WAIRARAPA FARMERS' ASSOCIATION

Pahiatua Herald, Volume XIX, Issue 4946, 22 September 1914, Page 4

WAIRARAPA FARMERS' ASSOCIATION

A VERY SATISFACTORY YEAR. twenty-third annual report of the V mrarapa Farmers’ Co-operative Association. Ltd. (one of the biggest branches of which is in Pahiatua), states despite the strike affecting tvo months trade, the result of the past year s transactions is more satisfactory than the previous vear \f. ter having made ample provision for bad and doubtful debts, depreciation f stock and plant, and payment of auditors fees., the net profit for the 88 lld - T “ this has to he added £6527 8s 5d carried forward from last year's profit and hss account, making the total available for division £20.162 17s 4d The amount to credit of profit and loss account is quite sufficient to pav the usual dividend of 9 per cent. tal and 3 per cent, bonus on shared P«f phases - but in view of the unsettled state of business caused bv the war. the directors recommend the distribution as follows :~Payment of dividend on paid-up capital 6 per "mt.. payment of bonus to shareholder,' on their purchases (commission goods exempted) 2} per cent hcadT nt f ° f , bo s us to managers and ™ ? i de P«rtments as have contributed a proportionate share of profit, payment of bonus to employees who have boon throe years in theemtlie!r° f th >° Association 2J or cent on then year s salary. After paving the Government income tax and thelionotarnim to directors, there will remain a sum of £10.8.50 to he carried forward to next year’s profit and loss aeooum. The directors, after careful consideration, have decide to advise • VOM to defer paying dividend o n padup capital and bonus to shareholders on their purchases for the present tvhiel, they will pay as soon asTheV tlimk it prudent to do so. The adoption of such a course will make onr financial position extra strong The directors are pleased to state that all T ] n a S™ l state of repair. The stocks are new. well bought, of good value, and suitable for our trade. The staff U capable and efficient The retiring dirdetot* are Messrs IT. O. Williams A. \\. Cave and D. CWlherg, who offer themselves for re-election.