317
The Tin business therefore appears to be about
normal, and it should be noticed that, excluding tin,
the percentage of gross profit to turnover on other arti-
cles works out at 1.3 for 1910, 2.4 for 1911, 2.1 for 1912
and 1.5 for 1913.
It is not possible to apportion the
share of salaries debitable to these exports. No attempt
has therefore been made to arrive at the final net profit.
Considering however, the narrow margin on which export
business seems to be run, the profit does not appear to
be abnormally small.
Under exports should also appear the South Sea
account which appears in Melchers books under imports,
apparently for the same reason that the manager of the
import business drew a part of his commission in respect
of this business. The following figures show the invoice
value and the gross profit; -
1910
$. 219,000
8. 14,000
5%
1911
291,000
17,000
6%
1912
307,000
20,000
6%
1913
321,000
17,000
5.3%
It is again not possible to find the proportion of
salaries and managers commission debitable to this
account "
as these charges are debitable to the whole import
account including this account. The exact net profit can-
not therefore be given.
It is
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