FARMERS' CO-OPERATIVE CONCERN

Wairarapa Age, Volume XXXII, Issue 10716, 23 September 1912, Page 3

FARMERS' CO-OPERATIVE CONCERN

EE VIEW Of THE YI2AJI. (Jjj' iejoiirann—A-Sseeiat.K.iu.l T.IMARU. Last Xight. At tlie annual meeting ot the Ear- ' liters' Co-operative Association to-day, John Talbot, chairman, in a review of the year, mentioned the opening of a new branch at Eairlie, the buying of the large business of Manchester and Co., Waimate, and the extension of buildings in Timaru. The number of shareholders was now 3050. The buildings and sites were valued at £82.729, and the total working capital in use (£288,000) was increased this year by.,the assistance afforded to oc- , cupiers of new settlements in advances for purchase of stock. The gross turnover was £944,710 net, equal to that of 1908. The gross profits on merchandise was £-"1.000. The number of employees is 284. Mr Talbot congratulated the fanners and pastoralists on the successful year, despite , various drawbacks, the -shortage of shipping for the transport of grain to the United Kingdom .having been a -curee of loss, keeping down Ho regretted that land Intel go'.iO ir beyond reason, partly as a remit cf a specie'-! of gambling, which in turn was eucouragcd by tho high prices. The labour difficulty in field and farm house was a serious matter for tho industry. Resolutions were carried to inej-ease tho nominal capital of £200.000 by £7a,090 in G per cent preference shares, this being required to nient recent and prospective developments of business. The retiring director"; were re-elected. The election this vear was conducted by post, avoiding tho use of proxies, to which some shareholders had strongly objected.