GEAR MEAT CO.
THE YEAR'S LOSS. Tlio loss sustained by the Gear Meat Company—the first set-back after series of years of substantial profits—emphasises the difficulties experienced by the freezing industry in the last twelve months. In 199"; 41. profit w;is £87,844, and th o aLiiT? net profit £75,738 a dividend ™ JO per cent, being paid. In 1926 the net profit was £64,574, and in Km + rose to £81,280, the dividend if the I latter year being increased to 11} cent., a distribution repeated last year when the net profit was £52,807 TH* year the profit is turned into a 1" of £33,495, or a difference of £B6 302 in the two years. Resets have been heavily called upon to meet the loss and pay the dividend-£15,000 from tl,< ; reserve fund and £.50,764 from the marine, hre, and accident insurance reserve. Comparisons of operation, are ;is lollows: 1!>B9. 193,,. Gross pvofil . . r>0,40.i f,^"ni7 Net profit .. 81,280 52'807 tS"? an* Dividend, p.r. uj , u ?. iv , i '^7. d - alnU 51.730 51,750 48,000 Liabilities— Capital .. 4K0.000 460,000 Sundry creditors . . r>7,153 92 508 Reserve fund . . 30,000 la'ooo Alarinc, firo and ncci- ' dent reserve fund 72,427 10 000 Profit and loss account 54,008 31 027 Assets—- ' Properties and plant . . .">7,000 57 000 Sundry debtors .. 3 02,345 344000 Stocks .. 41,599 59,034 inscribed stock, debentures, deposits, and money at short call 454,44 1 I Debentures and in- | scribed stock . . Money at short call . . - - 90^000 _ B '\ nk " f t N Z - -• 30,429 10,648 Profit and Loss— Balance from 1028 . . 30.4 M 16,008 Transfer fees '29 'ls Profit on sales, manufactures, and interest on investment* 62,98 8 Amount transferred from reserve .. —• 15,000 Amount transferred from marine, fire, and accident res. fund . . 50,764 £93,408 £81,788 t Loss. SOUTHLAND SUMMER SHOW. CHAMPIONSHIP AWARDS. (PRESS ASSOCIATION TELEGRAM.) INVERCARGILL, December S. The Southland Agricultural and Pastoral Association's sixty-fourth summer show opened to-day under ideal weather conditions, following a long spell of unseasonable weather, which, however, apparently had little effect on the condition of the stock on exhibition. The cattle, in particular, looked very well, and the specimens of the popular dairy breeds were sleek and in full show condition. The display of sheep was quite up to the usual high standard, and competition among the breeders, soma from Canterbury, was very keen. The prospects for People's Day, to-morrow, are very bright, and a record crowd is expect ed. Following are the sheep and cattle championship awards: — Cattle. Hereford bull; <T. A. Kduards, Olikorania; cow, J. A. Edwards. Shorthorn hull: J- A. Johnstone, Palmerston; ' cow, J. A. Johnstone. Milking Shorthorn bull: J. Bateman, Invercargill; oow, J. Batsman. Poll bull: C. S. Young, West Plains; cow, J; Donaldson. Jersey Bull: P. J. Hellyer, Dunedin ; cow, T. Portis, Oamaru. Kriosian bull: J. Browne. "Waianiwa ; cow, W. Y. Dickie and Sons, Ferndale. Ayrshire bull: A. M. Weir, Menzies Ferry; cow, A. M. Weir. Sheep. Corriedale ram: J. A. Johnstone, Palmcrston ; ewe. J. A. Johnstone. English Leicester ram: