Morris Hedstrom, Ltd.
p. 10 · Read in the full issue
Representing The Colonial Office
S IN s,> arn £ a V. n FIJI m earl y June, ° the rnll 0 Parkmson, who is visiting tive of <? y P ersona l representa of the Secretary of State for the Colonies, has had a busy time. anri in?Hf, V f 1 - Slted all Government offices and institutions in Suva, interviewed
senior officials and members of the various staffs, has attended many social functions given in his honour, and has broadcast over the local radio station.
Later, he visited .country centres on Viti Levu, Vanua Levu and Taveuni, and flew to Tonga for a three-day visit.
Morris Hedstrom, Ltd.
THE accounts of Morris Hedstrom, Ltd., for the year ended March 31, show the company still suffering the embarrassment of too much liquid assets —cash and investments exceed by 50 per cent, the total subscribed capital. Value of freeholds and leaseholds has been writ ten down from £312,452 in 1941 to £186,857 in 1945.
The company has given £25,000 to a Fijian scholarship fund; another £3,000 to its pensions fund; and is planning a very extensive building programme. A bonus of £l.OOO was granted to Mr. H. E. Snell, general manager, for special services.
The chairman (Sir Maynard Hedstrom) expects a poor sugar crop this year; but the copra prices should remain high.
The company paid its usual 10 per cent, dividend.
This photograph shows Sir Cosmo Parkinson (second from left front row) during his visit to Tonga. Mr. C. W. T. Johnson, British Agent in Tonga, is shown (extreme right back row) and the Crown Prince of Tonga, Tuboutoa, is on Sir Cosmo's left. —Photo by Rob Wright.
Cash credits .. ..
Creditors 47,306 1,815,435 9,200
1 Q*? 1 ? Roc
Branch balances Owed to subsids
Assets—
512!751 664,942
1.00 F ,Doo
460,801 548,498 Merchandise, copra advs. 1.704,804 1,241,562
Ohq K/Ic
Cash 144.407 Debtors ... 1,247,836 090 Owing by subsids Property, ship Shares and Gov. sec Subsid. shares 157^048 2.421,882 1,653.143 741,121 000,000 142.501 2,273,524 2,725,188 722,190
Year ended March 31. 1944. 1945. £ £ Net profit 85,839 86,703 Depreciation 35,759’ 13.546 To pensions fund 2,926 3,008 Capital 739^613 739,613 S. creditors 53,178 49,318 General Reserve .. . 130,000 130,000 War risk reserve 160,000 140,000 Investments 128.000 Insurance funds 97^969 105,944 Due to subsidiaries .. . 103,816 104,664 Plantations 20!032 19,641 Land and buildings .. . 179,988 167.216 Merchandise 236,890 206,096 Sundry debtors 95,117 87,772 Cash and current a/c .. . 269,786 218,720 Shares in subsidiaries 115,287 114 399 Government, etc., stocks . 468.446 631,298 Miscell. investments .. . 95,208 176,472