times, Volume 114, Issue 19052, 16 September 1933, Page 3
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