N.Z. FARMERS' CO-OPERATIVE ASSOCIATION OF CANTERBURY, LTD

Nelson Evening Mail, 21 September 1916, Page 6

N.Z. FARMERS' CO-OPERATIVE ASSOCIATION OF CANTERBURY, LTD

The annual report and statement oi accounts of the New Zealand Farmers Co-operative Association of Canterbury _ Ltd., are printed in an illustrated booklet containing much statisticial information regarding this large firm. The Profit and; Loss Account shows that the net profit for the 12 months amounted to £68,389 Us Id, to which has to be a-dded the sum of £2411 7s lid brought forward from last year, making a total to be -dealt with of £70,800 19s. This amount was allocated! as follows: —Six per cent, interest on the preference Share Capital; a dividend and bonus equal to 8-| per cent on the Ordinary Paid-up Share Capital; a bonus on the basis ot 5 per oent. on Shareholders' Purchases of Merchandise during the year (sundry net items excepted); refund of 30 per cent, on Sundty Commissions earned (net business and wool excepted) ; £11,021 10s carried to the Reserve Fund, which now stands at £145,000; 10 per cent, depreciation off the machinery and plant, and 1 a further sum of £ISOO to provide for depreciation of motor vehicles ; contribution of £ICCO to the Employees' Superannuation Fund; £ISOO to the special fund to provide for contingencies with respect to members of the staff at the war, and to carry the balance forward. The list of members of the staff, Christchurch ana branches, who have enlisted, numbers to date 78, and comprises the whole of the men eligible for active service. Eight from the beginning of the war there has been a strong desire on the part of all single men of the staff to fight for thencountry. Tables are given showing the aggregate earning of the various 'branches, and big advances from year to year are to be seen. The position exhibited by figures given* is a, very strong one. It means that the assets of the Association are sufficient to pay all the present liabilities 1 —i.e., deposits, shareholders' credit balances, etc., etc., twice over, and then leave the sum of £212,203 as a surplus. Remarkable progress is revealed in the report.