IMPROVED PREMISES.

Waikato Times, Volume 121, Issue 20257, 28 July 1937, Page 2

IMPROVED PREMISES.

EXPENDITURE OF £B2OO. MORRINSVILLE DAIRY COMPANY. (Times Special Reporter.) MORRINSVILLE, Tuesday. Improvements and extensions to the plant and buildings of the Morrinsville Co-operative Dairy Company, which are at present in the course of completion, will entail an expenditure of £4500, stated the chairman, Mr J. E. Leeson, at the annual' meeting of the oompany to-day. The erection of a new store, at a cost of £3700, Is also well In hand; but Mr Leeson Intimated that the expenditure under both these heads will be met out of reserves and capital, and will not affect the pay-out to suppliers In any way. The aim of the oompany in operating the store, he went on, was service to shareholders and not profit, but It was not lawful always to resell at cost price. For that reason during the past year the store had returned ft net profit of £1965, of which £1399 had been distributed by way of a 4 per cent, bonus, £4OO had been placed to reserves and £166 carried forward. The ereotion of the new store building would enable larger stocks to be carried and greater service given to aharcholders.