A Prosperous Comyany.

Dominion, Volume 1, Issue 3, 28 September 1907, Page 7

A Prosperous Comyany.

WAIRARAPA FARMERS'. .- By Tolegraph.-Press Association. ■ Masterton, September 27. The annual meeting of shareholders of the Wairarapa Farmers' Co-opera-tive Association, Limited, was held today, Mr. M.\ Caselberg, (managing diroctor). presiding. ,-.- >■- Tho-Chairman, in moving the adoption of' the repor tand.,balance-sheet, said that- the business showed: a continuous growth of a sound and safe character. Tho result of tho year's transactions would enable the Association to pay the usual dividends' and hunusus, to carry £3000 to reservo (which will then stand at £28,102 10s. Bd.), and to carry forward £5000 to next year's profit and loss account. The financial position was as follows: paid'- up '-capital;' '•.'£7O,SOO j calls paid in advance, £1820; present reserve £25,103; amount to be carried to reserve, £3000; amount to be carried forward after providing for dividends, etc., £5000, making the total capital - of reserve £105,722; add. uncalled capital, £41,286, total of £147,008. Total assets, £201,212; liabilities to creditors, £84,376';- showing a surplus of assets over liabilities of £116,836.. ...,-.,.

The annual report of tho directors stated, inter alia, that.'after having made duo-provision for bad and doubtful debts and depreciation of stock and plant, and after.haying paid the auditor's fees,': thy. not. profit on the. year's transactions'was £14,113 13s. 9d.,t0 which has to be added '£5000, carried forward from last year's profit and loss account, making the total available for division £10,113 13s. 9d.

The directors recommended tho distribution as follows':—Payment of dividend on paid up capital, six per cent.; payment of bonus on paid up capital, threo per cent; payment of bonus to shareholders on .their purchase,' threo per-cent.; payment-of-bonus to-em-ployees .on : - their salaries,! threo per cent.; and a bonus tp managers and to heads of. departments which have clone a profitable trade during tho yoar.- -.-■• ■' • Tho report, and balance-sheet-was adopted. - •-..:• • ■-, The retiring directors, Messrs. C. B. Pharazyn, D. J. Nathan, and A. Caselborg, were ro-electc'd. Messrs. R. T. Badham and'W. B. Chonnels were re-elected Auditors. ...

(FROM OUH OWN COMVESPONDENT.) , ■ :: IV!asterton, September 27. _ -At tho annual meeting, of .the Wairarapa Fanners' Co-operativo- Association .to-day, tho chairman of directors (Mr! M. Caselberg), in moving tho adoption of tho annual report and balance-sheet, congratulated tho shareholders on their exceedingly sound.financial position, and stated that tho book values of the freehold properties of tho concern liad not been increased during the last twenty years. If they were written - down at-, present, valuations, tho chairman considered they would be worth at least fifty per cent, moro than tho book values. Tile chairman also said that the Kopuar.iniga Butter Factory, which lias been sol dtn the Dairy Union, showed a loss of £1500 since its opening, but ho explained thiit.it was established years >igo, when butter-making was an uniirolitahle industry, and tho object-.of the establishment had been achieved.