IMPROVED POSITION
N.Z. FARMERS’ CO-OP. CO. (By Telegraph—Press Association.) CHRISTCHURCH, This Day. The New Zealand Farmers’ Co-oper-ative Company, of Canterbury, shows a further sound improvement in its accounts for the year endedvluly 31. The net profit rose by £6,566 to £53,640, the gross profit rising from £217,319 to £218,803. Recommendations are that £17,250 be reserved for income tax, that dividends of 4| per cent on first preference shares, and of 4 per cent on both A and B preference shares (unaltered from last year), be paid and that the balance of of £18,200 be applied to the reduction of the deficiency shown in the balance sheet, which will' then stand at £210,461. The main ’features of the accounts are that secured deposit stock has been reduced by £232,582 to £659,396 and that the reserve has risen from £11,509 to £33.468. The liquid position remains at £84,000.
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Wairarapa Times-Age, 8 September 1938, Page 8
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146IMPROVED POSITION Wairarapa Times-Age, 8 September 1938, Page 8
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