NORTH CANTERBURY CO-OPERATIVE STOKES.

Otago Daily Times, Issue 13387, 13 September 1905, Page 4

NORTH CANTERBURY CO-OPERATIVE STOKES.

OHRISTCHUUOH, September 12. The fifteenth annual meeting of the North Canterbury Co-operativo Stores Company was held at Rangiora this afternoon. The report stated that the net profits for the year were £6235 17s Sd, which, with £ISO ISs 2d-brought forward, left f£S7G 13s lOtl to be dealt with, whicli the directors proposed fo allocate nu' fellows:—To pay a dividend of 7 per cent, and a bonus of 1 per cent, on tho paid-up capital; a bonus of 4 per cent, on shareholders' purchases, and a bomi3 of 4 per cent, as wages and talaries; to carry £1101 lo the reserve account, which would then stand at £8000; and to placc £500 1o a- snccial reserve fund for the extinction of the mortgage. The balance sheet allowed flie capital of £-23,000 to be fully paid up. The liabilities were £78,277 17s 3d, and the assets £84,851 13s 3d. The working expenses were £10,920 Is'3d, and the profits £17,502. The report and balance sheet were adopted. At an extraordinary meeting held afterwards the directors were empowered to increasß the capital to £50,000,