FARMERS' COMPANIES
Uur (Jwn Correupuuilent.)
Their Rise from the Depression BRIGHTER PR0SPECTS
(From
AUCKLAND, Last Night. The production season which has recently closed has been a peak year ' in the export history of New Zealand, and this has been reflected in the improvement in the position of th* farmers' co-operative trading companies in the Dominion. Although, as in; other industries, there is a marked increase in costs ahd wages, this extra burden is generally being met by greatly increased turnover. The majority of shares in these com* panies have shown an upward tenctency. The position Was summed up by Mr. A. McKellax, chairman of directors of the New Zealand Farmers' Co-opera-tive Association of Canterbury, Ltd., which has not made an ordinary distribution for many years. He said tbat what looked like a permanent lmpossibility a few years ago was now becomlng probable. The low level of profits of six of the leadjng companles in the depth of the depression. and the marked improvement 'in the past two years ara sliown in the following table: — .
Whereas in 1932 only one of the six. companies seleicted, " the Hawke's Bay Farmers' Co-operativ& Association Ltd. paid1 an ordinary - dividend, £ or tha linancial year ended jn 1937 only the Wairarapa Farmers' Oo-operative Association Ltd., and the New Zealand Fatrniers' Co operative Association, of Canterbury, Ltd., faded to make distributions. " Tbo average of ordinary cividends for the six companies in '1937 was 3 2-'3 per ce.it., against 3 1-3 pef cent. in 1936 and 2-3 per cent. jn 1932. The outlook overseas for meat, butter, cheese and wool appears brighf and this, in tuiUj must be reifiected ia impro/ed prospects for the conjpanies; Production of meat and butter is exjSanding and, provided no major upset occurs in the overseas position it would appear that further recovery. may b© expected in. the earnings of the companies.
1932 1936 1937 £ £ £'. Farmers' Auct. 5,651 42,526 60,593 Nth. Auckland 2,354* 5,128 7,011 N.Z. Farmers' 111,021* 46,450 47,074 Can. Farmers' 33,826* 17,114 22,291 Wairarapa .... 16,188*10,225 16,901 Hawke's . Bay .7,178 19,540 18.763
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Hawke's Bay Herald-Tribune, Volume 81, Issue 7, 1 October 1937, Page 8
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340FARMERS' COMPANIES Hawke's Bay Herald-Tribune, Volume 81, Issue 7, 1 October 1937, Page 8
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