A HUGE TURNOVER.

Stratford Evening Post, Volume XXXI, Issue 28, 18 September 1911, Page 5

A HUGE TURNOVER.

CANTERBURY FARMERS’ CO-OP. (Per Press Association.) Christchurch, September 3 7. At an extraordinary general meeting of the New Zealand Farmers’ Cooperative Association of Canterbury on Saturday it was decided*by 121 tp . 31, “That the capital of the Association be increased to £1,000,000 by the ir,). tion of 10,000 new ordinary -hares at £5 each.” At the annual meeting held subsequently,, the chairman, in moving the adoption of the annual report and balance-sheet, said that the aggregate turnover of all operations for the year totalled the colossal sum of : £2,961,688, being an increase for the twelve months of £510,754. As, far as the financial position of tho Association was concerned, he thought that it would bo conceded that the finances were now upon a thoroughly sound basis. Still, as he had explained in his remarks with reference to the creation of additional capital, it was necessary with a growing business such as the association’s to sep that the (Capital account moved ahead consistent with tho business as a whole. ‘ ‘ " The report -and balance-sheet were unanimously adopted.