WAIRARAPA FARMERS' CO-OP.

New Zealand Times, Volume LII, Issue 12264, 9 October 1925, Page 9

WAIRARAPA FARMERS' CO-OP.

SHAREHOLDERS’ MEETING. (Special to '‘Times/*) * MASTERTON, October S. The annual meeting of tlie shareholders of the ‘VVairarapa Farmers’ Co-opera-tive Association was held this afternoon, Mr_J. Caselberg, chairman of directors, presiding. In his address the chairman said the result of the j’ear’s trading, when compared with that of tho previous year,must be accepted as very satisfactory, especially when it was taken into account that tho conditions under which the company was trading for a large portion of the past year were very unsatisfactory. The prospects for fanners at this time last year were particularly bright, but unfortunately the rains in December and onwards caused very great losses to dairy and agricultural farmers, who in many cases had to be considerably assisted to enablo them to carry on. The one class of farmer who enjoyed a prosperous year was the sheepfarmer; otherwise, tho company’s result would not have been so satisfactory. There was no doubt that the wool season of 10*24-25 would pass into history as'one of the most successful ever experienced by the majority of farmers in the Dominion. FINANCES STRONG "The financial position of the association is a strong one, as the following figures show : Assets .£700,380, add uncalled capital and calls unpaid, £18,112; total. £712.492: less liabilities due to creditors £816,708; surplus of assets over liabilities, £395,784. "These figures show that the association has two pounds five shillings for every pound owing, to which must be added the difference between the actual value and the book value of properties, which amount to not less than £70,000.” added Mr Caselberg. "Although they recommend paying a dividend of six per cent., the directors have every hope that it will not be long before the association will be able to pay normal dividends as in the past. FUTURE IS UNCERTAIN #< As regards the future, the general outlook is only fair. The farmers cannot expect to obtain the same price for wool as they did last year. The outlook for lamb and cattle is certainly good. The unprecedented cold and wet has seriously affected lambing percentages, and also dairying and agricultural operations. “On top of the unusual 6eason we hav© the seamen’s strike dragging on, which, even if it is settled shortly, may have far-reaching effects for harm. Consequently it behoves farmers and business people to view the future with every care. It is absolutely necessary for allto assist the‘Government in every way to end the strife and otherwise carry oil/* The balance-sheet and report were adopted. Th© retiring directors, Mr V. E. Donald, Mr A. B. Knight, and Mr H. G. Williams were re-elected. < It was decided that £BSO, plus travelling expenses, b© divided among the directors as their honoraria for the past year.