C.F.C.A.

Timaru Herald, Volume XIIIC, Issue 13703, 18 September 1908, Page 2

C.F.C.A.

REPORT AND BALAXCK SHEET.

The fifteenth annual meeting of the Canterbury Farmers' Co-operative Association (since reconstruction) will be held in the Assembly Roouw at 11 a.m. to morrow.

The direeciors' formal report and bal ance sheet w«-ie diairibut«l to r.hate holders some tiuw ago. The re{K»rt is a brief one, and will doubtless be as usual expanded by the chairman in an address. it congratulates the shareholders upou the «>*tis factory result of the past veait» bunues and ptoceeds :—"The disastrous lire that completely demolished the Association's head offices and warehouse, with their valuable vun'-eitts, in February la*t, lie cessarilv caused a cciioiderable difloca- • ion to tlh- business. Foitunately, having retained the old warehouse on Cain's 'leirace, and the stables in Bex wick .Stiet-t, n<> ".tine was lost lu rtoiuniug business in th-.r-e premL»es, and with some nei-es-sary alterations that have been effected, sliaieholdrjs' requirements are being sa.is f.ictorily met during tlie iuterval that must elapse befoto new premises can be available. '1 he directoin called for lUin |K-:itive designs for new f>ftices and war«liotit»e. and a large number were .*<iit in. After g ving much tune and coiwiiiemti.- n to the it»-[j<-t.t:ve n«-ri!s of mi h. they seeded the design* Mibmitted l>y M«.»*!• \\. and H. Black, of Capetown and Mel bourne. aii<i tendvis are now being <-alle,i !<t. The tine now woo! stoies at He*ton Slree: an- now complet*-rl and will Ik- !«ady for tllti dkiplity of I'ltetiijl' wool duriig thv a pjiUi.uhiiijj liir \t |»< ip of the las? i<.sll»> of 50lX) ] have been .illotud. and the dnectot* are no: jiinjioMng at |n«sesu :<i fur thcr capital. liic prcent tiuudier "S kliarehoiders is : >9.. Tiie A»»«<c:»turn's biisjici* cunt unci iii a Headv fv |i.ilc>H.j., bi.'lt at t)io JieaiJ cetitic oiid i»t ! Ise blalicho, at \\ .liiiu'e and t le|aklllic '1 he toi.il i-ales f (; i i},<- p,ii{ Yc.-. r atuoiitit i. the s ery Jaijfe »uin >1 £i,■,* 3* H'i 'I he tie;: auiunni ,»*at ! .jlile • i|»: niiUU.fii jr. „'•! til" <t i I I'.'nii tiit tiiat iiin i «m iw ii!" j «,4 ! C'i a* k . l'avnirnr f.;' a <ii\td<"t>>! : of ii |t .rut. i-ti {Mi>i-Mp 3 p<-.- j i rut l{<inus on pur< h.»»e« nudp hv { ht.id* i« dutUiij the xe.it '»fci J'"ilUuiai iiu j j.h-m'ii'.* r*«'«"p:» <ii ; '£') pv< | ii hohUi■ i.n alt i *.!iinu s >;on< «t*.| j eiiep'td- ; 0 |* r b* tins So he ; in the btatf 'in »aUrif>* ar> 1 wag«> I Ua; j tU-- mm u( »0* '&■*> '»>< i

:]ia reserve fund.. which will then' stand ;it £50,000; and that afu-r allowing .for auditors' and stocktakeis' fees, the ■ balance .be tarried forward.". The balance sheet for v the year ended 51st July shows that the amount of chare capital, paid up was £75,261 " cu 30.000 £5 chares leaving uncalled a nearly equal iimount- —£74,738 10s. 0£ the shares 112 are paid tip to £5; 2116 to £3 15s; 26,250 .to £2 10s, and. 1522 to 15s. O.her capi'-al amounts belonging to shareholders are reserves amounting to £46,046. ' . Liabilities - to be provided for, preceutly or prcspeciive'.y (shillings and pence omitted) were: £ Unclaimed dividends 105 Fixed deposits . 151, 3y6 Shareholders' current ace s ... 53.800 Sundry' creditors - 15,445 Drafts against produce 13.105 Union Bank 313 The total liabilities to shareholders and others is £379,829 los lid. The assets list is as follows, the first item, freeholds, being their cost 1. e.s £BOOO written off from time to time (shillings and pence again omitted): £ Freehold property 52,360 Leasehold property 894 Plant and lnrniture 4.642 , Advances on produce 76,398 Due on open accounts 42,304 Due on aubtion accounts 96/761, Due for grain sold 19,600 Bills receivable 2,343:-, Investments 1,410 Goods on hand 82,219 Cash on hand 897?. The total as on the other side is £379,829 13s lid. : The. receipts for tlte year total, £57,704 9s Bd. made up as follows (to nearest £ in each item): £ Commissions 9,911 Interest, exchange, and rent 2,728 Storage charges 496 Cancelled dividends 18 Yardage ana dipping 57 Cress profit on mercnandise and produce 39,396 Total'earnings 54,089 The working expenses list (similarly contracted) is as follows: £^ .Stamps and telegrams 937 Salaries and wagvs 19,481 Directors' fees 459 Insurance premiums ............ 1,292 Incidental expenses ............ 2.700 Kates and taxes .1,517 Books, stationery, priming and advertising 1»0G$ . Rent railway sidings 137 Government license 75 Auctioneers Cartage 1,273 Depreciation investment 40 Depreciation leaseholds 94 Depreciation furniture and plant •■•■••••• 4JI. Bad and doubtful debts ... 1.074 Fire loss account 2,823 The total is £33,437 0s lid, leaving, with credit balance from last year £3615 10s lid, and nett profit for the year £20.651 17s lOd, £24,267 &* 9d as the credit balance to be disposed of.