CO-OPERATIVE STOCK YARDS.

Taranaki Daily News, 10 November 1917, Page 3

CO-OPERATIVE STOCK YARDS.

MEETING OF URENUI FARMERS. There was a very fair attendance of farmers at Ilrenni on Thursday to hear Messrs Lvnskey (manager) and Buckcridge (director) of the Farmers' Co-Opera-tive Society. Mr. H. M. Pnrdie presided. Air. Buckeridge said he had visited Uronni many months back and ho had hoped that long ere this they .would have had the yards and store there.

Cnfortunately, there were some farmers who hold a wrong idea of what co-opera-tion really meant. , People generally had an idea that because it was run .by the people for the people, it could he nin without capital. That was wrong. N T o business that could be called a business could be run without cash. This applied to the co-operative- system, and -tlie niorji capital available the better for tlie society. They had had a- meteoric

.arcer, and doubted whether they could find a similar concern showing anything like these results either in Taranaki or elsewhere. Mr. Ralph, an authority on co-operative matters, had attended their annual meeting and was well pleased and surprised at the successful results.

The Taranaki Society had accomplished in three years, comparing the results cn sale of stock, etc., what'took his society 23 years. The district was probably tlie b(v;i in tlie Dominion to run a co-ojera-tive business. Since that- meeting the results had been beyond anticipation.

They hardly expected such rapid strides would have been made, especially when' they considered the amount of their paid-up capital to work on. To run

a business on sound lines they should turn their capital over three times They had not done so well as that, but they showed good' results. They had £40,000 paid-up capital, and this was being turned over every fortnight. They were

doing aii enormous business and weie looking for more support. In asking them to launch out it meant an additional cost, and it was up to the district to back them tip Riid take up their share of the business. He could assure them that if they had their own yards and stores at Uronui they would find it to the best advantage to the district. They had been told that the Farmers Co-op-erative played the devil with the towns in which they were established. This was not so. They had found rather that it was the backbone of the town. At Inglewood they would find that the cooperative sales brought the people to town, and the more people they had in the streets the better chance business people had to trade. Hawera was the headquarters of the society, and he was very sure that town would nob like to see them go oiit. In' three years they had branched out in several places and now had nine saleyards, probably three more were required, and they looked to that, district to take up shares. Cooperation meant that profits reverted back to the fanners. It was to the farmers to give the society the financial backing it deserved, and if this were done they would find they had taken on a sound investment. Tn past history the ■fock on which co-operative concerns had split was lack pf capital. They wished to avoid this. Hp could not be too in-

sistent on the matter, Mr. Lynskey said the question of cutting down concessions was a matter to 'be i§ft to the directors. He noticed that opposition concerns made a reduction and commission on certain lines in the yards. These reductions had been brought about through the competition of the Co-opera-tive Society, lie was pleased to say that his society were hopeful of giving a rebate of not 12 per cent., but 15 per cent. They were ambitious and trusted Ihcv would be able to give 3s in the .21, find later on, perhaps, a further increase. Tlicv were tßero to cater for the farmer ijl every possible manner but they also desired to rtin on sound lines, and the farmers should run the yards ai(d stores with the assistance of the society. The society, he could assure them, was a gilt-edged security and something in, the nature of a. gold mine. They had a paidup capitals of £+o,ooo, and a turn-over lietween £SO.OQO and £IOO 000 per month. They would thus see the need for move cash. Fprm.ers wtre allowed 14 days to fi-Y up, liut the society had to find the money and oqly £40:000 to I work on,

Jlr. Jones asked 'how many shares were lit present hold in Waitara and Ufenui The number is 181, To Sir. Geo. Taylor; Shares would he allotted when they were i-n reasonable distance of taking |h(i ' f ili)rdlc." —They could take up shares now. To another questioner it was stated that the shares were £ in each, a deposit of £1 being paid on application, and 10s every three months, the £5 being paid in 2J years. The other £5 would not V culled up. but frottld £? *,o the vjitalM ci.oi.nl r.'.coufi j. ?•) another iv'.ty, -tfr. LrftskcT s:«d t'ney ti-ottld wrwd trtt'a 'ft* r.wK v.'\ as soon fnuifl :!to support- warranted it. ■Mr. Jones said it was one of the finest investments a farmer could interest himself in, ftnd he hoped th'e farmers round

there would back lip the society. The ehairinan suggested they should see how many shaves were iiv the room and afterwards make a house-to-house canvass. In answer to Mr. Snrten, Mr. Lynskey said the interest paid out last year wjis six per cent. Mr. Buekeridge explained, why they were not calling up the full amount per share. In the South Island they issued preferential shares rather than do this. The uncalled capital of a company was the best trading asset tlioy could possess. Mr. Jones then moved he,artv vote* cf thanks to the spankers for nuking the Journey oui/ ttul plicing iho cf the MK.-S.sty 1;. Thou, :\iid also far ; tite promised in iuiura.— . Carried bv acclamation. j Seen after tjio meeting Mr. Lynskey expressed himsolf as wgll pleased witl'i the support accorded in sh&res applied for, and pronjises made.