THE WORST OVER.
Northland co-op. losses. mi:etixo decides to carry on. <r.y Telesrauli.—l'r«« Aivni-iatlnn.) WHAXOARKT. this day. The twenty-first annual meeting of the Xorth Auckland Co-operative Company, Ltd.. was he.d in tlic company's ciiiioes. Wliangarei. last evening. There was a large muster of shareholders, the chairman of ilirwtoi-H, Mr.:Jluurice Harding, of Wellington Park, l'anmure, heing in the chair. The aiiimul report showed that including had debts and depreciation the company's operations has resulted in ,i hiss uf'£Uo3ii for the twelve months t<i 311 th .Jillie last. The chairman, in his report, gave it as his t> i tin ion that the worst was over, and that hetler times fur the company were to lie expected. The. expenses during the year fell hy 31 peri cent, and the utfuost care was being exercised in this cumipction. One of the preference shareholders had given notice to move that the company go into voluntary liquidation, hut he had since withdrawn the motion. The feeling of directors was that the company should carry on. and this was confirmed hy letters from various ordinary ami preference shareholders, as well as by those present at the meeting. The balance-sheet and the report were duly adopted. The three retiring directors. Messrs. Angus Khilayson. Maurice Harding and .Tames MeLeod. were re-elected, and the auditors, Messrs. Pinker and Uoyd. were also re-elected. a motion to reduce their fees meeting with little support. The manager replied to various queries lom-eriiing the company's affairs, and the chairman "nve fiill details of the company's working, as w"ll as contrasting different items in the balance-sheet with those of the previous- year. A hearty vote of thanks was passed to the staff, which was duly acknowledged by the manager Mr A Holmes. Votes were also passed to the directors, which were suitably acknowledged. At a subsequent meeting of the hoard Mr. Maurice Harding was re-elected eliairmati for the crn-nt twelve months. a
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Bibliographic details
Auckland Star, Volume LIV, Issue 219, 13 September 1923, Page 8
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318THE WORST OVER. Auckland Star, Volume LIV, Issue 219, 13 September 1923, Page 8
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