CANTERBURY FARMERS' COOPERATIVE ASSOCIATION

Dominion, Volume 11, Issue 1, 26 September 1917, Page 8

CANTERBURY FARMERS' COOPERATIVE ASSOCIATION

The Canterbury- Farmprs' Co-operalive Associalion propose to allocate their profits for the year as follows:—The new proposals are that thn ordinary and preference shareholders shall receive 7 per cent, and 6 per cent, dividends respectively, free of income tax. A honus of 3 per cent, on purchases of Reneral merchandise, and a rebate of 20 per cent., oil commission earnings will be paid, net. items as usual exceptcd. A special war bonus to the staff is also provided for on a graduated basis, those whose carninßS wore £156 and under 5 per cent., over this amount aud up to £300, 3 per cent... and 2S per cent, to those above £300. The reserve fund is brought up to £150,000 by the tiddit.ion of £2752 10s. Ten per cent, depreciation ofl plant represents £3041 17a., and a further sum of £1500 is to be written ofl the association's motor vehicles. Thn sum of £1000 will he allocated to the stall superannuation fund, and £2500 to the special fund with respect to members of the stall at the war. and the balance, about £13.226, will be carried forward to help meet, the very heavy income (.β-x which the company will be called upon to pay this year.