CO-OPERATION IN OTAGO.
(Per Press Association.) Oamaru, last night. The fourth annual meeting of tho North Otago Farmers’ Co-operative Association was held on Saturday. Tho report showed a net profit of 25 per cent on the paid-op capital. The net profit earned was £3160 17s 4d. The directors propose to write off £IOO, being the balance of Flenning and Hedley’s goodwill aod leases; to write £SO off the leasehold properties; to pay a dividend at the rate of 7 per cent; allow a bonus of 2£ per cent, upon shareholders' pnrohaseß of groceries, ironmongery and drapery; pay a bonus of 2£ percent, on the salaries earned by the permanent staff; refund 5 per oent. of tbe commission earned from shareholders on grain and stock (except stock), and 10 per cent, on commission earned from shareholders on horses; plaee £IOOO to reserve; plaoe £3OO to tho credit ol doubtful debt account, and carry forward the balance. Tbe report and balance were adopted. The retiring directors were re-elect3d, with the addition of Mr W. Robertson, who takes tbe place of Mr Gillies, who has left the district.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/GIST19050918.2.38
Bibliographic details
Gisborne Times, Volume XIX, Issue 1561, 18 September 1905, Page 3
Word Count
185CO-OPERATION IN OTAGO. Gisborne Times, Volume XIX, Issue 1561, 18 September 1905, Page 3
Using This Item
The Gisborne Herald Company is the copyright owner for the Gisborne Times. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of the Gisborne Herald Company. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in