INGLEWOOD CO-OPERATIVE BACON CO.

Taranaki Daily News, Volume LVII, Issue 113, 6 October 1914, Page 6

INGLEWOOD CO-OPERATIVE BACON CO.

ANNUAL REPORT. Tho fifteenth annual report and bal-ance-sheet of the Inglewood Co-operative Bacon Curing Co., Ltd., for the year ended August 31, 1914; to be laid before the annual meeting of shareholders, is as follows: The results of the year's working are very satisfactory. There has bten a substantial increase in the number of pigs handled at the factory, wdiilstr the average price paid per pig has been higher than in the previous year. The demand for bacon during the year has been good and the market price has been maintained at a fairly satisfactory figure. During the year the company has paid out to shareholders tho sum of £238 -Is 7d in excess of the market price for pigs. A further payment of £605 03 Od, being at the rate of one farthing per lb on all pigs received, has also been authorised and paid. There is a balance of £l3 10s 4d to the credit of the Insurance Kund. A dividend of 5 per cent, on share capiLal has been authorised to be paid. Your Directors have considered it wise to substantially increase tho amount written off for depreciation, and the assets have accordingly been reduced by the sum of £370 12s 7d. After providing for various payments and deductions thcr«. remains a net balance of £39 7s lid to carry forward. There has again been a substantial increase in the number of shareholders and the Share Capital Account is in a highly satisfactory condition. Owing to the prices of all food stud's having been materially increased, and being likely to remain' high, the outlook for the coming season appears to be good, and it is anticipated that tlio price to be paid for pigs will continue to be satisfactory to the producer. You are required to elect three directors in the place of Messrs Morton, Davidson, and Yeates, who retire in rotation; Messrs Davidson and Yeates do not seek re-election. An auditor ia also required to be elected. Mr Ilopson again offers his services.