CANTERBURY FARMERS' CO..OPERATIVE ASSOCIATION.

Temuka Leader, Issue 1663, 22 November 1887, Page 3

CANTERBURY FARMERS' CO..OPERATIVE ASSOCIATION.

... The seventh annual meeting of the j Canterbury Farmer's Co-operative Associa- j . tion look place in Timaru on Saturday last, Mr Joshua Page, Chairman of Direc. . tore, presiding. There was a large attendance of shareholders. ' *" Tbe report, which was rather lengthy, stated the Association h»d been considerably strengthened by the taking up of a number of new shares during the past 12 months. During the year ending 30tbi September, nearly 20,000 carcaaea of mutton were shipped to London on , "owners' account, as against about 4000 " earcasss for the previous year, and tbe Association's agent in London bad done ( bis best to realise the highest possible i price for the consignments. Another i Satiafactpry feature of the business of the ) Association was the large increase in the j sales of grain and other produce. Busi- } osas had greatly developed during the year. ThV advances made on wool j amounted to £21,007, against £6,846 -during the previous jear. The amount of ' £10,078 15s lid shown aa an asset for t goods on hand and afloat was certified by < ,MrR. E. Taylor to represent good sale. ( ablej stock. As showing the increasing ( confidence obtaining in the Association, -, it Was pointed out that shareholders had now £5884 8s 3d on deposit with the J Association. The half-yearly conference ' of delegates from the N.Z. Farmers' Co- I operative Association and the Canterbury \ one, held alternately at Christcburch and c Timaru, ware likely to result in great ] practical benefit to the Association. Tbe nonprofit for tbe year was £2605 17s 4d, , and tbe Directors reconimendtd a dividend ' , of8„p«)r cent., the transference to credit * of shareholders in the cspitalised bonun 1 account of a sum equal to 5 per cent, on I tbe goods purchased during the year, a bonus of 5 per cent, to the ruspective ] members of the staff on their salaries, and B the carrying forward to reserve fund (less , payment of auditors' and stock-takers' fees) tbe balance, amounting to £560. l The'reporttestirJed to tbe zeal exhibited 1 by the various members of the staff. The t number of new shares taken up waa 238. t . The Chairman moved tke adoption of i ks report. , Aa an amendment Mr Melville Gray J moved, and Mr Clulee seconded—" That . rthe profit for the ysar be allocs ted as follows:—8 per cent, dividend and 3 per £ c<fot. bonus, the balance, after paying < auditors' and stock-takers' foes and bonus ( to staff, to bs carried t» the reserve fund." t After some debate the amendment was T put and lost, and the report was adoptee. t After the Chairman bad addressed the meeting, Mr Kelland proposed that tbe number of directors be inceased to not less than 15 or more than 20. He felt suro that it would b» to the benefit of the Association to increase the number of ' directors, as. the whale of South Canter- 1 burycould then bo re pres ?nted.—Mr W. i DeKenty seconded the proposal, which ; waa carried by 35 against 32. , election of directors resulted as ( fQlltfws:—-Messrs J. Campbell, W. B. , Howsllj E. P. Sealoy, P.. A. Barker, D. H. [ j Gill'ibgbam, T. Mitchell, D. T. Carter, F.B. Barktr, A. Kel'and, J. g. Rnther- i ford, T. Jjfeoate, E. Tipping, »nd Jam«s King. ■,'«■■ Messrs Grainger and Mullins wore appointed auditors at £2O each. The Chairman bore testimony to the high qualifications of their manager, Mr Geo. Sbirteliffe. After.poms discussion on tbe bonus question, it wis decided that a recommendation/be forwardtd to the directors at their next meeting to raacind article No. 93, so that the bonuses may b« paid is cash. •.;.-■ the usual votes of thanks tarninated {he matting.