The Wairarapa Farmers' Co-Operative Association, Limited.

Wairarapa Daily Times, Volume XIII, Issue 4064, 16 March 1892, Page 2

The Wairarapa Farmers' Co-Opera-tive Association, Limited.

At the last meeting of the above A Association, Mr M, Caselberg, who* presided, referred at some length the stops which had been taken since . the formation of the Association, Various objections that were takon to the project had been anticipated, su'oh as the quality of the stook, and possible over-valuing of the various properties,, The desire of the promoters from the first had been that everything done should be fair, square, and above board, because they knew that only by • adopting such-a course could the m* fidence on tho part of shareholders and the public be inspired, which was essential to the prosperity of any busi. ness, About tho boat experts proour-: able had therefore been secured to examine values and accounts. Mr J. Kirltealdie, of Kirkcaldie and Stains, Wellington, had oarefully examined tho stock and reported on its value in an elaborate document whioh was at the disposal of the directors and shareholders, and whioh, he might briefly state, bore uuquestionablo testimony to the fact that the goods had been rather undervalued than otherwise, The book debts absolutely assured ; being guaranteed by the vendors, under a deed drawn up by Messrs Bell, Gully and Izard. The different business premises, at Masterton, Grey town andTinui, were sold to the Association at the Property Tax Valuation, which, he believed, was less than tboy would realise in the market, Finally, the accounts prepared in connection with the taking ovor of the property and stocks of the firms of Messrs M. Caselberg & Co,, at Masterton and Greytown, and of Joseph Katban & Co,, Tinui, had been carefully oxamined and audited by Mr Badhani, of Messrs Ouningham, Bad> ham and Co,, accountants, The result of this was that without any great effort shares were being eagerly takon up, The vendors had takon up 6000 shares at. £5. each, representing, £BO,OOO, Within threo weeks tho public, or rather 200 applicants, hud been alloted 2000 shares, representing ti value of £IO,OOO, Ab a proof of the confidenco that had been shares were being applied for doily, W chiefly by the customers of the late ( firms. It was the intention, however, ofthedirectorstoclosothe share list shortly, as they anticipate that the balanco of the shares will soil at a premium later on.

Tlio Directors present oxpreaßed themselves highly satietied with what bad been done, and some routine business having been transacted the meeting closed.