EXCELLENT SEASON

Auckland Star, Volume LXXII, Issue 212, 8 September 1941, Page 3

EXCELLENT SEASON

FARMERS SATISFIED

XTH. AUCKLAND CO-OPKRATIVE (0.C.) WHANCAREI. this day. "As far as the farming community is concerned we have been fortunate in having had such an excellent season and satisfactory prices for stock and produce," said the chairman of directors, Mr. G. H. Masfen. in his report to the 39th annual tweeting of the North Auckland Partners' Co-operative. Ltd. "There are. of course, uncertainties with regard to the disposal of the surplus over what can be shipped in the limited supply of refrigerated shipping, but I do not think we can do more than hope for a satisfactory solution of this problem." After payment of taxes, about £3750 was left, and from this preference shareholders could be pairl a dividend of 5 per <;ent. less national and social security taxes. About £505 was left to be carried forward. Taxes absorbed over 2/0 in the £ out of profits, providing the reason for inability to pay a dividend on ordinary share capital. The proposal to pay a dividend of 5 per cent on preference shares, less national and social security taxation, was adopted. The retiring directors. Messrs. H. F. Alexander and D. P.owmar, wem re-elected, and at a subsequent meeting Mr. Masfen was re-elected chairman and Mr. F. Holder vice-chair-man.