FARMERS' CO-OPERATIVE AUCTIONEERING COMPANY.

King Country Chronicle, Volume II, Issue 74, 20 March 1908, Page 3

FARMERS' CO-OPERATIVE AUCTIONEERING COMPANY.

The first annual report and balance sheet of the Farmers' Co-operative Auctioneering Company, which is to be presented to the shareholders at the annual meeting on April 4th, makes most satisfactory reading for all connected with the company. With a paid up capital of £44.730 the net profit on the year's working has been £/97 l lis 6cl. The directors have decided to apply a portion of the year's profit to the payment of a divU dend at the rate of 6 per cent., and they have allotted £930 9s 8d as a rebate on commissions to shareholders, being 15 per cent, on the prevailing rates. The auditor reports with regard to the matter of advances of stock to customers as follows : " I am of opinion that the credit given is to sound persons, and that, further, that a much greater sum could be invested on the same lines with benefit to the company and to the district." Such a successful initial year for the Company says much for the sound and capable management of those conducting the business, and the Company is to be congratulated upon the result of the first year's operations, while the indications of future prosperity are of the brightest possible nature.