Wade WADE SETTLERS CO-OPERATIVE COMPANY

Rodney and Otamatea Times, Waitemata and Kaipara Gazette, Volume 1, Issue 45, 7 February 1902, Page 2

Wade WADE SETTLERS CO-OPER-ATIVE COMPANY

ATIVE COMPANY.

FJRST ANNUAL ME'ETINGf

•• Oa Thursday eveiiing January 30jth, the first Annual Meeting of.the above company ■vr.asheld in their Own Hall at the Wade. There was a large attend.'.ance' of Shareholders present, the clxair being occupied by Mi? A. J. ..Hatfield; Chairman of Directors who. read the repoit and Balance Sheet and in moving the adoption the Chairman made the following remarks:— "It is with imtcli pleasure that I move the ■ report and Balance • Sheet be adopted the position of affairs •as slxown therein is highly satisfactery and encouraging . the operations for the past year show ! the. .Qompany gross proiit amounted to J .£l2-82 14 7, leaving a nett profit of 4 £276 V 4 6, Ont of this sum .the Dir.ect- \ ors purpose paying a 5 per cent dividend [to the shareholders and paying a' 2A per cent bonus to the consumers and carrying forward the balance to.credit of profit and- IoS3 . account. The diffi- • cnltyand expensein'starting our Com- ■ pgny have now been overcome and the e.xperieuce gained during the last year .trading showed result. Qn increased profits in the future in endeavqurin'g to bring this .about-the. directors ask the cordial sympathy' and co-operation of ' flio shiirehold'ers, without exaggeration it can be fairly said1 this is ■ a.'splendid opportunity to demonstrate'the usefulness of a Society like o.ur.; own. We have a first' class position for trading i and every convenience, in the. shape of : t b,uilding\ ■', ... ; ■ ■

< j Your Directors trust that with the loyal support1 of shareholders to'be abift to enlarge' the scope of the biisiaiess and make it still more useful and profitable to customors and sharehold(u!s in the factory.'- After considerable discussion by the shareholders the report and "Balance sheet as read was adopted and much satisfaction wns expressed in "the determination of the

Directors to allow the customers to share in the prosperity of the company. According' to the articles of association three Directors have. to retire an-.oiually-but are elegible for re-election. I iSix shareholders \reve nominated, to fill the three vacancies and the baJlot, resulted-in favour of.W. A. McChv.gor 251 votes, Kobe.ltE.ow. 204 votes, and i Littejuhn 227 votes... A.-hearty vote of tlianks to the . retiring Directors, Manager and staft -raid ohsirman of Directors forI'their-sucessful cundnct lof the r;Pi»iirs ol: the company during the pa;', tvnr brongbt the meeting- to ti close. ■■■'.''.■