FARMERS’ FREEZING COY.

Sun (Auckland), Volume II, Issue 418, 1 September 1928, Page 12

FARMERS’ FREEZING COY.

SATISFACTORY TRADING YEAR INCREASED KILLINGS An increased turnover in several departments is revealed in the annual report of the Auckland Farmers’ Freezing Co., Ltd., for the season 1927-28. Lamb killings increased by 26,581, or 20/6 per cent., compared with the previous season’s record, but, as was the case throughout the Dominion, killings of mutton were comparatively small, being _ less than the previous year's by 10,250 head, or 41.3 per cent. There was an increase of 29,388, or 117 per cent., in the number of pigs killed. Killings of grown cattle increased by 5,240 head, or 68.5 per cent., but the year’s total, it is pointed out, is considerably below the annual killings of cattle a few years ago. The number of ordinary veal calves killed was 1,648 more than last year, and as a result of the inception ‘ of the new “bobby” calf trade, 31,599 young calves were dealt with. Following is a comparison of the returns for sheep and cattle during the last three years, and previously at five-yearly periods:—

In addition to the export stock there were slaughtered at the Horotiu abattoir for local consumption 15,753 sheep, 2.75 S i a P?o S * cattle, 500 vealer calves and 1.742 pigs. Heavy Volume of Dairy Produce In spite .of the unusually dry season, the quantity of dairy produce handled was only very slightly less than during t “ e P revious record season. In the case ot butter, the previous season’s figures were exceeded by 11,079 boxes, but the cheese returns were less by 24,552 crates. Following are particulars of the receipts ot dairy produce at the company’s stores during the last three years and previously at five-yearly periods:—

Year ending Butter. Cheese. June 30. (boxes.) (crates.) 1906 62,740 1911 .. .. .. 276,275 9,579 1916 517,921 65.243 1921 766,414 155.805 1926 1,571,502 162,742 1927 1,906,994 181,807 % 1928 1,918,073 157.255

A large quantity of fruit was again held in cool storage for local consumption between the seasons and the amount exported was considerably greater than during the previous season. The directors note the reduction of the killing charges on beef, mutton and lamb at the beginning of the season in anticipation of increased killings was fully justified and that in spite of a considerable reduction in revenue from dairy produce on account of the comparatively small amount of storage done beyond the first month of the season, working profits were well maintained and a slightly increased net profit shown. The buildings and plant were well maintained at each works, the report states. Minor improvements were effected, but capital expenditure was low. enabling a further reduction of the bank overdraft to be effected. Usual Dividend Rate The profit for the year was £14,860 17s 6d. which, with the balance of £2,554 4s 7d brought forward makes £ £17,415 2s Id available for appropriation. The directors recommend payment of a dividend of 6 per cent., absorbing £12,322 12s and leaving a balance of £5,092 10s Id to be carried forward. Following is a comparison of the company’s results for the last three years:— 1925-26 1926-27 1927-28 Brought forward . £3,717 £358 £2,554 Net profit 5.582 14,472 14,861 £12,299 £14,830 £17,415 Dividend, 6 p.c. . . 11,941 12,276 12,323 Carried forward . £358 £2,554 £5,092 The balance sheet shows assets valued at £375,383. Following are the Items, with last year’s figures in parentheses: Land, building and plant at Auckland, Horotiu, Moerewa and Southdown, £337,636 (£363,206): stock and stores, £14,370 (£18,497); sundry debtors, £23,300 (£25,611); cash in hand, £77. The item New Zealand Government bonds £8,200, has disappeared from the balance sheet, the securities having been disposed of at a profit and the amount carried direct to the general reserve account. The liabilities, against last year’s figures, include paid-up capital £205,600 (£205,095); general reserve, £54,966 (£53,462); Union Bank of Australia, Ltd. £56,134 (£96,038); sundry creditors, £40,950 (£45,767). The retiring directors, Messrs. S. J. Ambury, E. M. Edkins and C. Nisbet, are re-elected unopposed. The annual meeting is scheduled for September 2S. LONDON MARKETS BANK OF ENGLAND RETURN (United P.A.—By Telegraph — Copyright) (Australian and N.Z. Press Association.) LONDON, Thursday. The Bank of England returns for the week ended August 30, as compared with those for the week ended August 23. are as follows:—Aug. 30. Aug. 23.

