TE AWAMUTU.

Waikato Times, Volume XXVI, Issue 2130, 4 March 1886, Page 3

TE AWAMUTU.

Tub Co-operative Associatfon have sent round the directors' leport and balancesheet, and a more meagie balance-sheet, a.s regatds details, was uuver complied. One of the fiist things lh.it .strikes the reader is the enormous cost of working tho concern, no less a auin than £2801 5s 2d being absorbed in the working, this is exclusive of » sum of £312 14s 7d under the head of general charges, or a total of £3110 19a Ud. fhe shareholder- are in a state <>f blissful ignorance as to what items come u»dt>r the last mentioned head. Take the item " wagcH and labour," £8o"!l 4s lid, now that is out of all proportiui) to the amount ol bu-iness done by the association ; it cannot include the expenses of the Waikatu blanches, as each <>f those has it- expense* set down against it -eperately. We must theiefore come so the conclusion th.it it was expended in Auckland, and this large sum ia evidently exclu-ive of the manager* salary, which, I presume, is included in the item " salaiies " £528 12b 4d. Here again is -mother ])U/./le. How nunj salaries deos that item lepresmt? I am told the manager and secretary (the office are, if I mistake not, combined) gets only £200 a year. The bianeh manager a salai ies cannot bo included, as they aro obviouslyincluded in the expen-es of the vaiious branches, so that the only conclusion to be ai rived at is that at least two clerks must be employed besides the manager, and that gives rise to the question, Are they required? that is, providing they are empbyod. Tho next items are i'3!)7 7s fld, £001 2s fld, and £347 Kss 10ii, working expenses of Hamilton, Cambridge, and Tv Awnmutu, respectively. Very laiy< amounts, when not one of the branch uianagers gets as high as £200 a year. How are those expenses made up? One peison suggested freight, &c, but that cannot be, as the purchaser of inanuies, &c, , has to pay that. Perhaps bad debts aie in- ! eluded ;if .so, it is a curious way of stating it. Another question shareholders would like answered is, What comes under the head of general charges ? Howe\ er, I suppose all these matters will be elucidated.it the meeting oa the oth mst. Tho ass >cw tion is to be congratulated on the success it has attained in getting a lot of debts on their books, no le-s a sum than £404(5 8s 4d, a nice little sum for a c onpany with :v very small capital. No wonder they cannot get on w ith such a sum outstanding. As there is nothing said about bad and doubtful debts that amount is, i suppose, to bo taken as good, but good though it may be, it will take borne time to collect it, and in the meantime they must pay for accommodation, for it is quite e\ident they cannot pay cash for what ?hey get. A great deal was said of doing only a cash trade at first, but that could not perhaps have been done very well, but £4046 is too big a sum to have <mt«t:mdl!ig ; the b:i--iiic»» ia not so vurj large that such an amaunt can lie out w ithout injury to it. Toe directois attribute the loss to "keen competition, together with bad debts and allowances for depreciation of stock." Now this excuse is a very poor one. How is it that private traders have those difficulties to contend with and still manage to keep solvrnt? Some of them have no uncalled capital to come on to recoup them if they lose, and yet they keep going on year after year, which is more than the association will be able to do for two years longer unless there is an improvement. The excuse of ke j n cometition is nonsense when merchants in tho same line of business can keep going at a profit, their businassea must be better than this one, for they could not stand a yearly loss of £813. A report showing the number of shareholders doing business with th" association, and the amount of business they do would be interesting, for of course outsiders do a certain amount of business with it as well as shareholders. Another interesting statement — if it could be got — would lie the nuuihei of shareholders doing business with the Auckland merchants, and the amount of the business so done. Together with these reports, I would like the reasons fin the shareholders not doing business with their own company in preference to the merchants. That, however, may not be necessary in the face of the statement one constantly hears made, that manures, &c, are to be nad cheaper, and of better quality from the merchant than from the Association. Where do the directors purchose their manures and seeds? Do they buy them direct from the manuf.ictuier and grower, or do thpy buy them fiom the Auckland merchants. I heard of ono of tho latter boasting that he could sell cheaper than the Co-ope»atiye, because shey brought their stock from him. Surely it would be just as easy to go diiect to the manufacturer as buy locally. There are kindred associations .-it Home which would willingly give all the assistance in theii power to this one. Let the shareholder on the oth insist on a clear explanation of everything, and when electing dhoctors leave out the names of the two Auckland director-*. Do tlio credulous -.haiehi'lders fondly imagine that these men have the interc.st.3 of tho Association at heait ? Common sense should teach them that their intetests and the interests of these men are opposed to each other V What do they care about farmers and their welfare beyond getting all they can out of them. It is to be hoped the business of the As&ociation will bo pushed better next year than it was last year. Go where you will you will meet agents or travellers of the town merchants pushing business foi their employers ; but how often does one meet the Co-opera-tive traveller pushing business ? Not often, a radical change is required, let the best man they can find be sent to Auckland to take charpo and let him manage the concern, pay him well and let him give all his time to it. From the constantly recurring complaints about account sales not being promptly rendered I should say the present man is not giving satisfaction. It appears to me there has been a series of mistakes from first to last, the great) st of which was buying out Messrs Clark and Gane's businesss in Cambridge. It did not prevent opposition, for they are now opposed there by one of th foremost, it not the foremost merchant in that business in Auckland, and to crown all a sum of over three thousand pounds has been spent in working a business that a private individual could have worked for less than one third of that amount, Let those interested look to it at the meeting and make another effort to lift themseh es.out of the.mire of depression. Let them have an explanation of the enormous amounts absorbed in the working of the various branches, and the Auckland depot also, and keep Auckland mci chants off the directorate. Almost any one is preferable of them.— (Own Correspondent).

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