The Taihape Daily Times. AND WAIMARINO ADVOCATE WEDNESDAY, FEBRUARY 20, 1918. A PURELY FARMERS' COMPANY

Taihape Daily Times, 20 February 1918, Page 4

The Taihape Daily Times. AND WAIMARINO ADVOCATE

WEDNESDAY, FEBRUARY 20, 1918. A PURELY FARMERS' COMPANY

(With which is incorporated The Tai hp.pe Post and Wairuanno Newel

The New Zealand Farmers' Co-oper-ative Distributing Co. Ltd., has completed another year of its existence, and its annual report and balance sheet, which some unknown friend has been good enough to send us. is a revelation as a co-operative document. Farmers have been saved huge sums of money in the purchase of their requirements, while what they have had to dispose of has brought them higher profits than could possibly have resulted from using the old time methods of marketing. Farmers, through their own company have reaped a bounteous harvest from their co-operation at the buying end and also at the selling end, and this marvellous success is all attributable to co-operative loyalty. The Farmers’ Distributing Company is an object lesson which shareholders in the Taihape Farmers’ Freezing Company might take into their most earnest consideration. Without the extreme loyalty of its members this Company could not have achieved such gratifying success, but loyaltypays in such concerns and we would ask farmers in this district to get a copy of their distributing Company’s balance shoot and report and see for themselves the enormous savings accruing from doing their own business through the medium of their own concerns. Looking at the figures of the Distributing Company’s’ balance sheet, and reading them in conjunction with the annual report, they present nothing short of an amazing development. The called up capital four or five years ago was an insignificant few thousands, now they have over twentyeight thousands actually called up, and a nominal capital of tw r o hundred and fifty thousand pounds. We ask farmers to realise the increased progress during the last year because that wonderful achievement is only an indication of what Can be accomplished \.by loyal co-operation, and of the still more wonderful progress that is going to be made in the near future. In the last financial year, the report says, £62,680 more capital was subscribed. ms indicates the unbounded faith farmers have in their own distributing concern, but we venture to say that even such astounding development as instanced in the last year’s operations wi I bo a small matter when compared with developments of the near future Farmers are realising that their opportunity has conic and they arc everywhere grasping it. The Company’s assets show a corresponding increase, and happy must be the concerns that can face the future with a similar banking account. The assets now total nearly forty-one 'thousand pounds, £10,263 of them being cash to commence the current year’s business with. The total sales show an increase over last year of nearly two hundred thousand pounds. The wool business was only entered into in 1916, there being some 2,200 bales handled in the initial

season. This year the Farmers ’ Distributing Company have faced Government graders with more wool than any other broker. What the total will be, or what the increase will be over last year cannot yet be estimated, but it is safe to predict "that it will more than double the previous year’s handlings. What is of paramount Interest to farmers in this district is that the Farmers’ Distributing Company !s opening a branch in Wanganui, from whence it will operate throughout the Wanganui and Rangitikei districts. Taihape farmers will soon participate in their immense profit-earning concern; shares are rapidly being taken up in some quarters. Between thirty and forty thousand pounds have been subscribed for the Wanganui and Rangitikei extension, and it is beiiev,ed farmers in these districts will bring that up to a total of not less than £BO,OOO. Farmers now fully realse that they have supported many barnacles which co-operation enables them to become free of. They have worked and produced to be fleeced by combines and trusts, and they arc~'o\y realising that their emancipation lies in their ability and determination to do their own buying and their own distributing through their own co-op-erative company, and so reap all tnc profits accruing at both ends. The" report is too lengthy to quote in full, but it may be mentioned that in the purchase of woolpacks, eightpeiice was saved by farmers on each and every woolpaek purchased from their own company. Instead of huge middlepretfis on wool going to European syndicates, the money will be retained in New Zealand, and no doubt a way will soon be found to eliminate the jineat trusts. The huge slice of profits such wasteful ,barnacles now take, •between producer and consumer, will I mean millions more to the producers andcomparatively cheap meat to consumers. Every farmer in this district will find it is in his best interests to consider well the progress and profits the Farmers’ Co-operative Distributing Company is making, and then decide to take some shares therein so that full advantage of what it offers may bo enjoyed.. Capital subscribed for the Wanganui and Rangitikei business has reached £33,000, but quite twice that amount is required to cover the available ground effectively. However, a branch is being opened at Wanganui at the earliest possible moment, and its success is doubly assured.