GOOD TIDINGS.

Sun (Christchurch), Volume I, Issue 169, 22 August 1914, Page 11

GOOD TIDINGS.

N.Z. FARMERS' CO-OP. ASSOCIATION.

A RECORD YEAR.

The shareholders of the New Zealand Farmers' Co-operative Association of Canterbury will find pleasant reading in the annual report and balance-sheet of that association.

At a meeting of the directors this morning, the balance-sheet for the year ending July 551, 1914, was considered. It showed that the profits amount to £63,890 5/7, which, after adding £3938 16/- brought forward from last year, gives a total to be dealt with of £67,829 1/7. It was resolved to recommend the following allocation:- — , To pay 6 per cent, interest on the preference share -capital, and 8$ per cent, on the ordinary share capital. A bonus of 5 per cent, on shareholders' purchases of general merchandise ' 3 (net items excepted).

A rebate of 30 per cent. 011 commissions (net business excepted). To carry £IO,OOO to the reserve fund, which will then stand at £122,000. To write 10 per cent, off machinery and plant. To make a contribution up to £IOOO towards the employees' superannuation scheme. *

> To make a contribution to a special fund to provide for contingencies that may arise with regard to the members of the staff at the war of £IOOO., To carry the balance forward.

The date of the annual meeting was fixed for Saturday, September 26, at 11 a.m.