Mr F Mallon, chairman of the committee of management, told shareholders that they should be proud of their society, “as all trading members would benefit considerably from the payment of share interest, mart dividend and a particularly good dividend on purchases of farm requisites”.
He told them that the payout would be in the region of £45,000 and this would be “going into the pockets of those who supported their own society.”
This return, Mr Mallon noted, was “very satisfactory when one considered the difficulties encountered in all areas of business, both locally and nationally in the year 1979”.
He paid special tribute to those who were responsible for the success of Carn Fasteners Ltd, which had shown a profit in excess of £100,000.
The general manager, Mr T McIlwaine, dealt in detail with the profit and loss accounts of all the enterprises and pointed out that, “with the present strength of the balance sheet of the society, it should be in a position to overcome any difficulties which could arise in the years ahead”.
He congratulated the members and non-member customers who supported the society; especially the mart and farm requisites. He felt that the dividend would not only be beneficial but would serve to let them see the advantages of supporting their own business.
Mr Bill Ross, secretary of the UAOS, conducted the election of members to the committee, which resulted in the four retiring members being re-elected.
He pointed out that it would not always follow that bigger turnovers would mean bigger profits, “because of the ever-increasing costs, so that it would be difficult to achieve the same figure in the present year”.
Mr Graham from Fane Valley Co-op, deputising for the general manager, Mr Bob Wilson, added his congratulations to the society on the results for 1979 and referred especially to the livestock marketing end of the business.
The chairman pointed out that the committee always aimed at ensuring that the farming community would “reap any benefits arising from co-operative buying”.
He added: “The management are constantly investigating any services which could be had by this type of business agreement and the members will in turn benefit from it.”
TWO NEW MEMBERS FOR POTATO BOARD
The Northern Ireland Seed Potato Marketing Board had two new members, reported Farming Life, they were William James Haughian, of Annalong, and John Gilmour, of Coleraine.
In the election for the Co Down seat Mr Haughian, secured the seat by 216 votes to 14o votes, and he had defeated the sitting member, Norman Peters of Katesbridge, Banbrídge.
John Gilmour was the new regional member to replace Mr Raymond McCullough, Katesbridge, who did not seek re-election. Samuel Peden, Kirk Road, Ballymoney, was re-elected for Co Antrim.
BRISK TRADE AT BALLYMONEY
Many buyers were in attendance for a near record entry of stock at Ballymoney Mart during this week in 1980 noted Farming Life.
In the bullock ring 174 head met brisk trade with strong Friesian lots selling to £382, obtained by G Dorrans, Cloyfin, who also sold a pair of Friesians at £373 each and a pair at £370.
The best of the Continental breeds made around £85 per 100kgs, Friesians had topped at £80.
The following prices were recorded at Ballymoney: James Craig, Ballycastle, seven, £322 each; T Glenn, Coleraine, bullocks to £375; Brian Simpson, Armoy, bullocks to £332; Mrs McIntyre, Bushmills, Friesians £321 each; S Sharpe, Coleraine, pair at £306 each; D Pollock, Coleraine, 12 to £322; Brian Jamison, Armoy, pair of Charolais £308; James Pollock, Drumcroone, bullocks, £318, £332 and £310.
Suckler cows with calves reáched £330 received by S Chestnutt, Carnmoon for a cow with Charolais bull calf.
A special entry of pedigree Friesian bulls created a lot of interest. Harold Adams, Portrush, sold three pedigree bulls at £304, £297 and £293; W J Redmond, Armoy, sold a pedigree Fríesian bulI for £300.
Store heifers were also a good trade with choice lots selling to £85.08 per 100kgs, when a blue heifer at 295kgs from John McKeague, Ballycastle, sold for £251. Friesians sold to £82.69, obtained by Mrs S Kerr, Cullybackey, for a 260kg heifer at £215; Irwin and Co, Blackhill, sold Charolais cows at £319 and £301 while J Curry of Glenbush sold heifers to £269.