WAIRARAPA FARMERS' COOPERATIVE ASSOCIATION.

Wairarapa Age, Volume XXIX, Issue 8239, 18 September 1906, Page 6

WAIRARAPA FARMERS' COOPERATIVE ASSOCIATION.

ANNUAL REPORT. The following is the fifteenth annual report to be presented to the ' annual raeetiug of the shareholders of the W.F.C.A., Ltd.:— Your direotors have pleasure in presenting to shareholders the fifteenth annual report and balance sheet, which is very satisfactory. After having made due provision for bad and doubtful debts, depreciation on ptock and plant, and paid auditoro' fees, the net profit on the year's trausactioiin is £13,433, to which has to bo added £7,005 carried forward from last yeur's Profit and Loss Account, making the total available for division of £20,438. Yow directors recommend the distribution i)s follows:— Payment of dividend od paid-up oapital, 6 per ceut.; payment of bonus on tia'd-up capital, 3 percent.; bonus to shareholders on their purchases, 3 per cent.; bouus to employees on their salaries, 3 per cent.; a tonus ttf managers and to heads of such departments which have shown a substantial increase of profitable trade during the year; to carry to reserve £5,000, which will stand at £25,058. After paving the Government Jccome Tux, r planing £2OO to the Employees' Accident Fund, and honorarium to director, there wi!l remain a sum of £5,013 to carry forward to next year's Profit and Loss Account. Your directors are pleased in being able to stato that the business of the Association has iucreased considerably during the year, the same bgiug of a sound and profitable nature. The stocks are uew, well selected, suitable for our trade, and of good value. The buildings and plant are in good order and repair. The properties are worth considerably more thau the book values. The staff is efficient and capable. Ine retiring directors are Messrs L. Casel I"erg, D. J. Nathan, and D. Donald, who, being eligible, offer themselves for re eleotiou. The auditors, Messrs R. T. Badham and W. B. Ohennells, also offer themselves for re-election.