FARMERS' CO-OPERATIVE CO.

Auckland Star, Volume LI, Issue 77, 30 March 1920, Page 7

FARMERS' CO-OPERATIVE CO.

A RECORD TEAR. The annual meeting of the Fanners , Coopeiaiive Auctioneering Company. Ltd.. was J held at Hamilton nn Saturday. Mr. J. I i-'-arugh, chairman of directors, prce'.drKl over j a attendance of shareholders. The which has been already pubii>aed. wen 1 adopted. j Ciolders on the company's satisfactory financial position. Duriug the period under review allotment** were made: Ordinary I shares representing 17.W- shares of i"i ] allotments of. "B" preference shares of £4 each, representing 65.350 shares sold, at par. These allotments, plus calls paid, ad"ded £K),710 r> to working funds, nud increase*! i uncalled capital by £67.440. The number I of shareholders haii steadily mc reused, mid cow stflnds Ht 4,1T.rt3. .He ssid the compun.f I had paid a louslstentjy good rate of divi-j denri. and had made liberal rebates to sba.iebolders which, in tbe aggregate, amounted to no less than £237,850. The I company's assets were miraclent to pay all | I liabilities, and then leave a sum of £SO,i;.*i!j i !13 6 as a surplus, equalling 27.37 per cent, j jon the paid-up capital. The turnover for I i being" no less than £-.825.t>43. showing au r i'he percentage of net prutlts to turnover was oalv 1.4S per cent., being .U7 per cent. I less than last year. It was equivalent j to lS>/7 for every £100 of business done, and ! holders by waj of dividend. After rrview- ! ing tbe operatlone of the company at length, I Mr. Uarugh moved the adoption of the ] report. Mr. Ewen McGregor, in seconding the adoption of the report, paid a tribute to the work of the directors, and wished the company continued success. Mr. W. Carr Rollett snid that the pa;isof departments. Referring to the question ' gested that the directors should carefully | i the question of pnrchasing any- ' thing from America, and should not pur- ' chase more than was absolutely necessary. I MessTß. T. Paterson and H. J. Gill were j re-elected to the directorate, and Mr. W. | f Senvill was elected a new director. I Messrs. Bruce and Luxford were reelected anditom. and Mr. G. EdgecumDo company scrutineer. Votes of thanks were passed to the chairJ man and staff. I