FINE BALANCE-SHEET

Sun (Auckland), Volume III, Issue 793, 14 October 1929, Page 10

FINE BALANCE-SHEET

FARMERS’ AUCTIONEERING COMPANY APPRECIATION EXPRESSED "I have been a keen critic of the balance sheets for years, but this year’s is one of the finest ever issued by the company.” said Mr. A. V/. Blanchard, commenting on the balance sheet of the Farmers’ Co-operative Auctioneering Company, Ltd., Hamilton, at the annual meeting held on Saturday. The fact that every department had shown a profit was something to be proud of. In recognising the efforts of the directors it must also be remembered that the results were also due in some measure to the staff, he said. Mr. J. H. Fisher expressed a hope that because the meeting was only a small one they would not sit down and think everything in the garden was lovely. lie referred to people who were doing business with other firms, but should be dealing with the Farmers' Auctioneering Company, which was a part of the Waikato. Mr. L>. Hay, replying to Mr. Fisher, said lie had been connected \yith another big institution which, he believed, did not regret the fact that working alongside it and doing fairly well in some cases were men who had formerly been associated with it. lie said it would eventually be a very bad thing for the farmers if the Farmers’ Auctioneering Company, or any similar concern, were to do all the business in the district. I-Ie believed in the maintenance of fair competition. RETIRING DIRECTORS Messrs. A. E. Manning and D. s. Reid, who were elected to fill the vaca * cies on the directorate caused by the retirement of Messrs. Hawkins and Barugh. both expressed regret at the circumstances that brought about the election. Mr. Manning added that Mr. Barugh was, perhaps, the pioneer of co-opera-tion in the community. He knew of no man who had done more for the farming community. During his period of chairmanship Mr. Hawkins had steered a straight course, shown inflexible courage and honesty of purpose, and had done everything in the interests of the shareholders of the company and all the Waikato. The main characteristic of these two men, said Mr. Manning, had been utter disregard of self. Messrs. C. W. Armstrong and R. P. Hazard were re-elected auditors at a fee of £SOO. Mr. D. Flay was reelected to the position of shareholders’ scrutineer. In expressing thanks for the motion of appreciation recorded, Mr. 11. S. Hawkins said the goodwill of those for whom one had worked was a most satisfying thing at the end of one’s Mr. Hawkins expressed the very sincere thanks of the directors to the staff. The directors were indebted to each one of them for his or her share in achieving the results before the meeting. At a subsequent meeting of direc- | tors Mr. Walter Seavill was elected chairman. STOCK EXCHANGE ASSOCIATION NEW ZEALAND CONFERENCE ! All New Zealand Stock Exchanges | were represented at the annual coni ference of the Stock Exchange Association of Hew Zealand which opened at Auckland this morning. The conference was opened by Mr. G. C. Creagh, retiring Hew Zealand president. Mi-. R. Wynn Kirkby, of Wellington. was elected president for the year 1929-30. Questions relative to stock and share market, particularly those aiming to make the investment market safer for the man in the street, comprised the greater part of the agenda pa per. The various, centres were represented as follow: Auckland, Messrs. G. C. Creagh, H. D. Noakes and J. \Y.. Frater; Thames, Taranaki and Gisborne. Mr. 11. G. Gillespie; Wellington, Messrs. R. Wynn Kirkby, J. Martyn Hume and C. D. Morpeth; Christchurch, Messrs. Frank E. Graham. Henry Ivitson and 11. G. G. Lyttle: Dunedin, Messrs. E. R. Smith and W. F. Sligo; Invercargill, Mr. J. B. Reid.