A SUCCESSFUL ASSOCIATION.

Hawera & Normanby Star, Volume LXVIII, Issue LXVIII, 12 July 1912, Page 7

A SUCCESSFUL ASSOCIATION.

THE VALUE OF CO-OPERATION

BY TELEGEAPH—PEESS ASSOCIATION

NAPIER, July 12. The Farmers' Co-operative Association made a profit last year of £28,583 12s 7d. The annual meeting decided te pay a dividend of 8 per cent, on the paid up capital, a bonus of 12 per cent, on commissions contributed by shareholders, a "bonus of 2 per cent, on goods purchased by shareholders, a bonus of 5 per cent, on salaries, £1000 is to be added to the reserve fund, and the balance is to be carried forward.

The chairman, Mr R. D. D. MeLean, in congratulating shareholders, mentioned that 21 years ago the Association had 100 members, now it had over 100(1

Mr J. W. Harding was elected chairman of directors.