FARMERS' DISTRIBUTING COMPANY.

Otago Witness, Issue 3327, 19 December 1917, Page 11

FARMERS' DISTRIBUTING COMPANY.

The annual meeting of the Now Zealand Farmers' Co-operative Distributing Company, held in Wellington on Thursday, was presided over by Sir James Wilson, who, in moving the adoption of the annual report and balanco sheet, congratulated tho company on its forward movement. Thero was a net profit of £3961, and the usual dividend of 7£ per cent, had been paid. Something like £2OOO (nearly 50 per cent, of the profits) would have 'to be Raid out in

taxation to go towards 'the cost of the war. The reserve fund had been built up to £2211. The total subscribed capital was £83,000, an increase of £67,000, and six times the original cSpital. As tho business grow, tho need for capital became greater, and he hoped they would not stay their hands till they had £250,000. The wool, business had greatly increased. In the first month of this season the sales were 5000 bales, tho highest but one of all Wellington brokers, although they had been only three years in the wool business. The business _ in hides, skins, and 'tallow also had considerably increased. The motion was carried. Messrs Eagle, M'llroy, and Richards were elected on the directorate.