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Commonwealth Wool
And Produce
For the year ended March 31 the
accounts ot the Commonwealth Wool
and Produce Company Limited, show a
profit of £12.711, after charging £13.713
for taxation and £3,149 for depreciation.
For the previous year the profit was
£12.751. Gross earnings were £166,984.
compared with £170,596. and expenses
£154.273 against £157,845. Dividend I*
again 2*4 p.c. and requires £7.500. while
£1,000 is allocated to general reserves,
increasing the total to £100.000. The
carry forward is £9.564 against £9.353
brought In.
The report states that profits were
affected by decreased wool production,
particularly in New South Wales. The
decrease in the number ot bales was
primarily due to the average weight of
fleece a sheep being below normal. Tbe
trend of working costs resulting from
wartime taxation varied. Wages awards
and scarcity ot expert labor continued in
an adverse direction.
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