THE W.F.C.A.

Wairarapa Age, Volume XXXII, Issue 10424, 15 September 1911, Page 4

THE W.F.C.A.

The twentieitih annual report of the Wairarapa Farmers' Co-operative Association, published to-day, makes satisfactory. adding. A profit of £16,119, aditer making provision for bad audi doubtful' debts and for depreciation, is at once an indication that the depression which has been experienced in the southern portion of the North Island is lifting, and that, sOjfaa- as the'Wairarapa is concerned!, the financial stringency has passed. The depression of the last few years, which was produced by a Variety of causes, placed a severe strain .upon the larger commercial institutions of the WeMinglton Province, and it was only by prudent management thlat disaster was averted'. . That a firm of such dimensions as> tihe W.F.C.A. should have weathered the storm and ,placed itself; in audh a position that it can to-day declare a dividend! equal to 9 per cent., besides giving bonuses to purchasers and! employees, and adding, a substantial mim to the already strong reserve fund), is evidence of the financial strength of the institution,, the marvellous, recuperative powers of the district, and the vigorous and progressive spirit which animates the management. It would, of course, be absurd to argue that the satisfactory condition revealed, is due to the closing of the hotels- in Masterton. It is reasonable to assume, however, that if No-license has not been responsible in come., measure for the happy state of affairs that' exi'jsltb, it, at anyrate, hn& not produced! those dire results which croakers, hod anticipated. The truth of the matter is" that am- old-estab-lished, and well-conducted business cannot Ibe seriously, affected: by any local influence, other than the shortage of money produced by depre&sed markets' or commercial crise'S. Whatever may be the causes, the fact remains tihat the operations 'of the past year have been eminently sucoesful, and Master ton, together with other townships in the Wairarapa, should rejoice in the knowledge that the era of prosperity is returning. The report says, that the "general trade has been, larger and more satisfactory," whifah may be taken as an indication that the increase in business has been general throughr out ithe district.