PROFITS AND EXPENSES.

Auckland Star, Volume XLVII, Issue 68, 20 March 1916, Page 7

PROFITS AND EXPENSES.

f A FARMER'S COMPLAINT. During the discussion on the balancesheet at the annual meeting of the Waikato Farmers' Co-operative Auctioneering Company, at Hamilton, on Saturday, Mr. Booth (Cambridge), complained that the item of £43.000 expenses was excessive. In 1013 V.)c gross receipts to- , tailed only £40.000, the expenses that year amounting to £18,000. During the I intervening period the net profits had t only risen £5,000. It was, he said, costs ing the shareholders £30,000 a year "to . make pie." , Mr. Caldwell remarked that no busi-- , ness at the present time could be run . at the same expense as a few years ago. Mr. W. Ncwell considered the comi pany should do its own exporting. He , I also complained that the commissions s charged by the company were too high. 3 The chairman (Mr. J. Barugh) de--3 clared that the export trade was too 3 1 risky an undertaking to enter into at the present time, while it would be danigerous to lower the commissions just II now. . | Mr. E. Goodwin moved that the auc- • tioneering charge be 2} per cent in addi- . tion to a yarding fee, dairy stock cxc eluded, but an amendment by Mr. ti. .! Primrose, that the question of fees lie i! left to the discretion of the directors, y j was carried by a large majority. -~ The balance-sheet was adopted. - At a subsequent meeting it was de- - cided to increase the directorate to nine c members. A poll of the shareholders c will be taken for the additional seat on 3 the Board. f,j Mr. S. Hawkins was re-elected to the d directorate, and Messrs. Bruce and Engllish were re-appointed auditors.