A HUGE TURNOVER
CANTERBURY FARMERS' COOP. By Telegraph—Press Association. Christchurch, Last Night. At an extraordinary general- meeting of the New Zealand Fanners' Co-opera-tive Association of Canterbury on Saturday it was decided by 121 to 31, "That the capital of the association be increased to £1,000,000 by the creation of 10,000 new ordinary shares at £5 each." At the annual meeting held subscquently, the chairman, in moving the adoption of the annual report and balancesheet, said that the aggregate turnover of all operations for the year totalled the colossal sum of £2,0(11,688, being an increase for the twelve months of £f>lo,7">4 As far as the financial position of the association was concerned, he thought that it would be conceded that the finances were now upon a thoroughly sound basis. Still, as he had explained in his remarks with reference to the creation of additional capital, it was necessary with a growing business Mich as the association's, to see that the capital account moved ahead consistent with the business as a whole. The report and balance-sheet were unanimously adopted.
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Taranaki Daily News, Volume LIV, Issue 74, 18 September 1911, Page 8
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177A HUGE TURNOVER Taranaki Daily News, Volume LIV, Issue 74, 18 September 1911, Page 8
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