FARMERS’ COMPANIES.

Waikato Times, Volume 114, Issue 19066, 3 October 1933, Page 2

FARMERS’ COMPANIES.

NEW ZEALAND CO-OPERATIVE. , NET LOSS OF £95,218. '{By Telpyanh.—Prp's Assentation.' CHRISTCHURCH, Tuesday. At the annual meeting of the New Zealand Farmers’ Co-operative Association of Canterbury, Limited, the company’s accounts, details of which were previously published, showed a net loss of £95,218 for the year. . The vice-chairman, Mr A. McKellar, said the company had had a good trading year. Gross profit had suffered very' slightly. Margins of gross profit, however, would probably have to be cut down a little in future in all trading. Canterbury Co-operative. The accounts of the Canterbury Farmers’ Co-operative Association, Timaru, which were published on September 21, were reviewed by the chairman of the association, Mr F. R. Flatman, at the annual meeting last week. A loss of £15,112 was disclosed on the year’s operations. An analysis of this figure. Mr Flatman stated, showed that the association, after providing all expenses of every kind, made a trading profit of £O-243. The cost of the alterations and reorganisation of the drapery department (£l-194) had been written off, and provision in farmers’ advance accounts. £15,002. had been made, together with costs of running advance accounts'. £llß9, with the resultant loss of £15.112.