REASONS FOR FORMATION OF THE ASSOCIATION.

Manawatu Herald, Volume III, Issue III, 11 August 1891, Page 4

REASONS FOR FORMATION OF THE ASSOCIATION.

1. — The obvious necessity that farmers and all other producers, resident on the West Coast oH the North Island of New ZeeJnnd, should be able to dispose of their wool frozen meat, grain, dairy produce, flax, fruit,- and any other products at greatly reduced rates of commission, and be able to purchase all farm nnd station requirements at cost price, less actual expenses. 2. — The successful results achieved by Co-operative Associations in other countries and iv other parts of New Ze^and— notably, by the Farmers' i Jo.Opevative Association in Canterbury. . . OBJECTS OF THE ASSOCIATION. * Tho Association is established for tho purpose of carrying on the nos3 of ft Co Operative Association in all its branches, ino'.n in-* the direct importation and supply of iarm and other station r quisites, and tho Momornn liitn s.ucl Art. cl< •*> of Association will otiiiblo tho Associa ion, 1,~-To pnrchase, lease, oxcl»:\rig«\ hire, or otherwise acqumvnwl -«»- Btruct li.y laud, biuUliugs. . ivarebouses fcr the storaga of wool, »raiu, and produce of ovo'V 'dea-'ripiio 1 !. sale-yards, railway sidings, imolkucry, all necessav: plauft, 'siock'-in • trade, merchandise, ami'- all Mich ohm-Ten' and peivima 1 )fi-"l>- j rt..y as by the .:iroctors lor tho iuie being Sj.ili bn deemod luoes^ry or cou- \ orient for carrying on tho business of the Association. 2. -Tose I either \>y public auctiou or by private coutracc live stock

of every description, all farm and station products and requisites, implements, machinery, chattels, and effects of all kinds, upon such terms and conditions as the directors may from time to time appoint. 3.— To afford facilities to the shareholders and constituents of the Association for, or to undertake for them the shipment of their produce to the various markets of the world, and to appoint agents in Great Britain, the other colonies, and foreign countries for the furtherance of this object. 4. — To make advances to the memberg of the Association or an> other person or persons upon real personal securities, as may from time to time be approved of by the directors, and to receive money on deposit at interest or otherwise. s.— To sell, exchange, improve, manage, lease, mortgage, dispose of, or otherwise deal with all or any part of the property of the Association. ADVANTAGES OF THE ASSOCIATION. To seoure to the farmers, graziers, and producers of the West Coast, by co-operatson, the benefite of interchange, which have hitherto gone to the agents or distributors atona. By adopting the principle of cooperation in the formation of tlie Assooiatiou, farmers, graziers, flaxmillers, and all other producers who are shareholders and constituents, may sell their products and buy what farm and station requisites they severally require in the most favourable markets, and at the same time share in the profits ot the Association, which, after payment of all expenses, will belong to and be distributed amongst the shareholders. The Association will collect and supply to the shareholders agricultural and other statistics, prompt, disinterested, and reliable information as to the state of and advantages offered by the various markets throughout the world. Tne Association will seek to ally it&elf with other kindred institutions, and so, by sharing the cost of agency in British and foreign markets, reduce such cobts, while increasing correspondingly the advantages to shareholders. The profits of the Association, after payment to shareholders of a dividend not exceeding seven and a | half per cent, per annum, and after making provision for writing off so much of the assets of the Association as may be deemed advisable and providing for a reserve fund, will be divided amongst the shareholders, according to the amount of business done by each with the Association, may from time to time be approved of by a majority of shareholders at a general meeting of the Association. The annual reports of other similar Associations show the satisfactory finanoial results which may be attained by such enterprises, aud induces the belief in the minds of the promoters that equally satisfactory results may be achieved in this part of the colony, and while offering h safe investment for capital, that the West Coast Farmers' Co-Operative Association may become, not only a souroe of profit to its shareholders and constituents, but also a great and permanent benefit to the farmers, graziers, and producers of the West Coast geuerally. JOHN STEVENS, Buoker, Bulls.