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MARKETING DEPARTMENT— continued MILK-TREATMENT STATIONS Profit and Loss Account foe the Period Ist April, 1948, to 31st August, 1949 Dr. £ £ I Or. £ Losses, after charging interest and depreciation— Profits, after charging interest and depreciation— Stations operated under deed of management— Stations operated under deed of management: Auckland .. 1,037 Balclutha .. . . . . .. . . 1,626 Stations operated by the Department— £ Timaru .. .. .. .. 2,224 Hamilton .. .. .. .. .. 159 Invercargill .. .. .. .. .. 3,062 Christchurch .. .. .. .. .. 3,011 Nelson .. .. .. .. .. 2,507 3,170 Hamilton .. .. .. .. .. 6,141 Net loss .. .. .. .. .. .. .. 50,896 15,560 Stations operated by the Department— Dunedin .. .. .. .. .. 15,587 Timaru . . . . . . . . . . 173 Blenheim .. .. .. .. .. 4,164 Palmerston North .. .. .. .. 9,379 Napier-Hastings .. .. .. .. 7,742 37,045 Costs not chargeable against stations— Sundry .. .. .. . . .. 720 Interest .. .. .. . . .. 1,778 2,498 £55,103 £55,103 Note.—Head Office administration expenses have been borne by Consolidated Fund and are not included in the Profit and Loss Account. Profit and Loss Appropriation Account for the Period Ist April, 1948, to 31st August, 1949 Dr. £ Gr. £ Balance forward from last period .. .. .. .. 36,724 Balance forward to next year .. .. .. .. 87,620 Net loss for seventeen months ended 31st August, 1949 . . 50,896 £87,620 £87,620

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