FARMERS’ CO-OP.

Hawera Star, Volume XLVI, 18 June 1926, Page 4

FARMERS’ CO-OP.

ANNUAL REPORT. The annual report of the New Zealand Farmers’ Co-operative Organisation .Society for the year ending March 31, .1926, is given below: — In presenting the twelfth annual report and statement of accounts for year ended March 31, 192 G, your directors regret that, notwithstanding a trading profit of £9739 8s lid on the year’s operations, they consider it necessary, to provide for depreciation on land, buildings and saleyards, plant, motor-cars, general stocks and accessories, and also to make provision for probable bad and doubtful debts on current accounts to a substantial extent, details of which will be fully explained at the annual meeting. It will be observed that the trading results have been good, but as the process of deflation of land values, with its attendant losses, is still being felt, your directors have deemed it advisable to make provision for this as shown in the profit and loss account. The landed properties plant, stocks and accessories, can now be' considered good assets, and the prospects of the society are very hopeful. Directors. —The retiring directors are Messrs J. >S. Connett, C. E. Honcyfield, Wm. Jones, Edward Marfell and A. E. Symcs, who have been nominated for re-election. As no further nominations for the office of directors have been received, the above nominees are duly elected, and a poll is therefore unnecessary. Auditors.—ln accordance with the articles of the society, Messrs Burdekin, Walklcv and Cameron retire, but again offer their services under the firm name of Messrs Walkley and Cameron.