RUNANGA NOTES

Greymouth Evening Star, 28 September 1943, Page 6

RUNANGA NOTES

[OUR OWN CORRESPONDENT.] Mr F .Oakiey presided at the halfyearly meet inof the Runanga Cooperative Society'last evening. There was a good attendance. The committee’s report and the balance-sheet disclosed that the sales for the half-year were lowei* by £872 than the previous half-year, but, notwithstanding, the total sales foi the year at £69.508 were a record. Grocery sales at £21,122 showed a decline of £668, boot department sales of £1,843, an increase of £270, drapery department sales of £7,102 were a decline of £97, bakery department sales of £3,446 showed a decline of £65, and carting department turnover at-., £BOl was an increase of £227. Share capital, stands at £16,600, an increase of £1,745. The present membership is 630, an increase of ten Overhead expenses were 134 per cent,, an increase of one-quarter per cent. Outstanding accounts show a decline of £594. After providing for interest and depreciation, £3,414 i available for distribution to members at the rate of 2/2 in the pound on purchases. The report stated that a new bakehouse and shop had been opened during the half-year, ana this included all modern appliances for the baking of bread and sma goods. A new branch store at Dunollie has been erected and should b< a welcome convenience for Dunollk members. The committee recorded with regret the death of their auditor, Mr E. Warnes, who had served the Society for 30 years. Mr P. C. Heaphy has been appointed to fill the vacancy created. The president, three committeemen, and one trustee retired and were all re-elected, as follow: President, Mr Oakley; committeemen, .Messrs C. Kennedy, J. Deardon ana W. Richmond, and one trustee, r. R. J. Bowman.

The chairman reported that £3,880 had been spent on the new bakehouse, and would finally cos over £4,000; the new branch shop Pad cost £1537. Mr Kelly pointed out the low re turn received on the investments of the Society, in comparison with the interest paid to members on capital invested with the Society. Mr S. Morris contended that the Society should not, as a matter of policy, encourage the investment o. surplus funds in shares in other concerns. Surplus funds should be re-invested in the Society to provide additional social services to members. This method would return far greater dividends to members than outside investments.

Mr Kelly said the scope of the Society need not be restricted to grocery and drapery, but could extend to such necessities as meat, bacon, etc. The chairman said that when conditions returned to normal, the present committee had in mind the rebuilding of the main store on the site between the present building ond the bakehouse. This would require large sums of money and would no doubt mean reducing the investments of the Society. Replying to a question about sup- | plies, the chairman said the Society | was not receiving a fair share of the supplies available. The committee;, and particularly the Manager (Mr T. Bowes) had done everything possible to ensure a fair distribution. They had written to Ministers, to Department heads, and interviewed visiting Ministers and gone to endless trouble to remedy matters, but little more than promises had been received. In practice it was found that when certain goods in short supply were made available, the Co-op. was either left out altogetner, or received a much smaller allotment than other traders Dried fruit was a case in point, but the same applied to apples eggs eranges, sweets, tobacco, pea’s, and countless other items. The Manager spoke on. his en~ to secure a more equitable distribution, s.nd said he was not retaxing, but was continually placing Society s position before the authorities.