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ANNUAL MEETING OF SHARE HOLDERS. The annual meeting of shareholders of the above company waa held in th c library, Okain's Bay, on Tuesday last' Mr C. S. F. Moore, chairman of directors, presiding over a rather small attendance. The balance sheet and directors report for the year ended July 31st, 1914, were read and adopted. The report is.as follows:— " We have to report in all respects considerable progress was made dur ing the past season. Some 4,516,909 pounds of milk were received, yielding 162,9121b3 of'batter-fat, average test of 360. Suppliers were paid 14d per lb. of butter-fat, a total of £9503 4s. - Tbe total quantity of cheese made was 197£ tons, a new record for this fac tory—l27 tons were shipped on con signment to the Bank of New Zealand, London ; 50 tons were sold to the New Zealand Farmers' Co operative Association for consignment on their account, and the balance was disposed of in New Zealand markets. All of tbe cheese shipped (177 tons) was first grade. 10.21bs of milk were required to make lib of cheese, and the cost of making was exactly £d per lb It has been decided to instal a whey skimming and whey butter plant, which, it is hoped, will be in operation early in the new eeason. £50 has been written off buildings, and £25 off plant as depreciation, and a sum of £50 has been added to fixed deposit, which now stands at £110. The directors recommedd a dividend of 5 per cent on 1665 shares held in the company. Tbe retiring directors are Messrs W. Pidgeoh and S. A. Harris. Tfcry are eligible for re-election." It was decided to pay a dividend of 5 per cent on 1665 shares- Tbe projected whey butter scheme was post poned on account of the financial crisis. The first ton of cheese made is to be forwarded to the fund for relieving distress in England. Messrs W. Piugeon, F. A. Harris and L. J. T. Priest were nominated for two vacancios on the directorate, and Messrs Pidgeon and Harris re- ' elected Mr 0. W. Leete was re elected auditor. Votes of thanks were passed to tbe manager and staff, and a vote of thanks to tbe chair concluded the meeting. DIRECTORS' MEETING. At a subsequent meeting of direc tors Mr C. S. F. Moore was proposed for reelection as chairman, but he declined, saying he had a long inning, and, would like someone else to take it on. Mr A. T. Mason was then elected Chairman of Directors for the ensuiDg year.*

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Bibliographic details

OKAIN'S BAY DAIRY FACTORY., Akaroa Mail and Banks Peninsula Advertiser, Volume LXXIII, Issue 4424, 25 August 1914

Word Count

OKAIN'S BAY DAIRY FACTORY. Akaroa Mail and Banks Peninsula Advertiser, Volume LXXIII, Issue 4424, 25 August 1914

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