Pukeuri Dairy Factory Company, Limited.

Oamaru Mail, Volume XXIV, Issue 7685, 29 November 1899, Page 4

Pukeuri Dairy Factory Company, Limited.

The annual meeting of shareholders was hold in the factory on Monday night, a fair number of shareholders being present In the unavoidable absence of Mr Barr, Mr J. Cagney was voted to the chair. The minutes of the last annual meeting wore read and confirmed.

The Chairman, in the course of a comprehensive speech, reviewed the operations of the Company from its inception. He considered it a very encouraging facs that the number of suppliers had nearly doubled, which proved that the farmers wire now beginning bo realise the importance of mixed farming, and doubtless in the near future the factory buildings would be found inadequate for the future expansion they might reasonably expect. The Chairman then called upon Mr Oakden to read tho annual reporb and balance-sheet, which was as follows :

Your directors beg to report that the past season has been fairly successful, although the supply of milk has not been so large as they anticipated. The quality of cheese has been well maintained (as proved by the Government grader's report), and all shipments exported have brought the highest prices ruling on the London market. Your directors, therefore, take this opportunity of thanking Mr Guild for the untiring energy he has displayed in the Company's service. During the year we have added a complete butter-making plant, which will make future operations more profitable, as the factory will now be kept open further into the winter. [The purchase and fitting up of this plant having entailed an outlay of nearly LIOO, your directors cannot recommend the payment of a dividend. (Che supply of milk this season promises to nearly double that of any previous year, and the numbers of local supplies has also very materially increased. The whole output of cheese having been sold at a satisfactory figure we have been enabled to increase the price of milk to 3Jsd por gallon. The Taieri and Peninsula Company again mado overtures in reference to i the purchase of the factory, one of their con- ! ditions beinc; a guarantee of a minimum supply of 500 gallons of milk daily. Your directors considered it useless in the meantime to proceed further in the matter. During the year seven ordinary meetings have been held, which were well attended. The past arrangemsnt of leasing the factory having proved to be in the beso interests of the Company we have leased the factory on the samo terms for the current year. The chairman pointed out that although they were unable to pay a dividend this year, a complete butter plant had been added at a cost of LIOO, a considerable portion of which had been paid out of profit; therefore, naturally increasing their assets. Id was intended to start butter-making about Maroh, and to continue all through the winter if the supply warranted. It was moved by Mr Schluter, seconded Dy Mr M'Pherson, and carried unanimously, that the report and balance-sheet as read be adopted.

The election of directors to fill the vacanoios caused by the retirement of Messrs Craig, Frew, and Cuthbertson then took placo, when there being more than the required number nominated, a ballot resulted in the election of Messrs W. Bee, J. Familton and H. Schluter.Mr Sohluter returned thanks for his election and Mr Oakden, on behalf of Messrs Bee and Familton (who were not present), thanked the shareholders for their election.

Moved by Mr Goodall and agreed to, that in future the secretary shall include in the report the names of directors and those who by the Articles of Association retire in rotation.

On the motion of Mr Moir a very hearty vote of thanks was pasaed to the directors for their services, and to the manager for the energy and zeal he had displayed in the company's service. He considered that the directors had acted wisely in securing the butter plant, and did not think any shareholder would object to their year's profit being applied to secure it. The mooting closed with a vote of thanks to the chair.