Morris Hedstrom’s Profits

Company’s Strong Position

The directors of Messrs. Morris Hedstrom Ltd., Suva (trading in Fiji, Tonga and Sa moa) are to be congratulated on the fact that, in spite of general depression, and the calami tously low prices of copra and sugar, they have shown a net profit of £73,276 on their year’s trading, which is only £3,813 less than was earned in the previous year. They have made their usual additions to reserves, have written £ 15,000 off plantation values (a very wise proceeding, in view of the uncertainty of the future), have paid a dividend of 6 per cent., and have carried £41,000 forward to the credit of the current year’s accounts.

The company’s position is strong and ap parently very sound. This, from the public viewpoint, is all to the good. South Seas planters, like all other producers, are having a bad time just now; but there can be little danger of a general collapse so long as the big trading and financial corporations of the South Seas—particularly Burns Philp, Morris Hedstrom and W. R. Carpenter—are held on their present safe and steady course.