THE FARMERS’ CO-OP.

Stratford Evening Post, Volume XXXI, Issue 90, 13 November 1916, Page 3

THE FARMERS’ CO-OP.

RALLY IN STRATFORD.

OPENING SALE TO-MORROW.

There was a largo and representative gathering of farmers and others throughout the district at the meeting convened by the Farmers’ Co-operative Organisation Society, Ltd., at the Foresters’ Hall, Stratford, on Saturday afternoon. The meeting was presided over by Mr E. Marfell, and among those piesent' were—Messrs M. J. Lynskey (General Manager, of the Farmers’) and A. E. Death (Hawera) -representing the parent Society at* Hawera, G. H. Buckeridge (Elthnm), D. Todd, Henwood (Inglewood), N. B. Fry day, W. P. Clemow, J. McDonald, and j. M. Shotter. At the outset, the Chairman said he was a thorough believer in cooperation but no business could be a success unless there was sufficient capital to support it. He believed that tbe presence of another rival; “kept the other man in his place.” The object of the gathering was ' not only to increase the share capital, but also to interest farmers in a concern, 1 which was not the directors’ affair, but was their own, and as such should be supported by farmers themselves. Mr A. E. Death, a director, urged upon those present to take up more shares, so that the business could be extended in this district now that saleyards had been obtained. Mr Buckeridge referred to tbe need for more of the co-operative spirit. Whatever money was put by tbe farmers into their own concern it would develope. Any fool, said the aijeaker, could sell, but anjy fool could Mt buy dtock, and as i.t Slboved them to buy in large quanti:|aes and pay cash, so that they could HJiote the -best terms," One feature Ay hi oh should appeal strongly to them was the rebate on sale of stock by. commission. Everything was in thenown hands. Since the Society had been in existence two years, they had progressed considerably, and one of tbe evidences of that was the present meeting. When once they realised that the concern was their own it was for them to support it ,in every possible way. If 'in making a start in Stratford the farmers of tbe district would give the Society their support, it could not but succeed. , Mr Lynskey then addressed ‘ the meeting, and in reviewing the history of the co-operative movement stated that it was orginally started 34 years ) ago in Canterbury, New Zealand, by ihl late Charles Ensor. Spp/ikjng of, own concern, be said that they etM-tcd with a paid up .ca pi till of &Y-SSB, the second year ’lt was ££0;316, and ‘for tbe present year thej r had a capital of £29,950. As to the shares allotted, the first year the number was 3,252, second year 5,589, and at the present time the total was 6,483. Of stock commissions, these for tbe first year wore £8,438, second year £12,336, and for the six months up to date amounted to no less than £10,132. By rebates earned on commission tbe farmer practically got bis share for nothing. The figqres showed in every department great progress. The dividend on capital was B.} per cent-., bonus on goods purchased 5 per cent., while rebate commissions Amounted to 30 per cent. As no farmer could bold more than 200 shares this kept out outside financiers, and in every way it was purely a farmers’ (their own) concern. It was a farmer’s institution wholly and solely,- and all tbe not profits were devoted to rebates on commission and purchases. Proceeding,- Mr Lynskey said tbe Farmers’ Co-operative Society bad come to stay, in d having purchased the saleyards of Messrs Webster, Dobson, and Co., which would be opened on Tuesday next, this was now their opportunity i to support tbe Society in this district.

“Further, said Mr Lynskey, “1 I would like to briefly draw your at- ' tention to tbe benefits to be derived by farmers in combining and assisting to the utmost co-operative concerns of this nature. The co-opera-tive concerns have certainly put an end to the pernicious system of trading which existed in country districts, that is of a farmer bringing in bis produce and dumping it at the local store and taking out goods and merchandise in return. No doubt some of you have bad this experience, and you know that at the end of the year you have come out with very little credit on your side, if any at all, and usually a debit balance. “Further, it has also stopped to a very great extent, tbe giving and taking of Bills of Discount. “In 1898 it was my privilege to represent the New Zealand Farmers’ Co-operative Association in Ashburton, and it was the custom of one'or more of the firms there that when a farmer purchased stock they took a three months’ bill to which they added exchange and stamps, and also 2) per cent, commissions. If the bill bad to bo renewed through tbe inability of tbe farmer to meet it at t-ie end of three months, it was renewed, and a further, 2i per cent, commission attached thereto. Co-operation in the South, however, bad put an end to this class of Hebrew dealing. “Another, advantage in this cooperative dealing is this, that if our year is a successful one tbe individual shareholders get tbe benefit of a rebate on their purchases and a commission rebate on their purchases of stock at auction sales. In the South a rebate of 30 per cent, has been paid, and here a rebate of 10 pei\cont. was made, and we are looking forward to the time when this Society will be in a financial position strong enough fio rebate the full' per ceni 'to'*'Us - :U 'loqif.clients . r> . j . . j <* ♦ j’|' f “I urge upon you the essentiality of an Association such as the Farmers’ Co-operative Society having a strong finance, and I appeal to the farmers to back up their own institution by taking out a good number of shares. This will increase the capital of the institution and put ns in a position to buy for cash and thus save interest and exchange and other charges., ~, _ , ~ __ “I alp confident that if the farmers pf (ifiejj district looked the matter squarely in the face they will agree with me. in their common interests it is their duty to hack up the institution which provides their greatest safeguard, and certainly if it did not rebate them a penny it would prevent private firms from exploiting the farmers.” v . /, ; In reply to a question as to the, iilientioii,pf the Society to start . h)# ■ 'store' here,' Mr lynskey .said that they were working under abnormal conditions, he thought it would be prudent at present “to go slow.” Mr Uniacke, who was well and favourably known in the district, would have charge of Stratford, and any further particulars desired could he obtained from headquarters. Mr N. B. Fryday informed the meeting that as his bonuses came to hand he sent them hack to purchase new fchares in the Organisation. He was quite satisfied, and would take up a further five shares. Mr Barley man said he had been a supporter of the co-operative system for many years. He thought they should do a lot of canvassing, and was sure they, would obtain good support. The Chairman agreed that it was advisable to do what they could to gel shares taken up. He had not the slightest doubt that the society would push ahead at Stratford. He had been a shareholder for eighteen months, and was well satisfied with results in the past they had carried a great deal on their hacks, and they should now recognise that the Society should greatly assist those who became members of it. Mr D. Todd (Inglewood), as a strong supporter of the co operative

principle, spoke in high terms of the business done in Inglewood. Mention was also made-of Opnnake, where, Mr Buckeridge said, the farmers who did not support the Society could probably bo counted on the lingers of one’s hands.

Several of the shareholders present increased the number of shares held. When it was mentioned that Stratford was well served for cattle sale, one of those present replied: Yes, but there is no rebate.” * On the motion of Air Marfell, seconded by Mr Fryday, a hearty vote of thanks was accorded to Messrs Death and Lynskey for their information, and the meeting then closed, several farmers afterwards giving in their names as shareholders in the Society.