COMMERCIAL

Press, Volume LXXIX, Issue 24075, 11 October 1943, Page 6

COMMERCIAL

N.Z. FARMERS’ COOP. ASSOCIATION

ANNUAL MEETING HELD The annual meeting of shareholders of the New Zealand Fanners’ Co-operative Association of Canterbury, Ltd., was hem on Saturday. The vice-chairman (Mr F. E Jones) presided. .. . . The following directors, who retired by rotation, were ■ re-elected: —Messrs C. P Agar, J W Black, T. A. McKellar, G. W. R Osborne, and J. Paton. Mr Agar was re-elected chairman, and Mr F. E. Jones was re-elected vice-chairman. The chairman’s address made reference to the fann labour problem, and said that many cases were known of clients who had had the utmost difficulty in maintaining production. Army help was greatly appreciated, but it covered only the harvest period and gave no permanent relief. Mr Agar emphasised the urgent necessity for a review of manpower, and particularly its effect on production. The directors, after giving consideration to the matter, proposed to bring before the various classes of shareholders plans for the payment of dividends, as follows: 4J per cent, on first preference shares, 4 per cent cumulative on “A” and “B” preference shares, and up to 4 per cent, on ordinary shares, with any additional. dividend on all classes of shares at the same, added rate per cent. The report was adopted.