Untitled

New Zealand Mail, Issue 1290, 19 November 1896, Page 39

The annual report of the United Farmers’ Co-operative Association shows a net profit of £3131. In addition to this, a sum of £1153 Ss 3d has been placed to reserve account. Instead of carrying forward any portion of the amalgamation and liquidation expenses and losses, the directors propose writing them off out of this year’s profits. They recommend reducing the usual dividend on capital to G per cent., and disposing of tho balanco as follows : —3O per cent, of tho divisible profits as a bonus on shareholders’ purchases and employers’ salaries ; directors’ honoraria, £25 each ; auditor’s fee, £25 and expenses, and carry the balance forward. Mr John Kerr has purchased the Nelson Evening Star.