SUCCESSFUL YEAR

Wairarapa Times-Age, 12 November 1942, Page 6

SUCCESSFUL YEAR

0 FARMERS’ DISTRIBUTING CO. PAYMENT OF DIVIDEND RECOMMENDED. ' The annual report of the New Zealand Farmers’ Co-operative Distributing Company, which is signed by Thomas Currie, states: —During the year rebates to shareholders were paid as follows: 10 per cent on stock commissions and 2J per cent on all goods purchased. After making provision for book debts and for depreciation on buildings, plant, motor cars, and furniture, the profit amounts to £26,755 12s 4d compared with £22,442 Ils lid last year. With the balance of £9.360 18s lOd brought forward from last year, there is available in profit and loss appropriation account, the sum of £36,116 Ils 2d which it is recommended be allocated as follows: —To pay to shareholders a dividend at the rate of five per cent free of taxation; to provide sufficient to pay income, social and national security taxes, and to carry forward the balance, estimated at £10,600.

1 The retiring directors are Messrs T. n Currie, D. Scott and G. E. Yule, all of f whom, being eligible, have been nome inated, and offer themselves for re- „ election. The retiring auditor, Mr S. E. Lambert, F.P.A., N.Z., has been r nominated and offers himself for reelection.