CANTERBURY FARMERS' CO-OPERATIVE ASSN.

Timaru Herald, Volume CI, Issue 15444, 5 September 1914, Page 7

CANTERBURY FARMERS' CO-OPERATIVE ASSN.

RESULT OF YEAR S WORK

XET i'itul'll' £3: l. Gi3. .\t a of tin. JJuanl of Diivcto.3 u-»u ,> riu i the ueue.ai r>i..na o >. t «uu->u).i l\rd *L ..ud t'il'J tttvlVc moiiiiiSj tt UlfU SilOlVed Lltill luu la mis u;iV-- ivsiiilcj t:i a no. w p. out i»i- mo year of i'3°-!.-~-!o Is Ikl, v. N.u.i, v.Mli tuo itiuuulU ot i' 7103 lis lii biojgnt loiwata ti.iiii l.isi. voar, a total amount »-I ~11 !-}» lu jorwaiti tniiii ;tst yv:w, gives a toi::i amount to ho a«:alt ,m;, , t Kis iti. 'litis result will enable the Directors to a.locate ttio prohts for tno year oa a similar ba.-is to last year, and the 1) rvt'tors will recommend thu payment ot C [kt com. ou prelori'uco vcpital aiul Son ordinary capital. With respect to tin? (li.str.bitiioii of bonuses and rebates, ttio ivstths would justilv tiio payment a bonus on purchases equal to 5 petcent. an*' a rebate o't commissions earned ol -'J ptv cent., \v t!i tho other usual provisions <>n a similar scale to L.st year—iriduci.iij; a bonus to the Mail' ot 4 per nut., but in vii-iv „t me present dislocation n bi.sino.s and finance "eueiaily. ovvinu to tno v,;ir. [hi? Directors may decide to withhold tin? payment ot tiij wiu.le ur a ;> irtioa of bonuses and re!>. t.s for a tin,,., i: nt 1 the outieolc I'ecoiiie.-i a little more s, ttied. The actual iSee.sion of tile Directors on this P'imt htiWfvor, will l,u reserved until a later meeting. prior to the annual genera! meetin-j; of shareholders. Over an'.l above the apportionment of profits on the lines indicat <1 above, there will !»• a siifficVnt an., -tint still li ft to m-ke an add t on to reserve funds of £3'>K). and to carrv a sv.estinitial amount forv.ard into the current voar. Only one nomination was receivd for the vacuM.-y on the Hoard. li.-meiv that 1 i .Mr 1. T,. Hart. < \ .Morvon. and the "th'-r re> nil" Doer-tors hnvhi/ inti:i':.i.-\ the r v. to si on! fo>t! " r " will 1... ballot this year. Mr Hart hen- elect,.,! to til' the Vat iii-v. Tit • nr>»•';••! r. r.v.--d f,. r >at'tr.::,y. the -_» tr}, ~f i;-„f m 'ier.