FARMERS’ CO=OP. SOCIETY

Hawera Star, Volume LIV, 27 June 1935, Page 6

FARMERS’ CO=OP. SOCIETY

SHAREHOLDERS’ ANNUAL MEETING. Shareholders of the Farmers’ Cooperative Organisation Society of New Zealand, Ltd., are reminded of the 2ist annual general meeting of the society, to be held at the Foresters’ Hall, Nelson Street, Hawera, on Saturday next, commencing at 10.30 a.m. In the society’s reports, already published in tho “Hawera Star,” the directors disclose a successful expansion of business, and whilst commercial conditions generally call for the greatest caution, they sec no reason why further progress may not be made during the ensuing year. The profit, before making provision for depreciation and income tax, is £22,095 15s 9d. Of this sum £5477 16s 9d has been set aside for income tax and £4045 14s 4d lias been written off plant and properties, leaving a nett balance of £12,572 4s 8d to be added to the profit and loss appropriation account, which, together with the amount carried forward from last year and a credit from forfeited shares, makes a balance of £16,632 4s 6d to be dealt with. The directors recosmmend a dividend of 4 per cent, absorbing £8404 2s 9d, the addition of £3OOO to the general reserve account, the transfer of £SOO to the insurance reserve account and the carrying forward of £472S Is 9d.

A ballot is necessitated in the election of directors by reason of the fact that all the retiring directors have been nominated for re-election, with the additional nomination of three o'flier qualified and eligible persons. * Shareholders are invited to put forward any suggestions for the welfare of the society. Light luncheon will be served at an interval during the meeting, when there will be an opportunity for a general conversazione.