HAWKE'S BAY FARMERS' COOPERATION ASSOCIATION.

Wanganui Chronicle, Volume L, Issue 12259, 6 July 1909, Page 5

HAWKE'S BAY FARMERS' COOPERATION ASSOCIATION.

(Per Press Association.) NAPIER, -July 5. The annual, meeting of the Hawke's Bay Farmers' Co-operative Association, 'Ltd., was held to-day. The balance sheet showed that after making due provision for all necessary depreciations on buildings and plant, the balance of profit, including £1457 14s 7d brought forward from last year, amounted to ;C->333 9s lid. which the directors re-<'f:mnu'iide-:l l>o allocated as follows: ."A1 divideud of 8 per eont. on the paid up r.'ipj+.ai, a boii::- ••? 12^ per cent, on c.ini:i!i?sions c-in: ■ >■'■' itwl by slinrehoulAi, (iand exi''fM:^>([i. a-bonus oi 2 per conf." Vm-^^il'ls : ■■■•■lased by shareholder (>,* a bonus < . ;^I--?ss"t. on salaries, and the baJniT - <;-Tried u>\ ni*. !"*'!•__.TTv"., chairman (Mr A. J. Rufsoll) sa'cl ttiat notwithstanding the financial stringency the paid'up'-ca])ital had imTonwd by £7113 during the ' year, representing the'allotment of 2371 -new shares. The liability under the headings of shareholders' . deposits and sundry creditors now stood at £39,258. being a reduction of £15,192. The balance of profit for the year must be considered highly gratifying when the conditions under which the business was conducted were considered. Tho report and ' balance sheet wore adopted. Messrs J. W. Harding, W. A. Cowper and J. Hunter Brown were re-elected directors.