Dear Sir

Bay of Plenty Beacon, Volume 1, Issue 50, 16 August 1939, Page 4

Dear Sir

Sir ? —May 1 have space in your columns to congratulate the directors and management of the Rangilaiki Plains Dairy Companj\ on the success of the past season's operations, as shown by the balance sheet just issued. Apart from the net payout of 16 l_sd per lb for butterfat, \Vhich is more than satisfactory in itself the ample allowance for depreciation; and proper writing down of assets, places the company in a truly sound position. ■From a]] points of view, the policy carried out by the directors in the past ? seems most likely to serve the interests of suppliers in the future, and should less prosperous times befall us, few companies .will be so well able to face whatever difficulties might arise through a posJ sible drbp in the price of dairy produce. From the wording of a notice of motion with regard to the election of directors, as set out in the an_ nual report it appears that the mover seeks a mca,ns of bringing about a change in the personnel of the dibut surely it would be.-un-wise to interfere with a system that has given us the directors, who are responsible for the success that has been achieved. If any vindication of 1 the policy of the present board is asked for, it is there in the facts and figures provided in the annual report ind balance sheet, and in the writopinion it is more than a vindication; it is a triumph for the directors, management and staff to all of whom the best thanks of suppliers are clue. Yours etc., PLAINS'COCKEY.