PIG MARKETING

Wairarapa Times-Age, 22 July 1939, Page 3

PIG MARKETING

CO-OPERATIVE ASSOCIATION’S ACTIVITIES. REVIEW BY CHAIRMAN. “In general terms I am pleased to be able to say that despite the deplorable fall in New Zealand’s pig production last season amounting to nearly 110,000 pigs, we have had another very successful year,” states Mr W. A. Phillips, chairman of directors of the New Zealand Co-operative Pig Marketing Association, Ltd., in a survey of the company’s position. “Including that of its subsidiaries, the Kiwi and Flutes Bacon companies, the company’s gross turnover was again over £600,000. In total your company handled 127,825 pigs and 239,000 bobby calves. In this connection it will be pleasing to note that despite the above-mentioned fall in New Zealand’s export killings, the reduction in our own collections is only 24.000, while in the case of bobby calves our collections show an increase of 63,000. “Administration costs. — Notwithstanding the continued rising costs with which our company, like all others, has been faced, we are glad to report that this important aspect of our operations has shown a very small rise on that of last year, the comparison being 2 per cent against this year’s figure of 2.19 per cent. “Cash distributions; advance and final payments.—ln respect of the pigs and bobby calves handled by the company during the season a total cash distribution of over £394,095 has already been made, and there is still available for a final payment to pig suppliers on consignment a surplus in excess of £16,935.. This surplus or final payment will as usual be distributed to its 8000 suppliers and members towards the end of July and represents very excellent realisation on their supply, since the company’s advance payments this year again were maintained on a high level, averaging in excess of 90 per cent of the total net value of the pigs handled on consignment. “It will be noted that payments yet to be made apply only to pigs supplied on consignment from November 1, a final payment (exclusive of share credits) having been made on all pigs supplied up to that date in November last. The adjustment regarding share credits on this early winter period will be made when forwarding final payment cheques and accounts to complete the season’s supply... “Capital position.—The company’s subscribed capital now stands at over £31,431, some 4,123 additional shares having been applied for and allotted during the past season. The companys paid up capital is increased to £9,586, and will be further strengthened by the appropriation to capital on last season’s supply.”