FARMERS' AUCTIONEERING COMPANY.
a A SUCCESSFUL SEAR. (By Telegraph.—Own Correspondent.) rL-__ILTON, tins day. The second annual meeting of tha shareholders of the Waikato Farmers' Auctioneering Company was held to-day. The report stated that, considering the severe drought, the fall in wool values at the commencement of the year, and the later financial stringency throughout the Dominion, the result of the year's working _a3 been very satisfactory and much beyond expectations of the directors. Including a sum of £531 14s. Id. brought forward last year, the net amount of profits available for distribution was £8,366 15s. 7d. The chairman said it was proposed to pay a dividend of 6 per cent, representing £2812, and give a rebate of 15 per ceut on all commissions, and 2J per cent rebate on all purchases of seeds, ■which absorbed half the profits (£4,000). It was decided to add £1,750 to the reserve fund, making a total of £3,750. Bad debts had been increased by £1,0.00, making a total in two years of £1,500. The amount paid for goodwill had been reduced by £1,000, leaving a balance of £2,500. In two years £1,000 had been added to the business in reserve funds and reduction of good-will. Mr. W. G. Park was re-elected to the directorate, and Mr. Stanley Chambers was re-appointed auditor. During discussion farmers complained of tbe Auckland wool markets. It was asserted that Waikato fanners were compelled to accept twopence per pound less for the same class of Wool produced ■ in other parts of the colony, and 15s. to 20s. less for chaff. It was suggested ■ that the directors should consider the advisability of going in on a large scale, supplying the. whole requirements of farmers.
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