FARMERS' CO-OPERATIVE COMPANIES.

Taranaki Herald, Volume LIV, Issue 13757, 21 September 1908, Page 5

FARMERS' CO-OPERATIVE COMPANIES.

Per Press Association OAMARU, Sept 19. The annual meeting of the' North Otagp Farmer^' Co-operative Association was held to-day. -.The balancesheet showed a profit of £21945. The report recommended a' 'dividen^t of 7 per cent, to .shareholders. An amendment was moved to make a dividend to shareholders of 5 per cent., with 10 per cent, bonus for commissions, and 2$ per cent, on purchases, but this was rejected and the report and balancesheet adopted. The retiring directors were re-elected. • -.

CHRISTCHURCH, Sept. 19. The annual meeting of the New Zealand Farmers' Co-operative Association of Canterbury was held this afternoon. Mr %t J. A. Pannett (chairman of directors) presided. In movinig the adoption of the report and balance-sheet, the chairman said he. felt- >ihat, all things considered, the shareholders were to be congratulated upon a successful year's operations. The profits for the twelve months amounted to £26,759, which, with £5386 carried over from last year, gave a total of £32,145. The earnings for the period as compared with those- of the previous year showed a diminution! consequent upon the disastrous collapse of the wool market and the exceedingly dry weather during the greater part of the summer, which naturally affected the auction and stock commissions, and, lastly, the money stringency, which made its effects felt more or less in every department of the business.