AUCKLAND FARMERS' UNION.

Auckland Star, Volume XLIII, Issue 214, 6 September 1912, Page 7

AUCKLAND FARMERS' UNION.

, LAST YEAR'S PROGRESS. (By Telegraph.—Own Correspondent.) WHANUAREI, Thursday. The tenth annual meeting: of the Auckland Farmers' Union was lielil last night, Mr Maurice Harding (chairman of directors) iiresicrinj;. There was a good attendance of shareJioldere, in addition to the whole of tie Board. The annual report JUMI babiTt«>-sheot were adopted. The rrport stated that, as showing the progress <>f the Onlou since its Inception in September, 1903, that the total number of shares allotted lip to 4th December, 3!XKt, when am«leamation -with Messrs Wukelln, Crane »n<l Co. was decided on, was 815 of £0 each to 377 shareholder*, with a paid-up capital of £l.S.yr W.i, while from the bal-ance-sheet as at 80th June I!H2, tigures were KIJM7 £1 shares allotted, with a paidup capital ,a J333.2:*> 0/6. The shareholders now numbered 1.019. During the year the directors took power to Imrrense the ordinary share capital of the Company from I ;e2r>,ooo to £50.000. Elvery Unwrtinent lv I whii'h the Union <11d bnslTiess had shown n I record Increase, the total turnover having I advanced almost 50 per cent over lust year. i The directors were gratified to note that Ihe stock .business of the Union continues Jto be well supported, showing a considerable Increase iv the past year. The iproflt and low «e<rount showed a credit balance for the .rear's working of. £.1.30!) !)/7. added to balance brmight forward from last year of £J,B;KJ :{/7. makluß a total of IS/2. 'Dip dlrertnrs rrconuoendiHl aJloeatlooi of this amount us I under:—Dividend on ordinary slimes at «1 per cent per annum, £1,770 '2/10; rebate ou | stock canunlesloiu to shareholders of -0 I 'per cent, £U,000; write off premises. £«:» ! 16/8; write off goodwill. £13« 14/4; re- | serve fund, £2,000; balance carried forward, £11.829 l»/7: total, £T,201 1&/2. In moving the adoption of the report and balaDce-s]ioi>t, the Chairman eonjrratnlaled shareholders on the Bntl.sfa<rtory amount of business conducted, during the year disclosed by the bnlance-elipet. The outlook for ihe future he considered most cnmiiriiffing. Business was growing, so that I prospects lor the future were bright. lie I Maw no reason why the ■pTOirres.s made dur. ! ing the year should not be men- I h<lll <-ont(nu«l during the present twelve months. . it would be noticed that they had recommended si rebate to shareholders of 'Jo per -cent off their stork rommbwdoiie, ns well as ■placing £2,000 to reserve as a iprerairtlonaxy measure in view of the present stringency -*rt the money murkot. It was a jruorl testimony of the stability of shareholders tlwt the arrears on the- share capital account were only fTiTCI. Durln« the year the share capital hud advanced lo 11 total of £:Ei,:i:-,{l, tJic number of shareholders beliij; 1,010. Thlß prnsress nhowod thaT the r-nmpany »-as jnstltied In taking steps 10 extend the "share ilst hy taking power, ns was done recently. 10 issue an extra 2.WSO ordinary Mhnres. lie hoped that the next step would lie an ex-ti-nslon to IOO.onO. The expansion of the Dillon's operations was not at an end, as personally he considered It hart Just begun, and when he looked round and raw lie mnnrnmccnt unset that they had In thus Northern Peninsula, he was not afraid to Kay II wns an nssei worthy of <lev<-loiimoTii. In the North they had splendid territory, :ilmnsi four million arres of land, the buj; of which was capable of development w> jih to make It stork-producing, while at the 'present time- tbfy hail to realltw only a !fttie over half a million acres had been at all Improved. When they were pnshlng the Northern country, they most, not forcet the nvajmltlcent asset of the Northern climate, which whs equal to -from hnlf to 11 slieep to the acre. no referred optimistic ally to the fiitnri' turnover of ihe I nlon. Messrs A. R. ("rani-. 1). I<"rnlay«nii. anil 1.. W. Nelson wen re-elected lo the Board. Mr B. <:. pinker was rc:ipi«>!nted auditor, with Mr li. Stanley Chambers sis associate auditor. T.he manager (Mr A. It. Crnnei spoke on behalf of the Ktnft". lie was pleaded to share Inr kudos with his brotber-ollicc.rs.