OPERATORS IN COLONIAL BUTTER.

Wairarapa Age, Volume XXXII, Issue 9587, 6 September 1909, Page 6

OPERATORS IN COLONIAL BUTTER.

That losses were sustained by operators in colonial butter last season is a fact that has been well understood, and it is, therefore, not surprising to find that Messrs Lovell and Christmas, in their annual report, confirm this impression. The report for the year ended June 30th last states that after providing tor all contingencies, there remains, including £23,477 brought forward, £90,367 available for distribution. It is proposed to pay a final dividend at the rate of 8 per cent, for the year, carrying forward £28,867. Throughout the past year, trading at a profit has been extremely difficult. Importers of colonial butter and cheese have suffered severely, in many instances these goods being sold here at less than the original the colonies. In the opinion of the directors the most satisfactory feature in the business is that the sales have been larger than in any previous year, showing that the company holds the full confidence of its numerous cutomers. During the past year serious loss has been made by the failure of three companies with whom a large business had been done for many years. This loss has been met by the reserve fund established to cover such a contingency. The net profit for the year amounts to £66,890.