According to an old proverb those self-reliant people " who help themselves " have the best of helpers on their side. Acknowledging as we do the truth of the proverb it seems almost euperflous to draw the attention of our up-oountry men lo the prospectus of the Otago Former's Co-operative Association of New Zealand, wa do so, not from any abstract love for companies, too often got up for the benefit of a select few who raise hopes and make promises magnificent enough whicb, alas, are seldom realised, but becaute thera appears to be nothing of the bo<- us kind about this Farmer's Association. There are no " dead-head -I shareboldersand no shadowy rights are to be paid for out of the capital to be subscribed. The directors are all farmers well-kuown in tbeir respective districts as practical, Bteady-going men, and i he association ia to be kept rigorously under rural control, the interest of small shareholders being kept in view by the limitatation of the power of the largest holder of shares to five votes, The principles upon which they propose to conduct their affairs ia in every way what is styled Co-operative. The shareholders who give business to the company setting the profits in bonuses at the usual interval for settling up accounts The association takes for its model and example a Cbnstchurch association of the kind which has been doing very good business for many years. A popular feature in this Christchurch concern is tbe advantage given to its shareholders in buying all kinds of goods in their stores which are worked on the same principle as the army and navy stores in the Old Country. We commcrjd this Otago association to the cousid:ration of our farmer readers.
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Bibliographic details
New Zealand Tablet, Volume XXI, Issue 46, 15 March 1895, Page 15
Word Count
288Untitled New Zealand Tablet, Volume XXI, Issue 46, 15 March 1895, Page 15
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