WELLINGTON CO-OPERATIVE SOCIETY.

New Zealand Times, Volume XXIX, Issue 4157, 17 July 1874, Page 3

WELLINGTON CO-OPERATIVE SOCIETY.

The tenth half-yearly meeting of this Society was held on Tuesday evening, in the Odd Fellows’ Hall. Mr. M. Read occupied the chair, and there was a full attendance. The tenth half-yearly report was read, and is as follows: In presenting their tenth half-yearly report, the committee have again to congratulate the members on the continued success of the Society. The expenses during the past year have been unusually heavy. This has been occasioned by the removal to other premises. In the first place it was found to ho absolutely necessary, in order to prevent a stoppage of business, to take possession of the new store two months before the old one was given up, so that the goods could be gradually removed, which necessitated the 'payment of a double rent for that period ; extensive alterations had also to be made, and the necessary fittings provided. The cart has also been thoroughly repaired and painted, and several necessary articles of furniture purchased ; but as most of the members have repeatedly visited the store, and are fully aware of what has been done, it is unnecessary to enlarge upon this matter here, but the committee feel that they are fully justified in saying that the Society was never before in such a position to carry on an extensive business as at present. Your committee have great pleasure in informing you that notwithstanding the great expense which has been incurred, they find by the

treasurer’s statement and balance sheet, which has been duly audited, and will be laid before you, that they are in a position to pay to the whole of the shareholders the usual dividend of one shilling and sixpence in the £ on all purchases made by them during the half-year ending 9th June, and also to pay the full amount allowed on shares, viz., 6 per cent, per annum. In their last report, your committee informed you that additional assistance would have to be obtained to meet the increasing demands of the trade of the Society. This was secured; but the business has gone on increasing to such an extent, that the present employes are quite unable to do the work required of them. It will, therefore, be necessary to obtain still further assistance in the store. Another horse and cart must also be provided, as it is perfectly impossible to deliver the goods to the members at anything like reasonable hours with the present cart only. Three of the committee—Messrs. H. Morrison, W. Johnston, and B. B. Haybittle—retire in rotation; hut being eligible, will be proposed for re-election. A treasurer, secretary, and two auditors, will also have to be elected for the ensuing year. In conclusion, the committee have to thank the shareholders for the confidence they have hitherto placed in them, and beg to assure them that nothing shall be wanting on their part to merit a continuance of that confidence, and to make the Wellington Co-operative Society a still greater success in the future. The report and balance-sheet were considered very satisfactory, and adopted. It was also agreed that a dividend of one shilling and sixpence in the £ should be paid on all purchases made by the members during the halfyear ending 9th June; and also the full amount allowed on shares by the rules of the Society, viz., 6 per cent, per annum. Messrs. H. Morrison, W. Johnston, and R. B. Haybittle, were re-elected members of committee; Mr. J. Woodward, treasurer; Mr. W. J. Kirk, secretary; and Messrs. S. Carroll and E. Toomath, auditors. The proceedings terminated with the usual vote of thanks to the chairman and officers.