FOOD MINISTRY'S PROFIT
A QUARTER OF ONE PER CENT, ON HUGE TRANSACTIONS. •
The steps taken by tho Ministry of Food to maintain u proper supply of food for tho nation during tho financial year ended Alarch 31, 1918, are described in a White Paper issued recently. Mr. G. 11. Eouerts,. in a foreword, says tlio period was a critical one for the Ministry of Food, and states that tho report is .jonfinod 10 (ho financial period l'ur which certified, accounts are available. This period coincides with tho succossful launching of a, national system of rutiouing, and the fixing of food prices, which bore vory favourable comparison with those ruling among other nations of tins world. Xlicso results, ho adds, were principally duo lo tho unremitting labours and business capacity of his predecessors 111 office. '■ Tho figures show that on the trading account of tho Ministry there was a gross profit of <81,549,027 on «, total turnover of ,£40,278,571. . Against this figure wiia chaj'god the administrative expenditure of the Ministry including tho services incurred on its behalfby other Government Deportments, making a total uf .£1,415,664. Tho ilot prolit on the turnover was, therefore, <11133,363, or about a quarter of 0110 pei cent. These figures do not inciudo tho accounts of the Royal Commissions on tho wheat and sugar supply, and' also oxeludo the sum of *8243, M- paid to potato-growers us a subsidy. Reference is made to tho gradual expansion of tho Ministry, front tho first purchase of stn)o tons of Australian butter at a cost to tho gradual inclusion of various odjblo oils ujiu fats, condonsed milk, dri«i -fruits, bacon, cheeso, tea, eggs, cattle feeding-stuffs, and tho oontrol of meat. The whole of the llour mills also come under tho control of tho Government and were lator transferred to tho Ministry. Tho figures under roviow cover trading transactions ovor a period of only about eix months, and it may bo" anticipated that those'for the financial ,-ycsir ended Maroh 31, 1919, will show a , very large iioreaso. It is estimated that the turnover of the .'Ministry of Food dunng 191819 was approximately =£550,000,0011, or if tho accounts of the Boyiil Commissions on the wheat tuid 6Ugar supply aro included.
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Dominion, Volume 12, Issue 289, 2 September 1919, Page 5
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367FOOD MINISTRY'S PROFIT Dominion, Volume 12, Issue 289, 2 September 1919, Page 5
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