CO-OPERATION AND THE FARMER'

Dominion, Volume 9, Issue 2579, 29 September 1915, Page 16

CO-OPERATION AND THE FARMER'

REMARKABLE DEVELOPMENT IN • NEW ZEALAND. • The proposed formation of a wholesalo co-operative federation, must have convinced even the casual newspaper reader that co-operation is making rapid headway among our farmers. For many years thousands of agriculturalists' and pastoralists have enjoyed the advantage of concerted action in purchasing supplies and marketing produce. However, through, this projected combination of co-operative bodies it . is heped to cffect many economies, to exercise 'more vigilant ; control' of wool, butter, cheese and grain ,ih the Home markets, and to secure for the farmer the fullest possible return for his capital* and labour. • ■'

In tho creation of this larger union, a most active part has been played by tho New Zealand Farmers' Co-operative Association of Canterbury, Ltd., a prosperous and. progressive concern which is itself a most impressive witness to tlio benefits of co-operation. This company was established thirty-four years agb, witli 800 shareholders and a subscribed capital of £17,555. To what vast proportions its resources and rami-' fications 'have grown may be learned from the important statement on the leader page of this ; issue. ■, 'With a head office and warehouse at Casliel Street, Christchurch, branches in tho ; leading towns -of Canterbury, and agcncics throughout New Zealand and; Australia, the Now Zealand Farmers' Co-operative Association of Canterbury," Ltd., is doing invaluable work in facilitating tho transmission of the farmers' produce to market and in supplying* tho personal and household needs of its. shareholders on the most advantageous, terms.. It also conducts with success ,tho business of auctioneers, land agents, up-to-date registers being kept of properties in all parts of the Dominion.

An idea of.the substantial nature of tho transactions of this company can be gathered from tho figures given in tho statement already referred to. It will! be seen that the aggregate turn--over for tho year ending July 31, 1915, amounted ito tlio huge sum of £3,257,795 —an achievement which, in view of tlio commercial dislocations of the past twelve months, tho company' is justifiably proud of. ' '. 'The authorised capital of the New Zealand Fanners' Co-operative Association of Canterbury, Ltd., is £l; 250,000, half of .which has been subscribed, with £242,199 still to bo called up. Tho reserve fund is credited with £131,743. This large provision speaks well for tho caution and foresight with which this concern is governed. In addition 'to this reserve, the association has consistently. paid satisfactory dividends and refunded liberal bonuses and rebates, no less than £293,066 having bden allocated for these purposes during the past ten'years. _ At the annual meeting of tho New 'Zealand Farmers' Co-operative Association held last Saturday in Christcliurch, the operations of the twelve months ending July 31 wero reviewed, and nlthough this period covered tlio first year- of tho war, it showed profits which wero practically as large as 1913 7 14, find which would have been actually "greater had not a now cash discount system been introduced. He net profits amounted to £G2,832, representing over 15 per. cent. °of the paid-up capital. In face of this experience, there is every reason for taking an optimistic view of the association's fn-' ture, and for believing that its prosperity will'grow during the coming year despite t'hc disturbing effects of the war.

The flooding out of Mr. IL W. Lloyd's jewellery establishment in Lambton Quay last; week, which damaged all his shop stock, has compelled him to dispose of the stock at daraased prices. The sula has now commenced, and tho public are invited to inspect hi» windows for bar-