MOSGIEL CO-OPERATIVE SOCIETY.

Otago Daily Times, Issue 18800, 1 March 1923, Page 11

MOSGIEL CO-OPERATIVE SOCIETY.

The third half-yearly meeting of the memheld , of the Moajpel Industrial .Co-operative Society was not well attended, although, it is in the best interests o£ the society that members should take a lively interest in their own enterprise. Mr Pilling, the president for the past six months, occupied the chair. In moving tho adoption of the report and balance sheet, ho congratulated the society on the satisfactory condition of its business, and on its improvement on previous reports. The turnover amounted to £725. Considering tho small capital of tho society (£1231) this was very encouraging and reflected credit upon tho manager and his staff, who were evidently alive to, the welfare of tho business. The gross profits were £904 lls—about 1 per cent. of tho sales, which revealed the fact that the members enjoyed the benefit of cheap supplies, even if they did not receive a dividend. The usual 5 per cent, dividend was paid on the capital and the balance of £73 placed to the reservo fund, which now stood at £lO5 16s During January about £1C0? of the out* standing accounts had been received, apd the whole of the liabilities, with one exception, had been wiped off. The motion was seconded by Mr Barclay and carried unanimously. Messrs M'Lennan, Hicks, and Pilling (the retiring members) were re-elected, and the vacancy caused by the resignation of Mr Hall, who is leaving for the Home Country, was filled by the appointment of Mr Barclay. For the corning six months, Mr M'Lennan was elected chairman and Mr Haigb treasurer, and the appointment of a secretary was left in the hands of the committee.

The meeting closed with hearty votes of thanks, carried by acclamation, to the committee and staff.