CENTRAL CO-OPERATIVE STORE.

Stratford Evening Post, Volume XXXIV, Issue 62, 6 November 1912, Page 5

CENTRAL CO-OPERATIVE STORE.

ANNUAL MEETING

The annual meeting of the Central Co-operative Store Company, Ltd., was hold yesterday afternoon. The Chairman of Directors (Mr. G. Sangster) presided over an excellent attendance of shareholders.

The annual report was. as follows : “In submitting the seventeenth annual balance-sheet the directors have to report another year’s satisfactory business. The net profit is not as large as in the previous year; but this is attributed to the High co'st of many goods, leaving a smaller percentage of profit. The turnover shows an inc ease on last year, and we to find that greater interest is being shown in the business by the shareholders. After writing off £43 5s 9d lor depreciation, and £6O 10s Id for bad debts, a net profit of £305 15s 5d remains. The directors recommend thut a dividend of 5 per cent, be paid to shareholders, on paid-up capital, and that the balance be carried to reserve fund. You will be called upon to elect two directors in place of the retiring directors—Messrs. R. Orr and J. Paul —who are eligible for re-election. Mr. Penn’s services are again available as auditor.”

in moving the adoption of the annual report and balance-sheet, the Chairman congratulated the company on a successful year.

A keen debate followed, Mr. Fryday being the moving spirit, l but ultimately all questions were satisfactorily answered, and the report and balancesheet duly adopted.

Messrs. R. Orr and J. Paul were reelected as directors, and at a subsequent meeting of the directorate Mr. G. Sangrster was re-elected chairman. Mr. T. H. Penn was re-elected auditor.