TOI TOI DAIRY FACTORY.

Otago Witness, Issue 2896, 15 September 1909, Page 21

TOI TOI DAIRY FACTORY.

The directors, in submitting to shareholders the balance sheet for the year ended 31st August, say the increase of the output of cheese was" 10£ tens, the total manufactured being 42£ tons. The export portion was sold at a very satisfactory figure, and (with a final payment to be made) th« suppliers will have received within a small fraction of 13d per lb for bu/tter fat. It was thought necessary, in the interests of the company, to make new financial arrangements, and the directors have transferred the company's account to the Bank of New South Wales, Invercargill. The transfer increased the expense account by £17, but it will be non-recurr«nt. The directors recommend that a dividend of 6 p&r cent. be paid on the paid-up capital of the company. In accordance with the articles of association, two directors retire at this time— namely, Mr Henry Stirling and Mr Geo. Morton— both being- eligible, they offer themselves for re-election. The balance sheet shows that £1963 7s 10d was paid for anilk, and £2353 4s 7d received for cheese.

WANGANUI

FREEZING COMPANY

A GLOOMY REPORT

WANGANUI, September 13. The Wanganui Freezing Company's balance sheet for the past year has just been issued- The directors, in presenting the balance sheet, say the past season has been the worst since the commencement of the frozen meat trade, some 30 years ago. This has been brought about by the persistent fall in prices, followed by the utter collapse of the English market. The balance sheet shows that after paving the authorised dividend (£2762 15s 7d) the company commenced the year with a credit balance of £2650 5s 2d to profit and loss account. During the year the whole of

the reserve fund (£6000) -was transferred, but notwithstanding this there was a deficit of £6824 15s 7d, making a total loss of £15,476 10s Sd for the year.