H—44

(h) Tobacco-growing Statistics 247. The following is a comparison between the season under review and the preceding years :

248. The above production figures represent the weight of leaf purchased from growers before redrying. Flue-cured leaf accounted for 93-2 per cent, and air-dried leaf for 6-8 per cent, of the 1945-46 crop. SECTION S.—NEW ZEALAND LINEN FLAX CORPORATION 249. The Corporation assumed control of the Industry on Ist April, 1946, and took over the fixed assets of the six factories at G-eraldine, Fairlie, Washdyke, Methven, Makihiki, and Winton. The purchase-price was £162,675, and the Corporation undertook to liquidate the remaining fixed assets and the current assets formerly held by the Linen Flax Section of the Department of Industries and Commerce. 250. The first financial period of the Corporation ended on 31st December, 1946, the balance date having been altered from 31st March to 31st December to facilitate the valuation of works in progress. The accounts for the nine months ended 31st December, 1946, now presented disclose a net loss of £1,536, which has been transferred to the liquidation account. The first crop sown by the Corporation was not harvested till early in 1947, and the loss experienced in the nine months ended 31st December, 1946—namely, £l,s36—was confined to the completion of the processing of works in progress on hand at 31st March, 1946—that is, the processing of earlier sown crops, many of which had been held for many years and were of very poor quality. This is amply demonstrated by the costing records, which show that, while the 1945-46 crops processed during the nine months yielded profits aggregating £8,500, the remnants of the 1944-45 and earlier crops were processed at a loss of £10,03(1 By an extension of the costing records of the 1945-46 crop to 30th April, 1947, the profit is shown to have increased from £8,500 to £II,OOO.

Approximate Cost of Paper.—Preparation, not given ; printing (1208 copies), £6B.

By Authority: E. V. Paul, Government Printer, Wellington.—l 947. Price Is.]

40

Season. Number of Growers. Contract Acreage. Amended Contract Acreage. Production (lb.). 1935-36 499 1,969 * 1,197,161 1936-37 508 2,770 * 1,609,493 1937-38 442 2,563 * 2,067,827 1938-39 342 2,225 * 1,423,610 1939-40 339 2,570 * 2,217,040 1940-41 381 2,963 * 3,143,355 1941-42 381 3,063 2,875 2,721,539 1942-43 360 2,960 2,907 3,185,183 1943-44 414 3,106 3,066 3,083,094 1944-45 487 3,383 3,303 3,286,067 1945-46 553 3,577 3,405 4,080,135 * Not available.