THE W.P.C.A., LTD.

Wairarapa Age, Volume XXXII, Issue 9595, 15 September 1909, Page 5

THE W.P.C.A., LTD.

ANNUAL, REPORT.

The following is the annual report of the Wairarapa Farmers' Cooperative Assochtion for the year ending July 3Jst, 1909:-In presenting the eighteenth annual report and balance-sheet, your Directors regret that the result, is not as profitable as in previous vears.

The depression of the past year has materially aftected the business. Expetißes have been reduced, and it is hoped that this year the Association will be able to take advantage of these economies, of the I brighter prospects now in sight throughout the Dominion. The strong financial position of the Association has been more than maintained. The liabilities have been reduced by £31,000. Af*er having made due provision for bad and doubtful debts, depreciation of stock and plant, and auditors' fees, the net profit for the year is £6,436 Is 2d. To this has to be added £6.969 9s 3d carried forward, making the total available for division £13,405 10s sd. The Directors.recommend a distri■ bution as iollows •. Payment of dividend on paid-up captal, 6 per cent. Payment of bonus on paid-up capital, 3 per cent. Payment of bonu to shareholders on their purchases, 3 per cent. After providing for the Government tax and honorarium to Directors, there will remain £4,400 to carry forward to profit and loss account.

All buildings and plant are in good order and repair. The stocks are new, well-bought, suitable for our trade, and of excellent value. The staff is efficient and capable. The retiring Directors are Meßsrs D. J. Nathan, L. Caselberg and V E. Donald, who, being eligible, offer themselves for re-election. The Auditors, Messrs R. T. Badham and W. B. Chennells, also offer themselves for re-election. M. CASELBERG, Chairman.