W. J. Jenkins, Sheffield, Canterbury; ewe, W. Kennedy, Otautau. Ryeland ram: P. Walker, Palmerston ; ewe, A. Officer. Rosedale. Shropshire ram: W. Kennedy; ewe, W. Kennedy. Southdown ram: A. W. Pannett, Clinton; ewe, A. W. Pannett. Romney Marsh ram: R. Yardley and Sons, Moa Flat; ewe, A. King, Balclutha. Border Leicester ram : T. S. Little, Oamaru ; ewe, T. S. Little. RANGIORA MARKET. The entry of rhcep and lambs at ttlie Ranffiora market yesterday totalled 70S. Tlier® was a fairly good supply of butchers' sheep, in Email lots, which Bold at ruling Tallies. The sa'es were: —Seven fat ewea at Jf-5 4d, 7 at ISs lCkl, 7 at 17s Id, 5 at 10» 12 at 163, 9 at. 14s lid, 6 at ISs, 10 at l.'s lOd, 2 at 10s 6d, 10 wethers at 10s sd, 30 rt 10s, 10 at 10s lid, 10 at 10s Sd, 2 ; lambs at '2"2 U. 1 at 25s Id, 1 at 21s 3d, 80 ewes and lambs at 9s Id, 7G at Bs, and 111 at 9s About 30 head of cattle were yarded, the greater numbei beinp young stock. A Jersey cow sold at £i 15s, a fat heifer at £ll, store cows at £1 to £5 10s, yearling heifers at £2 to £3 7s 6d, and bulls at £1 10s to <C4. The entry of pigs numbered about 90. A porker sold at £3 7s, stores at 2Gs to 30a Gd, weaners at 23s to 255. In the poultry section roosters sold at 5s fid per pair, hens 3s 6d to 4s 6d, and ducks 2s. Produce—Chickwheat brought 23s a ba£ and seconds 16s to 18s, meal 18s, oatsheaf chaff 6s, potatoes 4s, cabbages 6d to Is ft dozen, cauliflowers Gd to Is, spring onions Is dozen bundles, small tomatoes Gd lb. Skins, etc—Halfbred sheepskins realised sn, crossbred 4s, hoggets 2s 6d, pelts Gd to Bd, calf3kinp 2a 6d, hides 2&d lb, dead and damaged wool Sd, crutchings 2d, locks and pieces Id, fat Id, horsehair Is. ASHBURTON STOCK SALE. A brighter (one characterised the fat sheep market at the fortnightly sale at Ashburtcn ycßtCrday. The sales were: Fat Ewes—Eighteen at. lis 4d, 20 at 8s 4d 4 at 14s 4d, 7 at 17s 4<l, 7 at 19s 4d 7 at 13s Id, 7 at 34s Id, G at 14s, 7 at i2a 10d. Shorn: 6 at 9s 4d, 2 at 34s lOd, 8 at 12s Id" 8 at 12s lOd, 9 at 12s Id, 7 at J2s Id 5 at 153 Id, 4 at 14s Id, 5 at 15s lOd 7* at 133 30d. 7 at 16s 3d, 5 at lGs 10d 4 at 19s Id, 5 at 18s Id, 6 at 17s 4d ' 1 at 16s 7d, 5 at 13s Id, 9 at 18s 7d, 6'at los 4d, 4 at 17s lOd, G at 16» lOd, 5 at 13s 4d Fat Wethers—Four at 26s Id, 5 at 233 4d" 5 at 28s 3d, 3 at 22s lOd, 9 at llg lod' 9 at 10s lOd, 5 at 15a 4d, 2 at 2°s 7d' G at 203 7d (shorn), 9 at~ 18s 10d " 5 at ISs lOd, 12 at 18s lOd, 10 at 18a 10d' 10 at 193 Id, 2 at. 19s Id, 4 at 21s Id, 9 at 19s id Lambs—Two at 16s Id, 2 at 21 a lod 3 at 18s lOd, 4 at 22s 4d, 2 at 20s 7d ' 4 at 19s Id, 5 at 19s lOd, 2 at 15s lOd. Store Sheep—Several pens of stores were yarded, but there was no demand, all beine passed in at auction. Cattle —Fat cows: One at £lO 10s 1 at £3l. 1 at £8 ss; fat heifer £5 3 0s; Jersey bills (yearlings) 22s Gd each, calf 27a 6d
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Press, Volume LXVI, Issue 20107, 10 December 1930, Page 12
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1,118GEAR MEAT CO. Press, Volume LXVI, Issue 20107, 10 December 1930, Page 12
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