THE CANTERBURY FARMERS' COOPERATIVE ASSOCIATION.
Per Press Association. TIMARU, September 15. The twenty-first annual meeting1 of the Canterbury Farmers' Co-operative Association was held on Saturday afternoon. There was a large attendance of shareiholders, Mr. John Talbot (chairman of directors) presiding. The balance-sheet showed1: Capital subscribed, £87,385; paid up, £43,570; .reserve, £24,837; net profit for the past year, £12,305; carried forwardl from las* year, £1148; "making a total of £13,453 available for distribution. It was decided tbf pay 8 per cento, on the capital paid up, a 6 per cent, bonus on ipnxrchases by shareholders, refund 25 per cent, on grain and auction commissions (wool excepted), 6 per cent, bonus to) the staff, add £1500 to the reserve fund, and carry the balance forward. The total profits distributed in 21 years is about £80,000, besides acquiring property valued at £50,000. The turn-over this year.is- about £400,000. The retiring dlireotors were re-elected without opposition. _,
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Bibliographic details
Wanganui Chronicle, Volume XXXXVII, Issue 11738, 16 September 1902, Page 7
Word Count
152THE CANTERBURY FARMERS' COOPERATIVE ASSOCIATION. Wanganui Chronicle, Volume XXXXVII, Issue 11738, 16 September 1902, Page 7
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