FARMERS' DISTRIBUTING CO.

Dominion, Volume 7, Issue 1931, 13 December 1913, Page 10

FARMERS' DISTRIBUTING CO.

The annual 'meeting of the New Zealand Farmers' Co-operative Distributiii<; Company was held yesterday afternoon, subsequent, to the liinebcoi!, which was largely attended by a representative body of farmers. Mr. J. G. Wilson, chairman of directors, presided. In moving the adoption of the report a.ud balance-sheet the chairman briefly reviewed the past career of the company. He emphasised the fact. that during tlio 10 years of its existence many extraordinary difficulties had been overcome. But now a prosperous future seems assured. The. directors retommeuded that the profit'lor the year'bo 'disposed of as follows:—Dividend on capital, 5 per cent.; rebate on commissions of shareholders, I'll per cent..: rebate on com'missicms of non-shareholders, 7} per cent.; bonus oil purchases of shareholders, 3 per cent. A sum was placed to reserve, bringing the total up to £200, and the balance remaining was carried forward. The chairman stated ■that ■ a'large impetus was expected in the business of the company during the coming year. The motion was seconded by Mr. 11. J- Richards and carried unanimously. (!■ "Wilson, Jns. J'earce, and M.'.W. "Welch were reelected unopposed as directors. The remuneration of the directors was fixed at £-10 per annum. Mr. 1). M'Kay. ['.A., was re-elected auditor. Mr. Tlios. Moss moved a hearty cvote of thanks to the dirci-tors and stall', and paid a high tribute to the unselfish work of the chairman of directors. tlu> manager (Mr. A. Leigh Hunt), and the staff.