THE FARMER A SUCCESSFUL SOCIALIST.

Wanganui Herald, Volume XXXXIII, Issue 12581, 30 September 1908, Page 4

THE FARMER A SUCCESSFUL SOCIALIST.

The mere mention of Socialism to th« average farmer produces in him feelings akin to those supposed to be felt by the proverbial bull when a red rag is presented to his astonished gaze. Socialism is anathematised by the farmer, who fails to see — doubtless because he does not stop to think — that the principles of Socialism which he condemns in such unmeisnred terms when advocated by the workers are identical with the aims and objeots he supports as a member of a farmers' cooperative association. "This aspect of the question we have previously alluded to, and we are reminded again of H by reading the report of the New Zealand Farmers' Co-operative Association, held on Saturday fast at Chrislchureh. The proceedings showed, as the Tress remarks, that the institution is being conducted with a vigorous policy of progress, and that, in spite of the fall in wool, the dry weather, and other unfavourable conditions, it has had a successful year. \ The amalgamation with the North Canterbury Co-operative Stores Company, Ltd., of Eangiora, Hawarden, and Oxford, absorbing the entire business of the latter, has materially extended the area of the Association's operations, besides adding 1300 members to the register, £13,000 to the reserve fund, and £40,000 to the paid-up capital. Despite the adverse circumstances alluded to, the directors were able to net profits during the twelve months amounting to £26,758, which, with £5386 brought forward from last year, made a total of £32,145 to be dealt with. This not only enabled them to pay . a dividend and bonus amounting' to 9 per cent., in addition to a bonus on purchases, a refund on commissions, and a bonus to employees, but to carry forward £4725 to the reserve, which how stands at £58,000, equal to about 52 per cent, of the paidup capital. Spacious additions have Leen made to the Christchurch premises during the past year, and further improvements are contemplated. So- successful has been the Association, that a further expansion of its business is contemplated, and to that end the capital is to be increased. The N.Z. Farmers' Co-operative Association is a veritable triumph for Socialism.