FARMERS' CO-OPERATIVE.
REDUCTION OF CAPITAL. . The accounts of tho New Zealand Farmers' Co-operativesDjsfcributing Company, for the year ended September 30, show that the gross profit on trading amounted to £26,142, compared with £25.001 in the previous year. The net profit was £2525, as against £5075. The directors propose to reduce tho caoital of the company by writing down the nominal value of th» A shares from £1 to 14s, and the B shares from £5 to £3 10s each, which would enable the company to cancel the balance of the accumulated losses; to create a reserve of £3OOO for bad and doubtful accounts and to provide £4OOO to cover depredation on certain properties, which have declined to that extent in value since they, were pur- , chased.
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New Zealand Herald, Volume LXIII, Issue 19502, 4 December 1926, Page 9
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126FARMERS' CO-OPERATIVE. New Zealand Herald, Volume LXIII, Issue 19502, 4 December 1926, Page 9
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