TAI TAPU DAIRY FACTORY.

Press, Volume LIV, Issue 9814, 25 August 1897, Page 6

TAI TAPU DAIRY FACTORY.

Tlie annual meeting of this factory was held on August 23rd, at 7.30 p.m., in the schoolroom. There were about seventy shareholders present, and Mr R. A. Forbes presided. In snbmitting the ninth annual report and balance sheet the Directors congratulated shareholders on the prosperous year just ended. The total quantity of milk received was 8,645,0731b or 785,915 gallons at 10_lb per gallon. The price paid for butter being B|d gave suppliers about 4d per gallon for their output of milk for the year. The butter manufactured amounted to 348,2011b, of which local sales and fanners' supply for home use absorbed 202,0061b ; exported 133,4561b • balance, 14,7391b. The average price of butter per lb. obtained was 10 5-16 d, and the average price of butter per lb. paid to suppliers Bjd net. The balance of mi rtfert rta- m follow:— Tht r«-

frigerating plant account amounted to £586 10s 5d at July 31st, 1897, from which 198 shares have been allotted, leaving a balance in hand of £141 0s 5d towards the completion of cost of the plant; still requiring the sum of £177 13s 5d for final adjustment by stoppages of one farthing per lb. from each supplier's butter. Your Directors are pleased to state that the replacing of a new boiler in the factory is in course of completion ; with this it may be said that the machinery is now efficient, and would be complete with the addition of a pasteurising plant. The balance-sheet now before you shows an improvement on all those previously issued, and shareholders are to be congratulated on the financial position of the Company, which should be gratifying to all concerned. Your Directors recommend that a dividend of 5 per cent, on subscribed capital at July 31st, 1896, be declared. Messrs T. Macartney and J. Mangels are the Directors retiring by rotation, both of whom are eligible for re-election, without notice, and offer themselves accordingly. Mr A. C. Nottingham is eligible for* re-election as Auditor. Mr T. Quealy declines to be nominated for the position of Auditor. After a number of questions had been asked and answered, and a lengthy discussion on the old vexatious question of testing, the report and balance sheet were adopted, o.i the -notion of the Chairman, seconded by Mr W. Watson. The retiring Directors, Messrs 'J'hos. Macartney and J. Mangels, were re-elected without opposition. Messrs A. C. Nottingham and G. A. Smith were elected auditors at a fee of five guineas each. Hearty votes of thanks to the Chairman, Directors, Manager and staff were carried by acclamatiou and duly acknowledged.