WORKING MEN'S CO-OPERATIVE SOCIETY.

Press, Volume LX, Issue 11506, 12 February 1903, Page 3

WORKING MEN'S CO-OPERA-TIVE SOCIETY.

HALF-YEARLY MEETING

The twenty-seventh half-yearly meeting of the Christehurch Working Jlens , Co-opera-tive Society was held at the Oddfellows Chajnbere hit night, when Mr Harry Chapan, president of the Society was in the chair, and some forty shareholders were present. . The report showed a substantial improvement vi business, particularly in the grocery '.in* , , while the total sales for the halfvear showed an increase of nearly £2000. The net profit for the six months wae £420 Is 2d, which, with the sum of £32 6s 8d brought forward, made a total olvisable cum of 7s lOd, after allocation of which it was recommended that the rum of £36 9s lid bo carried forward.. -With regard to the co-operative bakery, the trade had increased beyond the most sanguine expectations, as in trying to keep food supplies at a fair price the support and sympathy of thepublio had been gained. The Kaiapoi branch ivus etiil prospering, and showed a good increase in sales. The manner in which the directors recommended the distribution of .the divisable sum was as follows:—"A" capital at. 7 per centum per annum, £30 9s Id; "B' , capital and accumulated! bonus at 6 per cent- per annum, £132 10s 2d; members' purchases*, 4d in the £, £172 15s; wages, 4d in the £, £20 17s Ad ; non-members', purchases, 2d in the £, £11 5s 4d; depreciation of fixtures and fittings, £20 ; rererve iund, £28 Is; carried forward, £35 0s lid. Tota., £452 7s lOd.

The balance-sliest showed share account debit, ££532; revenue account credit, £420 Is 2d; profit, and loss account- crc-dit, £462 7s 10d; cash in haod, £200 13s 6d; ca*h held as change, £48; cash in National Bank, £404 7s Bd. The contingent liabilities were 177 £4 14« lid shares in the Co-opera-tive Wholesale Society, Manchester, unpaid, and two £2 14e 6d''snares in the New Zea<land Farmers' Co-operative Association, uncalled. The report and balance-sheet were adopted. The election' of new officers resulted as. under:—President, Mr A. T. Hoddinott; widitor, Mr G. VV. Hulme; trustee, Mr J. Hlslop; committeemen, Messrs S. Bi.lcliff, W. E. Woodhani, and W- Newton (for two years), Mr T. A. Bullock (for eighteen months), and Mr S- Scott (for one year).