N.Z. FARMERS' CO-OPERATIVE ASSOCIATION.

Lyttelton Times, Volume CXVII, Issue 17079, 31 January 1916, Page 10

N.Z. FARMERS' CO-OPERATIVE ASSOCIATION.

EXTEXSTON OF BUSINESS. An rxlrnorrlinnry general mooting of shareholders of the New Zealand Farmers' Co-opera tivo Association vvas held on Saturday, Mr .T. Pnmictt, ohainnai of directors, presiding ovoc an attendance of about forty-five shareholders. The meeting Wfts convened to consider proposed' new articles of association and alterations to the memorandum of association extending the objects of the organisation. The chairman said that the principal object of the proposal to alter the memorandum •of association v,as to enable the association to acquire an interest by share in other businesses, and to enter into other branches of business should it be thought advisable to do .so. The power to acquire shares was particularly desired', to enable the association to acquire an interest in the Farmers' Co-operative Wholesale Federation, Ltd. The alterations in the memorandum and articles of association would hare to go before the Supreme Court tfor coiiiiiriniation. so that shareholders would be safeguarded. Shareholders had written in, sending proxies, warmly approving of the proposals. He moved the alteration of the. objects contained in the memorandum of association, and that the Supreme Court should be asked to confirm the alterations. Air A. Chamberlain seconded the motion.

Mr Wright suggested that the meeting should be postponed' till after the harvest; to insure a better attendance of members.

The.chairman said that a full opportunity had been given to all members to discuss the matters under consideration, by circular and public advertisement There was never a personal attendance of anything more than a very small proportion of ••harehokh rs at the company's general meetings. A shareholder suggested that the position in regard to the Fanners' "Wholesale Federation might be made el ear. Alf E. W. Welph (general manager) said that the Federation was an organisation affiliating the Farmers' Cooperative Associations throughout New Zealand. Tt "as felt that by joining forces the associations could m.ihc f'ir l,ctte,r terms for thei- ireports than rhey could make singly, am, there.were also opporluivties of .idrniitugenus combined action in other directions, A shareholder, speaking in favour of +he motion, said he hoped it was not proposed to take advantage of the power to amalgamate with any private firm. The chairtmr. said the jiower was wanted to enable the >.ssociation to acquire businesses They might want to take over th« business of a storekeeper, or something of that sort. Tn reoly to further questions, the chairman said the" alterations did not involve an increase of capital. The motion was carried unanimously, amidst applause. The. adoption of proposed new articles of association was then, moved. Mr Relph explained that all that was involved was a revision of the articles of iissoointirm, on the lines of amendments made from time to time, the printing of the articles as brought up to date, and one or two minor alterations in the rules, principally aimed at making it easier for shareholders tchav> a special meeting-con-vened. Another alteration increased the allowance annually authorised for directors' fees from £SOO to £IOOO, to allow of the possible appointment of additional directors. The motion was seconded by. Mr Chnmbirhin and carried unanimously. The chairman stated' that a confirmatory mooting would be held on February 19.