TARANAKI FARMERS' MEAT COMPANY.

Taranaki Daily News, 14 September 1917, Page 7

TARANAKI FARMERS' MEAT COMPANY.

ANNUAL iREPOKT. The first year's report of the Taranaki Farmers' Meat Co., Ltd., is as follows:—• Slaughtering operations were comfnenced on January 8, 1917. The quantity of stock treated being as follows: 22,445 sheep, 12,505 laiubs, (i'2OG cattle. The dilliculties inseparable from the commencement of a new business, combined with the high prices ruling for fat stock and the scarcity of shipping, 'have compelled the company to show a small loss 011 the first season's operations. The establishment of the company, however, has already proved of great -benefit to the district, and with the initial difficulties overcome, your directors consider that the prospects of the company are excellent.

Before the works were completed your directors, realising the need for additional cold storage, decided to increase the original capacity bv CO per cent., and this has proved of great benefit, not only to the fat stock producers, but t<j. the dairying industry as well. A further addition is now necessary to enable the works to carry on through next season, and your directors earnestly hope that shareholders will provide sufficient capital to enable this to he put in hand without delav.

No 'provision lias been made for depreciation, your directors being of opinion that this was unnecessary, the plant being quite new. BALANCE-SHEET. The Ibalanco-shcet bhows tho subscribed capital to he 9839 shares at £5, £-19,105, le«js uncalled £13,77-1 J2s, the called up capital being £35,-120 Bs, less calls in arrear £4471 2s 9d, the capital paid up being £ 30,549 os 3d, calls in abvanco £3SGI, 'Bank of New Zealand (secured by debentures) £153,182 3s (id, Bank of New Zealand, London, £297ti, sundry creditors £0783 7s Id; total £200,751 15s 10d.

The assets comprised land, buildings, machinery, ipbuit, etc., £S3,'JI2 2s Id, preliminary expenses, £s2li fls i)d, stocks, stores, etc. on hand £103,080 lis 4d, unclosed consignments £2970, sundry debtors, £201)9 (is id, unexpired lire insurance £70!) 7s, cash, in hand £3S 9s id, proiit and loss account £6-10 9s lid; total £200,751 15s lOd. The profit and loss account is as follows: —Expenses of management, salaries, etc. £3072 7s Bd, interest, exchange and discount £3833 9s Od, insurance, fire ana accident £335 9s 6d, legal expenses and rates £320; total £7501 <js Sd. By fieezing manufactures, ales, etc., £7227 13s 3d, transfer fees ss, net loss £333 8s Od; total £7561 (is Bd.