DIVIDEND OF 6 PER CENT

Gisborne Herald, Volume LXVI, Issue 19990, 15 July 1939, Page 10

DIVIDEND OF 6 PER CENT

HAWKE’S BAY FARMERS OUTLOOK NOW OBSCURE (Per Press Association.) HASTINGS, this day. A recommendation that a 6 per cent dividend should be declared on the paid-up capital, was made by the directors at. the annual meeting of the Hawke’s Bay Farmers’ Co-operative Association,’Limited, at Hastings yesterday.

' The report stated that, after allowing for ,the payment of rebates to shareholders of 121 per cent on various commissions contributed, and 2 per cent on goods purchased and making provision for depreciation and reserve for income tax and social security tax, the balance of profit, including £12,856 7s 4d brought forward from last year, amounted to £27,059 15s lOd. Tiie chairman, Mr. J. W. Harding, said that though the position was not so igcod as last year, they should congratulate themselves on the measure of returns from the year’s operations. The outlook at present was most obscure and he would not af’empt to forecast the course of the current year's operations. The directors and staff would, of course, make every possible effort to maintain a high standard. NDHAKA CLEARING SALE DAIRY COWS TO £9/12/6 Messrs. Williams and Kettle. Ltd. report on the clearing sale conduct' on behalf of Mr. Stuart Symes c ; Nuhaka on Wednesday. The cows came f orward in very good order, and though the attendance was small, buyers were present from Gisborne, Hawke's Bay and Pahiatua. Bidding was keen c.r the higher producing tcows, but was well sustained throughout, and there was practically a total clearance! as follows: — Calved cows.—Best, £7 to £8 12s Gd; others, £4 15s to £6 10s. Cows to calve. —Factory dates, £3 to £9 12s Gd; later calvers, £5 10s to £7 15s; backward and unsound cows, £3 15s to £5; heifers, £5 15s to £7 15s.