A PROGRESSIVE CONCERN

Dominion, Volume 10, Issue 2890, 30 September 1916, Page 4

A PROGRESSIVE CONCERN

N.Z. FARMERS' CO-OP. ASSN. OF CANTERBURY, LTD. RECORD OPERATIONS The figures contained in the announcement published, by the New Zealand. Pawners' Co-operativo Association ofCanerbury, Ltd., in this issue, axe indeed very striking. The period to which they refer practically coincides with the second year of tho war, and they prove how little the war ha 3 really interfered with the normal expansion of business and the general prosperity of this progressive concern. During: tho three years prior to the outbreak of the war the association's turnover was increasing on an average by about .£140,000 a year. The first few months of the war had a very disturbing effect on business, with the result that the operations for 1015 declined by 631. During the pa6t year there has been an extraordinary recovery, and tho turnover has increased by over -E313,000, which evens up the deoline of the previous year, with a good deal to spare, and shows a total turnover of X 3,591,321. The management has every reason to be proud of this achievement, and of the etrong position of the association aa indicated by the inipressive figures in the statement already alluded to. In the company's annual report it is stated that the' assets are sufficient to pay all the present liabilities twice over and leave a surplus of .£212,203. The position is probably oven better than this, because it is tho practice of the directors to allow their freehold properties to stand in the books at their original oost, whereas there must have been a great appreciation in the values of theso properties. In view of thei great record accomplished by the New Zealand Farmers' Cooperative Association of Canterbury, Ltd., during the past twolvo months, it is interesting to recall that this important company was established some thirty-five years ago, with a subscribed capital of «C 17,555. To-day tho figures under this heading are X 701.985, of which the sum of .£255,009 is still to be called up._ Some idea of the widespread ramifications of the company's business may bo gathered from the statement that it has a head office and extensive warehouse at Cashel Street, Christchurch, branches in Ashburton, Bangiora, Ha warden, Oxford, Leeston, and Blenhoim, and agencies in all important centres throughout the Dominion. With this organisation, "Tho Farmers," as it is popularly called in the south, is doing invaluable work fov the farmers of New Zealand by . handling their produce and supplying their household and personal requirements on tho most, advantageous terms. It also conducts with success the business of auctioneers and land agents, up-to-date registers being kept of- properties in all parts of tho Dominion. The auction department scored a record success during tho past year, increasing its earnings to over .£IOOO.