AUCKLAND CO-OPERATIVE BOOT AND SHOE COMPANY.

Auckland Star, Volume XXVIII, Issue 205, 2 September 1897, Page 5

AUCKLAND CO-OPERATIVE BOOT AND SHOE COMPANY.

The annual meeting of the Auckland Cooperative Boob and Shoo Company was held on Aug. 31 at the office, Albert-street, Mr J. King presiding. There was a good attendance. The Secretary, Mr H. Deareley, read the annual report and balance-sheet. The reporb was as follows *. —

"Wo have pleasure in submitting to yon for your approval our sixth annual reporb and balance-sheet. In our last report we anticipated a successful year, and we are pleased to be able to state that our expectations have beon realised as the balance-sheet submitted to yon for your approval will endorse. Our turnover during the year just ended has totalled £10,239 17s Bd. a very fair amounb with a capital of £1,300. The wages paid amounts to £3,851 __s 6d, whilst a further sum of £346 2s 8d has been paid away for managemenb, accountancy," trade and office expenses and auditors fees, a very modest sum for the amount, of work necessary for the profitable and effective working of a public company. The profit and loss account shows good results for the year's operations; no less a sum than £607 lis 3d being placed to our

crodib, thab amount including a credit balance of £83 10s brought forward from last year, bo that tho actual profit for the year has bee*. £524 lis 3d, after allowing for depreciation, etc. With this amount) — £524 lis 3d—-wo propose to pay 8 per cent, on capital and 1 per cent, bonus on wages; after paying this amount she balance, £450, will be carried to reserve fund. The manufactures of the Company are coming into great favour with the trade, so that we find the present premises wholly inadequate for the increased business ; therefore, as most present are aware, we have taken steps to secure more commodious premises, tho plan for which we have laid before you for your inspection. With your aid we will, when completed, have a roomy, well ventilated factory, suibed for our growiieg requirements, which will enable us to increaso our turnover, and therefore increase tho profits of the Company. To show thab our Advance brand of boots and shoes are gaining in popularity, no sooner had wo got our summer samples oub than the orders began to come in, so thai we can reasonably anticipate a good run of work till Christmas. We would like, without making invidious distinction, to mention tiie work done by our foreman, Mr W. H. Boys, iv connection with the clicking, department. Ho has succeeded in turning oub uppers o_ such excellency thab we have been enabled to command the bespoke upper trade of the city. The most cordial relationship exists amongst all hands engaged in bhe factory, and the directors have pleasure in submitting to you for your approval the item before mentioned as bonus on wages, and hope that you will see clear to pass it as recommended. The resulb of the year's work has caused renewed inquiries to be made for the Company's shares, aud already quite a number have been applied for, the sale of which will giyo us increased capital wibh which we will be enabled to carry on the trade ot tho Company wibh greater profit to the shareholders. With tho careful and prudent m-.nHgoa_.enb of the past continued tho Company that ntarted cix years ago with co email a beginning bids fair to take tho premier position in tho leather trado of Auckland. So thab if each one interested does his individunl best Buch results may bo fully anticipated."

On the motion of Mr VV right the report and balance aheeb were adopted.

Several shareholders spoke in comm-in-dation of the careful manatremont which had produced such very satisfactory results, and a vote of thanks was passed to the manager, directors and employees.

A special meeting was then held to confirm the resolution adopted aba previous meeting to call up 10s per shore additional for the purpose of providing factory accommodation on the sito lutely secured near tho Salvation Army Barracks. The resolution was unanimously confirmed, and a general conversation ensued, in which pleasure was expressed at the success achieved by this co-operative enterprise.