HARD TIMES
BIG DEFICIT SHOWN
NEW ZEALAND FARMERS'
CO-OP.
(By Telegraph.—Pi n-st Association.)
CHBISTCHUBCH, This Day.
Taeed with a .loss iv the year's accounts of £95,000,'"the Shareholders in the New Zealand Wrmers' Co-opora-tive Associatipn showed intense interest in to-day's annual meeting, over 250 being present. . The meeting was not, open to the Press. \ The report of the chairman, Mr. James Stevenson, said that in the fifty years of the association's history it had never had a more difficult period. Two items mainly reflected the situation, the very large losses the depression had precipitated on some farmers' accounts ,wh,ieh the association had been nursing for the past few years, and the' large. amoun* of interest on this class' of' account which the directorsh had deemed it wise not to take into profit. Otherwise the accounts for tho year would have shown a net profit of £20,000. After keen discussion, a motion to reduce the number of directors from 15 to 9 was defeated by a large majority. . Th« directors' report was adopted*
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Bibliographic details
Evening Post, Volume CXII, Issue 82, 3 October 1931, Page 14
Word Count
171HARD TIMES Evening Post, Volume CXII, Issue 82, 3 October 1931, Page 14
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