Page 18 Advertisements Column 1

New Zealand Herald, Volume LXVII, Issue 20570, 22 May 1930, Page 18

"H'T mk 1 1 v'.;r.■;v< W No. I: Tho birthplace of Laidlaw Leeds. This building, which still stands in Fort Street, was recently occupied by the Dunlop Rubber Co. No. 2—The premises in Commerce Street to which Laidlaw Leeds moved ofter four months' trading. m m ft ' "; 1! M iWm m EI^HH-l I I I , A 1 ■ I * ■ k mn> aw?® 3 £ 1.400 i f?jy :^/C ; >- ti fiiii si^Bs mm m No. 3—Lai d 1 a w Leeds, in its second year, occupied this building. No. 4—Where the Farmers' Union Trading Association started business in Albert Street. ipm ... 'V.'vv -■V". . • , iii jCjra 1 "ffg, *4^fe K years ago. at the age of 23, Robert A. | Laidlaw founded a mail order business which was I to become known far and wide among the farming JL community as Laidlaw Leeds. Photograph numbered 1 marks the site of the little store where he commenced business, and which still stands, in Fort Street. So effectively did his unique methods of trading capture the public imagination that in the short space of four months a move had to be made to more commodious premises in Commerce Street, (photograph No. 2). The stress and throes of the beginning of any venture impress on one's mind the smallest details, otherwise unimportant, and in this connection it is interesting to record that the first order received by mail was for a roll of Wire Netting, to the value of 7/8, but that was only the forerunner of sales which, for the first year, were to amount to close on £25,000. The continued rapid growth of the business made another move necessary, to the one half of the Fort Street building as shown in photograph No. 3, and shortly afterwards the second half of the building had to be acquired, to cope with the increasing sales. By the year 1914, only five years after the company's inception, the ever-growing urgency for more and more space had become so acute that Mr. Laidlaw, finishing for ever with the leasing of premises, took his courage in both hands and built his own large six-storey warehouse at the corner of Hobson and Wyndham Streets, being No. 6 in the series of photographs recording the physical expansion of the firm of Laidlaw Leeds. By 1918, the annual sales had risen from the modest figure of £25,000 to over £320,000. FARMERS' TRADING'COMPANY. With this short resume of Laidlaw Leeds, let us turn back to 1910, when a small body of Farmers' Union members formed a Co-operative Society under the name of "The Farmers' Union. Indenting and Trading Association," the business being carried on in the Albert Street premises shown in illustration No. 4. This modest organisation grew steadily in membership and volume until, in 191.3, it had nearly 900 members, and was doing a substantial business. In 1916 it was decided in the interests of members, and in order to prepare for further expansion, to convert the Trading Association into a Limited Liability Company. This was done, and the new business was known as "The Farmers' Union Trading Company (Auckland), Limited." Soon the growth of trade compelled the new company to look for larger premises, and these were No. s—The Fort Street premises of The Farmers' Union Trading Company. (This building is now occupied by th<i Electrical Construction Co. of N.Z.) ■ Leeds' six-storey ware l 1914, at the corner of and Wyndham Street. secured in Fort Street (see photograph No. 5). Business grew rapidly until, in 1918, the Farmers' Union Company's sales had reached the sum of £230,000. It was at this time the Company's directors approached Mr. Laidlaw and entered into negotiations for the amalgamation of the two businesses under the style of "The Farmers Trading Company, Limited." The result has proved that co-operation is better than competition, and, with the exception of the slump period following 1921, the. Company has shown marvellous growth. . Shareholders have increased from 3027 to 12,400, and sales direct to the consumer for the year ending March 31, 1930, amounted to £1,407,950 —an increase of £106,074 above the previous year. During this period, 46 Branches have been opened in country districts, and five factories have been successfully operated to supply the Company's requirements, while the Central Warehouse in Auckland has been repeatedly increased until it now has over Six Acre's of floor space, and is the largest building in the Dominion. The staff now number 854, and the merchandise sales of the Company, so far as we have been able to ascertain, are higher than those of any other merchandising concern in the Dominion. Last year a large Parking Area, to accommodate 87 cars, was opened in Wyndham Street. Already this has proved to be too small, and an extension has been made that will increase the accommodation to 1 60 cars. The Company's Prices and Guarantee of "Absolute Satisfaction or Money Back" have merited the confidence of both shareholders and the public generally to such an extent that during the past year, when a new issue of Shares was offered, they were quickly over-subscribed. In fact, the issue was so successful that the whole of the Company's outstanding Debentures, amounting to £234,000, were completely paid off during the past twelve months, so that the Company is to-day in an exceedingly strong financial position. We have now reached our 21st Birthday, and enter upon our majority with the brightest of prospects. But the Directors and Management have no wish to take to themselves the sole credit for what has been accomplished. They gratefully acknowledge their debt of gratitude to their splendid body of farmer and city shareholders, and to all their customers, for the wonderful trading support given to the Company during these many years. The year ended March 31, 1930, was one of the most successful The Farmers' Trad- ' ing Company has had. The Chairman of the Board of Directors, in his report which will shortly be issued to our shareholders, says: "The net profit for the year, after allowing for depreciation, and taking stock on a most conservative basis, is £60,422 as against £49,334 last year, and this profit added to last year's carry forward, gives us £IOO,OI I to be dealt with. After paying 7on "A" and "B" Preference Shares, and 10%, which the Directors now recommend, on Ordinary Shares, providing for Income Tax, and writing £2500 to depreciation off buildings, there will remain some £45,000 to be carried forward. You will notice with pleasure that the Debentures appearing in our last Balance Sheet amounting to £234,387 have been completely paid off during the year. Although £84,600 was not due until 1935, we felt that as the new issue of shares offered was taken up so promptly by our. shareholders - and the public, that the time was opportune to pay off even these Debentures which still had a currency of five years." The Farmers' Trading Company's central warehouse today—the largest department store in New Zealand. v . m g|| §) lift nm *■ * Pi Sl# MSB PSI M m WSJS iMTTIrXJSI TKtAPIAO c.« t7 ERS' TRADING C<? XJF3PJ jwwm mmm Ms ill St W HI ASK m