FARMERS’ AUCTIONEERING CO.

Rangitikei Advocate and Manawatu Argus, Volume XLV, Issue 12019, 24 March 1920, Page 5

FARMERS’ AUCTIONEERING CO.

MOST SUCCESSFUL TEAR. SOME STARTLING|FIGURES. On Saturday, March 27th, the annual meeting of shareholders of the Farmers’ Co-op. Auctioneering 00., Ltd., will be held in Hamilton. The past year has been one of phenomenal increased in every direction. This year the turnover has eclipsed all records, being no less than £3,828,643 thus showing an increase of £679, - 241 over the previous year. The profit and loss account snows that the net profit for ttye 12 months amounted to £41.953 19s lid. During the 13 years the company has been operating £337,805 has been paid to shareholders by way of rebates and dividends, and practically the whole of this sum has been distributed to the farming community in the districts in which the company is operating. The reserve accounts have now reached £57,306 13s 7d, of which £38,000 is invested outside of the business in New Zealand Government War Loan inscribed stock and debentures Spread over the 14,000 square miles of country in which it operates, the company has established 36 saleyards and 10 branches, the head office and stores being situated at. Hamilton. During the past year the subscribed capital has increased by £457,590, the paidup capital by £89,710. and the uncalled capital by £67,440, making a total of each as follows: —Subscribed £450,745, paid up £363,653, uncalled £86,834. The number of shareholders has . reached 4250, while the number of permanent staff engaged is 247. Each year new records have been established as regards the number of stock sales held and volume of business done in this department. In the year under review no less than 791 auction sales were conducted, showing an increase oven the previous year of 158. It is a gratifiyng sign of the healthy interest that the shareholders are taking seeing that candidates have been nominated* (including the two directors who are retiring by rotation) to fill the three vacancies on the Board. The directors retiring by rotation are Messrs Thos. Paterson, of Ngaruawahla, and H J Gill, of Te Puke, both of whom are eligible and offer themselves for re-election. Messrs E H Hammond, of Tamahere, Walter Seavill, of Waingaro, and F. W Walters, of Waitoa, have also been nominated. The company’s new and handsome buildings in Victoria Street, Hamilton, are nearing completion, and it is expected .that they will be occupied early next month.