FARMERS’ CO-OPERATIVE CO.

Bay of Plenty Times, Volume LIV, Issue 9026, 4 November 1925, Page 5

FARMERS’ CO-OPERATIVE CO.

NET PROFIT OF '£55,508. At the annual meeting *f the Farmer’s Co-operative Auctioneering C 0.., Ltd., on Wednesday, the acting chairman, Mr Joseph Barugh, congratulated the shareholders upon a successful year. He stated that the balance-sheet revealed a most healthy, sound position after the general depressions recently experienced, and the directors were able to declare a dividend of 5 per cent on the ordinary share capital, making eight per cent, for the year. The uejt profit for eighteen months amounted to £55,508. In seconding the adoption of the report, Mr R. Fisher said the company was a co-operative concern and wanted the support not only of the shareholders, but of the whole community. The company was to be congratulated on the excellent balance-sheet produced. He suggested that more modern business methods and salesmanship should ho employed, and lie appealed for Hie loyalty of all shareholders. After several others had spoken in congratulatory terms, the report and balance-sheet were adapted. Messrs. Joseph Barugh and E. M. Edkins wore re-elected directors, and Messrs TL W. Armstrong and 11. P. Hazard, wore reappointed auditors at £-f-50 per annum. The meeting closed with apppreciative reference to the secretary. Air A. C. Bushel!, the manager. Air AV. H. Hume, ami the staff.