NORTH OTAGO UNITED FRIENDLY SOCIETIES' DISPENSARY.

NZ Truth, 15 March 1924, Page 13

NORTH OTAGO UNITED FRIENDLY SOCIETIES' DISPENSARY.

Twelfth Annual Report and BalanceSheet. When one finds a business run on a capital account of only £1193, which has a reserve fund of £221 at the end of twelve years, together with the sum of undivided profits amounting to £2827 ln Its hands, nothing but com.mendatlon on the part of "Cambist" could be expected. It is a wonderful achievement, to say the least about it. The main reason for this unusual condition of affairs springs from the cooperative foundation on which the business ls built. Following that comes another Important factor, namely, that all or most of the profits gathered from the business have been left ln the place where they originated. If the prices of the various medical dopes dispensed by this society have been reasonable, that advantage must have been enjoyed m a more or less degree by the parties who m their blind faith swallowed the noxious mixtures mostly Imposed upon their delicate constitutions by the medical unionists. Any business can prosper if it works upon a profit basis, and if these profits are kept within the firm and not scattered away In the shape of extravagance by rebates or bonus prodigality. The assets total £4260, and appear to be first class items. The shop property has been Improved by reduction by £300 of the mortgage, and now shows an equity of £1210. As there are no trade liabilities, this position Is splendid. Over £430 of ready money at hand and no debts — why, may the blessing of Midas abide for ever upon this well managed little business!