AUCKLAND FARMERS' FREEZING COMPANY

Dominion, Volume 11, Issue 296, 3 September 1918, Page 8

AUCKLAND FARMERS' FREEZING COMPANY

' .The report of "the- directors of. the ' 'Auckland Farmers' Freezing Company, Ltd!., which will he submitted to the fourteenth annual meeting of shareholders on Septeinher 26, states that the effects , of the war have been real-' ■ ise.d more acutely during the past year than during , any preceding year, and ■■ the shortage of ships for the transport of frozen, and general produce is now ' '■ '■ demonstrating how dependent the Dominion is on the regular export df the natural products'of the .country for .continuous prosperity. 'Reference is ■'.■ "inade.tp the.increased..shortage* ac.com- ,. .modation of..''the company,'. , the total ' capacity of the company's works now being equal, to .700,000 601b. carcasses. .An -arrangement las h.eeii , made, with the Ndrth Auckland Freezing Company . to erect'works in North' Auckland when the end of the war is in sight, and an '• agreement has been made with the Hamilton: Borough Council whereby the company's'! works at Horotin will ho gazetted/.'the-' abattoirs of tho borough of Hamilton. . The. concessions to clients on!"the"freezing of meat and, butterarid the chilling of cheese (luring yie:-year,- amounted; t0?£7000,.■ making • the'totftl concessions'-for the past three years £19,000.- , Alfter. providing for ■ . depreciation and income tax the profit for .the year, is shown as £22,711 14s. Id.; which, •.with .£2976;.35. 7d. brought forward from last-year; makes a total , of £25,683 17s.V8d. ■-Of this amount it is ;pr6pbsed : to-allocate £9500 for the payment of a dividend of 8 per cent.; . to add, £12,000 to! the reserve- fund, and;'to-carry forward £4186 17s. Bd. The: balance-sheet shows the working ■ for the year a/fter providing for depreciation to. ha-ve been £61,192 10s. Id.; The ; chief items' of expenditure were:—Salaries, directors' fes, and general:, expenses, £9860 17s. 10d.; rates; taxes/and interest, £28,575 2s. 3d.