The Result of Co-opera-TION AMONG FARMERS.

Manawatu Standard, Volume 3, Issue 71, 28 February 1883, Page 2

The Result of Co-opera-TION AMONG FARMERS.

The Southland Farmers' Co-opera-tive Association held their annual meeting at Irivercargill on Saturday. The attendance was good. The fol* lowing are extracts from the report:— " That an association on co-operative principles, that has never been tried m the colony, and m the face of numerous difficulties, prejudices, and opposition shown m its ambryo state, should not only ; nave, firmly established itself, but on an average paid-up capital of £630/ from the day of its inauguration, the 4th March, to the 31st of December last—barely ten months — should also have made, after paying working ex- : penses, and allowing- interest at the rate of 7 per cent, per annum on paid-up capital, m all, £1034 9s lid, a net profit of £800 15s Id to ba dealt with, or 126 per cent, on the average capital employed, is an incontestable fact that will no doubt be looked upon by the farmers of Southland with interest and pleasure m after years." I The committee have imported Waiworth's new patent Eureka graundryer, by which almost an unlimited quantity lof damp grass can be dried at a comparatively small cost. The dryer will be ready for work by the time the wheat is ready for shipment. On the 11th of March last the number of shareholders was 99, representing 545 shares, and the share capital m hand was only L 272 13s, The shareholders on the 31st of December last" numbered 303, representing 1876 shares, with a paid|up capital of L 1637. Since the close of the financial year, 114 shares hare been applied lor." The Bum of £14,967, 17s 6d has been paid on railway account. The total quantity m tons of wheat, oats, and flour that has been exported from the Bluff during the past year, ending December, represents 11,504 tons, of which the society shipped 2638 tons, or 22.8 per cent, of the whole for the first nine months of its existence.