A PROSPEROUS CONCERN.

Wairarapa Age, Volume XXXI, Issue 3006, 1 October 1908, Page 4

A PROSPEROUS CONCERN.

Shareholders in *he Wairarapa Farmers' Co-operative Association have every reason to congratulate themselves on the result of the past year's working, and of the very sound position of the Association generally. At the annual meeting yesterday the Chairman of Directors (Mr M. Caselberg). placed before those present a balance sheet of a highly gratifying nature, disclosing as it did that after making liberal allowances for bonuses to shareholders, employees and directors, and after carrying forward £7,000 for next year's profit and loss account, a dividend of nine per cent, on paid-up capital remained. Such a balance sheet, coming at the present period of business quietude, will inspire some hope in those who regard the present unusual conditions of the various markets in a rather too morbid fashion. We like the optimism of the Chairman of Directors when he said, "I feel confident that the slump in the prices of wojl and other commodities is only temporary. The country, in my opinion, will soon experience a i-evival of prosperity, confidence will be restored, a demand for labour will arise, and all trades will be in full swing. The natural wealt'i and resources of the country are of too substantial a nature to admit of a depression for any length of time." Mr Caselberg's remarks on this point coincide with the view J of the most reliable authorities elsewhere. Even that usually pessimistic publication, the "Mercantile Gazette," of New Zealand, in its most recent says; "From our ?wn point of vi:r, there is no depression, but a te;:,p;i v ary set-back," and goes on to advise a sober recognition of the actual conditions, and the encouragement of thrift rather than indulgence in gloomy contemplation. Reverting to the affairs of the Wairarapa Farmers' Co-operative Association, it might be fairly considered that in the progress of such a large concern is to be found' a reflex of the advance of the district, and from such a conclusion there is cause for pleasurable reflections even in the minds of people outside of the Association. It was stated by Mr M. Caselberg that applications for shares from outsiders f r .r purely investment purposes ware frequently received, and invariably declined on the principle that only those who intended trading with the Association should participate in 'the annual dividord. This serves to show how really strong the Association is, and we repeat that shareholders have cause to feel proud of the fact.