THE W.F.C.A.

Dominion, Volume 14, Issue 4, 30 September 1920, Page 8

THE W.F.C.A.

ANNUAL MEETING HELD. By Teloeraph-Special Oorrespondout. Masterton, September 29. Tho twenty-ninth annual meeting of the Waii'iii'iipa Fanners' Co-operative AsI socilition was hold to-day, Mr. Joseph I Ccsclberff (chairman of directors) prcsidI ilia- . ' 'i'liu balance-sheet allowed -assets amounting to j;315,680, and liabilities 4;3D9,399, leaving n credit balance of .£•150.280. During the year the paid-up capital was increased by >£70,147, and tile number of shareholders •by 801. Thero tire now 4697 shareholders in the association. The turnover for tho pnst j year was ,£2,800,000. Kcfcrrins to the new taxation proposals tho chairman said: "Under tho proposed Finance Act, public companies ami cooperative associations in particular are very severely treated, as the amount payable in income and land tax is almost 10s. in the X, which means tlwt tho Government lias practically joined us as lull partners, but without taking any iC: sponsibility or liability. It would appear that-with the Governments heavy financial obligations we cannot I 0 0- lr anv relief for some considerable twne. in addition to this, the Labour unions. are raising wages, and the Bonid of lraclo is keeping down profits. Your responsible officers have, therefore, a serious task ahead in obtaining satisfactory, results, which oro only obtainable by maintaining a very largo turnover, and also by the shareholders loyally supposing their own association. "I regret to say," continued Mr. Caselberg, "that the outlook tor the sh'eepfarmer is not particularly bright, but against this the outlook Su the dairviVig industry is very good, iho shipping conditions have giwly imploded; which should go a long way towards helping the wool and meat position. Although raw materials are dropping in price, it will be a considerable be. fore the general public will see any substantial reduction iu the prices of manufactured goods." The .report and balance-sheet were David Caselberg and W. Howard Booth were re-elected directors Mr. John Bannister moved, Mr. David Anderson seconded, and it was carried bv acclamation: "That this mceti'ng of shareholders of tho AVairarapa Farmers '00-operativo Association extend to Air. Myers Caselbcrg a hearty vote of thanks and appreciation for tho very able manner in which he has governed the affairs of the association during the past twentynine years. ■ His able management, integrity, and business acumen have resulted in the association becoming onei ot the largest concerns of its kind in the Dominion. ' This meeting hopes that Mr Casclberg will bo spared for many yean? to enjoy the reward ho lias so justly earned." ~ ' Votes of thanks were passed to the chairman, directors, and the stair.