SHORT LOANS AND BILLS Short loans, per cent., same as last week; three months’ bills, 4 0-32 per cent., same as last week. THE METAL MARKETS (Quotations on August 27 in parentheses) / I f c Vr° l , ytl ° Copper.—Spot, £6S 15s (itbS 15s); three months, £69 6s (.£69 Bs). Wire Bars.—Spot, £69 5s (£69 ss); three months, £69 5s (£69 ss) ,A op ?? r -— Spot - £62 12s 6d (£62 12s lad); three months, £62 19s 4Jd (£63 0s Lead.—Spot, £2l 17s 6d (£22 Is 3d): three months, £22 3s 9d (£22 17s 6d). Spelter.—-Spot, £24 15s (£24 10s); three months, £24 15s (£24 11s 3d). Tin.—Spot, £212 6s 3d (£2OB 17s 6d); three months, £2OS 13s 9d (£205 12s 6d) Silver,—Standard, 26 7-Sd (26 13-16 d) an oz.; line, 29d (28 15-16 d). BRITISH TEXTILES INCREASE IN EXPORTS RUGBY, Thursday. „ „T, IIC -9f piece goods of cotton 7 « «S ficla sllk lul J ed for Ju ‘y totalled 7 ;A 2 2°q nnn square yards, of the value of £539,000, according to a message from .This is an increase of ov ? e 7 r°’ B that q of r j^yf d 192 at £lB7 ’ 000 ' There were increases in every world except British West Africa, China u.’A c P Io ™ bla - The trade with New Zeatotfi for ‘In 1 / WaS - alm ° st equal to the total for the previous six months. OHINEMURI MINING (Prom Our Own Correspondent.) PAEROA, Friday. Interviewed on his return from Wellington. Mr. W. Marshall, member of the deputation which met the Minister for Mines this week on the question of a subsidy for a public battery for Ohinemuri, stated that the Prime Minister had given the deputation his assurance that he would have the fullest inquiries made and that, if the facts, were found to be as outlined, there was every possibilitv of the Government granting some assistance.

FEWER ARRIVALS PASSENGER FIGURES FOR PORT Still fewer people are coming into Auckland from overseas, and the number departing continues to show an increase, according to figures for August. During the month 845 persons arrived at Auckland from overseas countries, compared with 1,054 in the corresponding month of last year, a decrease of 209. Departures, on the other hand, numbered 1,445, as against 1,174 in August iast year, an increase of 271. The outward figures are augmented by pilgrims to the Eucharistic Congress in Sydney. Departures have been mainly by way of Australian steamers. Statistics for the first eight months of this year compared with those of the corresponding period of 1927 are set out below:—

BUTTER AND CHEESE follow ■- receipt or °™rseas G. Paviour-Smith, from his London principals, the V^J^'’. under da - te August 31:—“But110s t^ll2s?” OW at 18 ° S t 0 IS2s ‘ Cheese > *r£ eon * rd . ai i d SoI1 » I-td.. from their London principal, A. C. Rowson, under date fo9f U (o 3 Hls? Utter L 1803 to 1S2?; mand ” ' market dull “d no <l< - -^^ren th - London*’principals, w" We’ddYmS tol S 8s e N™ 1 y A , usbst 31: Butt Jr, 1 i S 6s 190 s; Salted isol to IS 2s nSa ma?k4 BG I to coloured “no Whit ' e ' llls to ffi? 8 eoSSSf sS*fi TE AWAMUTU STOCK SALE ispsss fut k' # steers made £ll 2s 6d to £ls is s . fat heifers, £9 10s to £ll; heavv fat fi s s if 2 4 , ~ • store cows, £3 10s to £3 16? to cross yearling heifers. iL to £ Ji 6 /',„ Jerse J heifers at profit, —l2 10s to £l4 10s; others, £lO to £l° ; Shorthorn heifers, £9 10 S to £127 small ana backward Jersey cross heifers £7 10s to £9; dairy cows, £7 15s to £ll- - £2 5s h : fat ewes - ■ei itf to ~1 15s 9d, ewe hoggets, £1 16s; m s hoggets, £1 5s to £1 9s. store Ptes made £1 10s to 16s; medium ditto, £1 2s to £1 Ss; slips, 18s to £1 Is; weaners, 10s to 16s 6d.”

Year ending Lambs. Sheep. Cattle 1906 .. .. 36,647 628 1,672 1911 .. .. 60,117 740 1,881 1916 114,173 48,416 47,611 1921 .. .. 75,642 67,042 16,461 1926 .. .. 115,242 23,100 6,163 1927 .. .. 130,538 24,828 7,629 1928 .. .. 157,119 14,578 12,869

£ Note circulation .. 135,441,000 Coin 174,823,000 Reserve .. 60,176,000 Govt. deposits .. 19,229,000 Other deposits .. 95,304,000 Govt. securities .. 29,141,000 27,969,000 Other securities .. 43,444,000 Proportion of reserve to liabilities 52.50 52.09

January . February March April . .. May .. .. June . .. July .. .. August Inwards. 1928. 1927. 2,281 2,353 1,323 1,764 993 1,732 968 960 1,077 1,760 740 778 1,207 770 845 1.054 Outwards. 1928. 1927. 1,518 1,310 1,492 1,123 2,107 1,937 1,657 1,973 1,285 1,422 i$8 i:S5S 1,445 1,174 Totals . 9,434 11,171 11,992 11,391