FARMERS’ CO-OP SOCIETY

Taranaki Central Press, Volume IV, Issue 451, 5 June 1937, Page 4

FARMERS’ CO-OP SOCIETY

INCREASED PROFITS Dividend Of Five Per Cent. “The profit, after making full provision for book debts and depreciation on property and pliant, and aftei payment of a rebate to shareholders of 2 per cent, on merchandise, and of 10 per cent, on stock commissions, amounts to £34,891 17s 4d,” states the 23rd report and statement of accounts to be presented at the annual meeting of th e Farmers' Co-open.itive Organisation Society of New Zealand, Ltd, which will be held at Hawera on June 19. Of this amount £13,938 5s is required for income tax, leaving a nett balance of £20,953 12s 4d. This amount, with the balance brought forward from last, year, leaves £26,352 Ils 8d available in the profit and loss appropriation account. Of th e amount in the profit and loss appropriation account the directors.' recommend that £10,495 3 s should be paid to shareholders as a 5 par cent, dividend, that £5OOO should be added <to the general reserve account, that £lOOO should be transferred to the property account, and that the galance be carried forward.