PROGRESSIVE POLICY

Waikato Times, Volume 121, Issue 20259, 30 July 1937, Page 8

PROGRESSIVE POLICY

GREATER TURNOVER. PIG-MARKETING ACTIVITIES. SHAREHOLDERS’ MEETING. “ We are unable to report any further increase in the number of pigs handled, our total reaching 153,000, approximately 4000 fewer than last season,’’ state the directors of the New Zealand Co-operative Pig Marketing Association, in a report to shareholders, tabled at the meeting of the association, held in Hamilton today. " This figure, in view of the further increased competition for pig products, must be regarded as satisfactory," continues the report, “ and it is inter■esting to. note here, that while the total New Zealand killings of baconers showed an increase of 23,053 to May 31, 19,465 fewer porkers were killed for export. A total of 165,757 bobby calves was handled, this number showing an increase of 32,193 over the figure for the previous period.” Growth Reflected. Due to the increased values ruling, the association’s income and expenditure account showed a gross turnover exceeding the £500.000 mark, namely £501,447 4s sd. This figure compared with £149.472 in the 19.32-33 season, reflecting the growth and consolidation of the association in the short space of five years. An increase of £5331 in the subscribed capital for the year ended May 31 last is commented on. “ Since May 31,” states the report, “your board has already allotted a further 1608 shares to 498 shareholders to qualify fully their increased supply last season, and, at July 10 we had applications for the allotment of 2008 new shares.” A total of £3077 had been reserved for appropriation toward the paying up of share accounts, while £307,667 had already been distributed in cash by way of advance payments, second advance payments and the purchase of pigs on the No. 2 scheme. This left a surplus of £21,968 which had been distributed during the last 10 days by way of final payment and cash shareholders’ bonus on pigs supplied on consignment. Increased Costs. At the commencement of the calf season, there had been a general advance of about 7d a bead in the cost of treating bobby calves and subse quently, at the opening of the pig season, relative increases of about 35 per cent. In the works’ costs of killing and freezing pigs look place at the 15 plants at which the association was killing throughout New Zealand. Following on the Aucklaand freezing workers’ strike and the resulting wages adjustment in January, there was a further increase passed on amounting to 5d a pig. All these added costs on the association's total collections would approximate £15.000, and suppliers would realise that these had had to be met out of I lie gross selling value of their product. Collecting costs had also shown an increase during the season of 3d a pig, but the association’s administrative expenses were still remarkably low, being less than 2.5 per cent. The report particularly points out, however, that despite the increased costs the final distribution had been just in excess of last year’s. While Ihe number of pigs handled was slightly less, Ihe cash payments ori pigs supplied exceeded those of last year by £32.563. The report and balance-sheet were adopted.