TARANAKI FARMERS’ MEAT CO.

Taranaki Daily News, 12 October 1922, Page 4

TARANAKI FARMERS’ MEAT CO.

REPORT FOR PAST YEAR. In their report to the shareholders ot the Taranaki Farmers’ Meat Company, the directors express regret that owing to the serious slump in values of all classes of frozen meat, and, generally speaking, the whole of the company’s products during the latter half of last year, a serious loss has to be disclosed, viz., £86,917 Ils Bd. after writing off the sum of £3350 for depreciation on buildings and plant. The slaughterings during the season showed a falling off compared with the previous season, as shown by the following figures:— 1920: Sheep 92,612, lambs 18,381, cattle 12,011, calves 141. 1921. 56,436, 32,688, 6,296, 164. 1922: 51,266, 28,728, 2,048, and nil.

The assets of the company are: Land, buildings, plant, etc., £220,711; stocks and stores, £36,205; unrealised consignments, £64,466; sundry debtors, £5,580; Government stock, £1,750. Total, £328,715. The liabilities are: Paid up capital, £99,564; calls paid in advance, £3,008; Government advance, £15,000; unclaimed dividends, £3l; drafts against consignments, £74,872; sundry creditors, including Bank of New Zelaand, £222,796. Total, £415,275. Debit balance, £86,917 Ils Sd; less brought forward, £356 13s 5d—£86,560. The uncalled-up capital is £14,719, and the calls in arrear £2,976. There is a contingent liability of £32,712 on drafts negotiated, not yet matured.