PROGRESS ON THE FARM.

Auckland Star, Volume LXVII, Issue 226, 23 September 1936, Page 6

PROGRESS ON THE FARM.

/ Auckland's prosperity depends in a verylarge measure upon the great dairying district of the Waikato, and for this reason the very satisfactory report on the year's operations of the Farmers' Co-operative Auctioneering Company is of special interest to both town and country. The organisation is one of the largest of its kind in the Dominion, and its history during the slump period shows that it is also one of the best managed. A prudent policy adopted during the prosperous years found the company well equipped for the lean period, and through that time it improved its position steadily, while other companies in the same business were writing down their capital heavily. Advances to clients were reduced from £368,655 in 1931 to £198,454 in 1935. They have increased this year by £40,000, but that increase is the outcome of expansion of business, and is justified by the improved position in the industry generally. Throughout the whole period Vie preference dividend has been paid in full, subject, of course, to the adjustment made by Parliament, and now the dividend on ordinary shares has been brought up to 4i per cent, the net profit for the year being £42,526. The position of the company is evidence of the strength and so''dity of the i Waikato as a producing centre.