F.C.D.C.

Wairarapa Times-Age, 10 November 1943, Page 2

F.C.D.C.

ANNUAL REPORT REBATES TO SHAREHOLDERS The 40th annual report of the New Zealand Farmers’ Co-operative Distributing Company, Ltd., states: —The directors have pleasure in submitting to shareholders, the fortieth annual report, balance sheet and profit and loss account for the year ended September 30, 1943. During the year rebates were paid to shareholders as follows: 10 per cent on stock commissions, 2| per cent on all goods purchased. After making provision for bad debts and for depreciation on buildings, plant, motor cars and furniture, the profit amounts to £27,739 4s 2d. With the balance of £10,645 18s 5d brought forward from last year, there is available in profit and loss appropriation account, the sum of £38,385 2s 7d which it is recommended be allocated as follows: Pay a dividend at the rate of 4 per cent on paid up capital; provide sufficient to pay income tax and social security and national security taxes (estimated to amount to £19,960), and to carry the balance, approximately £12,980, forward.

The retiring directors are Sir William Perry and Messrs D. Collis and H. B. Maunsell, all of whom, being eligible have been nominated, and offer themselves for re-election.

The retiring auditor, Mr S. E. Lambert, 'F.P.A., N.Z., has been nominated and offers himself for re-election.

The report is signed on behalf of the board by Mr Thomas Currie, chairman.