COMBINED SELLING

Evening Post, Volume CIX, Issue 118, 22 May 1925, Page 4

COMBINED SELLING

PRODUCERS; ASSOCIATION YEAR.

Tlie directors-'of. the New Zealand Producers' Co-operative .Marketing Association, Ltd., in their fifth annual report and hiilitiice-sheet for (lie year ending 30th April, 1925. congratulate shareholders on results obtained for the season 1923-24, which shows a steady increase in the voluniii o£ business ns "against the previous season, 1922-23. The quantity of produce handled'during the past season amounts to approximately four per cent, of the total quantity of" Ater exported from New Zealand, and^ten per cent, of the cheese. This constitutes a fresh record for the association, and places it in the position of bdug (-lie largest individual unit in the sale and distribution of New Zealand butler and cheese. Although the present balancesheet only covers a calendar period of ten months, it includes the whole business transacted for the full season. After all expenses had been met, and the sura of £250 had been written off preliminary expenses, it left £3974 9s 6d available. for distribution to the shareholders. . The.. directors decided that after paying a dividend of 5 per cent. on all paid up capital, absorbing the sum of- £206 17s 6d, that the balance be rebated to the shareholders in accordance with the amount of. business transacted with the association, such rebate to be in the form of a credit agaiust each such shareholder's unpaid capital. This has meant that a considerable number of shareholders now have all their shares fully paid out.of profits, and have receiv. Ed substantial amounts in cash in addition. This year's rebate has amounted to half per cent, of the commission, making the net charge two per cent., instead of the usual two and a-half. The amouut of produce handled during the season now under review was 75,164 boxes of butter, and 93,490 crates of cheese, which realised £1,219,039 4s 10d, showing an increase over the previous season of £194,997 2s Id, which must be considered satisfactory. It is confidently expected that the present season's operations will show a corresponding increase. The prices returned to consignors during the past season were quite satisfactory, and in many cases more than held their owii with our competitors. The retiring directors are Messrs". E. Harding (Hawkes Bay), J.- E. ThaAer (Canterbury), and A. H. Jones (Southland), who are- eligible for re-election. | As no other nominations have been received, they will be duly declared elected at the annual meeting, to be held in Dunedin. The shareholders, mainly co-operative companies, number 95. Produce handled since the formation is as follows :— 1920-21—92,325 crates cheese,' £751,884 9s 9d. 1921-22—86,314 Taoxes butter, and 92,327 crates'cheese, £849,696 8s lOd. 1922-23—98,001 boxes butter and 80,266 crates cheese, £1,024.042 2s 9d. 1923-24—75.154 boxes butter and 93,490 crates cheese, £1,219,039 4s lOd.