Show tah tab Liquor Board Nets ets ets' Declares D e Dividend It Liquidates Obligations d' d rin in Less Than Year of Operations General Geni Gent Gen Gen- t i eral Fund Gets Profit t. t M As results than a years year's operation the state liquor commission Saturday handed the state government O check submitted worth of up paid-up notes a net profit since June 1 1935 of Hugh lih B. B Brown chair chairman nan anc and Adam Patterson Jr fr id d G. G M. M Whitmore called upon vernor Henry H. H Blood to prel prent pre pre- nt l' this state sUite with the first firt dividE divi- divi dE I out ut of oC pro profits i. i p profit resulting from Ii of C worth of oC wined wine vinc liquor d-liquor d to the commis- commis zi us ers revealed that the commis- commis ui if owned title freeall the liquor tits Ith store and package agency elves oes and all office store and fixtures r Has Hat Created Reserve The lie e in iii canceled notes presented r s amounts borrowed from's from C s 's to begin operations of oC the Etc te e monopoly lP In addition the missIon hasset set up a reserve forI for I rations The Che e wUl be turned over to state 5 treasurer for credit to thel the l called liquor control fund Fore For e 5 biennium July I 1 1935 to June 30 31 the first in this fund stich amount as is necessary ill III II be used to balance the gene genera general al IJ id zid budget the balance to be used governor at his discretion bettering social and economic In the state The commissi commissions commission's ns n's statement of oC indicated that for the bit Irit t year ar net profit of oC about 1 I would be shown I A of oC April 30 the commission i 1 Ls total assets of oC which eludes d des s in cash 19 1334 in in accounts receivable and in stocks of liquor and l all tabulated as current jets ets ets After reduction of a reserves reserves for tor depreciation the to- to Ir f assets are arc listed isted as 30 which includes office store eq equipment Deferred Deterred ti Including dirig prepaid Insurance 1 atal i t Liabilities Total Tota liabilities are shown as amounts owing for quor sales tax and beer licenses municipalities S Sales les of consumers consumers' permits and c censes ceases ns s to brewers and others rought in for the 11 while charges for storage rid od display yielded Total expenses fo for the period are sted as 83 the largest ex- ex ense Use item being for salI sal- sal rles nez I s and wages Other expense ems are for enforce- enforce lent lerit cost for express and for store sup- sup lies and expense for for travel 12 1946 for interest charges and for breakage April J operations were shown to toWe ton towe n we e yielded a net profit of 36 gross profit having been 81 OH including on liquor ld lId other income being from irom store stor- stor oe e handling g and display charges April expense totaled r which salaries salaries' and wages totaled Other April expenses ere for professional fees and Llari daries s for enforcement for freight and express 5 for rent and leases 1177 for fori i anda and insurance |