HELPING THE FARMER.

New Zealand Herald, Volume LIX, Issue 18216, 9 October 1922, Page 6

HELPING THE FARMER.

«e> CO-OPERATIVE TRADING. JUSTIFICATION OF LOSSES. [Bt TKLKQBAPH.—OWN CORRESPONDENT.) CHRISTCHUBCH. Saturday. Although the New Zealand Farmer** Co-operative Association of Canterbury, Ltd., has made a loss of over £122,000 era ite trading operations for the year and can pay no dividend on ordinary shares, the annual meeting to-day was gay, rather than gloomy. There was a certain amount of criticism of the policy followed by th» directors, but it was not seriously pursued. One critic, who grew tedious t was "counted out," and the meeting carried on in high spirits until one enthusiastic shareholder called for three cheers for the directors and the officers. The meeting, heartily complied. ■ '*'" The directors' report and statement of accounts twere adopted without dissent and a vote of thanks to the directorate and officials was tarried by acclamation. In the course of the meeting a number erf shareholders spoke in .high praise- of the service, which the association had given to the farmers, by offering them liberal help throughout the dump and ti>6 succeeding financial stringency. Several declared the association*had fully justified ita existence in the past year, and that the payment of a dividend was a secondary matter. The manager said the association had made losses by giving men chances, but these men would be able to pay 20s in the £ in a couple of years' time.