THE CO-OPERATIVE ASSOCIATION.

Waikato Times, Volume XXVIII, Issue 2282, 24 February 1887, Page 3

THE CO-OPERATIVE ASSOCIATION.

■ TO THE BDITOR. .; . Sib,—You will,much oblige by inserting the following in your valuable medium, r£ : North New Zealand .Farmer's Co-operative: Association. I ,wish the shareholders to know thatthe Hamilton branch has never had justice in the manager's l annual state-, ments, he having .always shown that this -branch made a loss along with the others. I was always, able-andwilline to prove to the contrary, but was never allowed the opportunity ; but at the last annual meeting (as some of tbeshareholders who were present are"aware)Vl got the manager to admit •#iat j>n branch _had. made a small profit. I was prepared tpshow and did show to the directors, that (it had.: made ? .a very substantial profit, but our directors deemed:'it 1 best hot to make it. known to the. shareholders. I felt very much annoyed, 'but being a senyant felt it my duty, to obey'; Further, I wish to say that> this branch is not responsible for any por-* tion of. the loss now shown in .the last balance-sheet; but that it made not less than £600 nett profit, for the two years I: had the pleasure of conducting the' business, and I feel certain, if the, 'branch had been on . its .own bottom,, that the snnr , would have been paid to the shareholders ,in .dividends. I..can only''add- that_ I am. truly sorry .that such a valuable institution should so early have come to'grief.—Yours truly, . ■ , ■•'■ .■ : •.. •■ -■ '■<'''' >■ ■■•. . ~;.■ John .Hamilton, 2l'et... 'February, ■lew. ', ■....,