PURE MILK COMPANY.

Dominion, Volume 3, Issue 930, 24 September 1910, Page 10

PURE MILK COMPANY.

LONDON CONCERN'S LOSSES. ■The'■report presented '.ii'i;! July at. the | -second annual general meeting of theLondon Pure Milk Association discloses a rather dismal/state ofalfairs. .'On top of the loss of '£7245 incurred in : the .previous- year ; a further loss of £10,322 ■' was.,sustained 1 in thovtwelve months .to March 26 last, .making ah aggregate deficiency-to,.date, of £17,567. Yet we are. told (writes Van Euglish contemporary) that tho. sale ■of ■ milk trebled during the past year. Apparently the more, milk'the association sells tho greater its.. trading losses.. The heavy debit balance representing-the loss.of more'than half, tho "paid-up capital is airily dismissed by tho directors with'the remark that : the greater i part, of "this ' apparent loss" should "be charged to capital account, as'it..was incurred by. creating "a valuable ; goodwill." , Of Wio.'. com' pany's total "assets, 'valued.at*£ss,l7ii, noiess than £23,501 consists of! shares in '■ subsidiary, enterprises, taken- at par. while, £1',567 .represents■the'"aforesaid debt; balance-and" £3623 : formation' expenses: •.. The liquid, assets fall; short of. the current liabilities, -including ~a : loau of; £8700, 'by;rnearyV£9ooo.W- T .--;; ;V :