CENTRAL DAIRY COMPANY.

Press, Volume LVII, Issue 10763, 17 September 1900, Page 6

CENTRAL DAIRY COMPANY.

ANNUAL MEETING.

The annual meeting of the shareholders of the Canterbury Co-operative Dairy Company was held on Saturday. Mr J. Barnett, Chairman of Directors, occupied the chair, and there was a large attendance of shareholders. Mr Wynn-Williams, solicitor to the Company, was also present. The report and balance-sheet, which has already been published, was taken as read. The Chairman, in moving the adoption of the report and balance-sheet, said that the year had been most satisfactory, there had been an increase in quantity of butter produced, and also a great improvement in the quality. The shareholders had spoken every year about the rate of interest -which was being paid. The Directors had come to the conclusion that it was only fair to pay the non-suppliers 6 per cent. They were" very much indebted to the non-suppliers, who had helped them to put up creameries in places where they never could have been except for the support of capital. There were many names which deserved recognition in this matter, but prominent stood that of Mr M. Murphy. (Applause.) This year the butter was sold at better rates than last year. The creamery at Southbridge would be opened in a few days. The confidence of the public in the Company was shown by the fact that no less than four applications for creameries had been received by the Directors. Some of their best men at their creameries were young men, and of course ! they were getting married and wanted cottages. Working expenses this year were returned at £1000 more than last year, but this was due to their increased operations. The whole amount of bad debts, £29 16s lid, was a tribute to the zealous work of the secretary. The land owned by the company was valued at £980 8s Bd, and the buildings at £5663 16s Bd, machinery £6701 0s 2d. They had written down the value of their property by a total amount of £2906 9s Id in four years. They, had paid in wages during the year £2357 16s Id; salaries, £357 10a. The cash received during the year had been £40,924 0s 6d. The quantity of butter sold for export had been 6d45 boxes, equal to 173 tons ; locally 255 tons, or a total of 428 tons. They had alao paid to suppliers of milk £31,242. (Applause). They had paid for railway carriage to the Government during the year £795 14a sd. The directors were now ready to afford any information which the shareholders might be required. The motion was seconded.,

In reply to questions •the Chairman said that the average price of butter during the year had been for the local and export supply. The Marshland creamery, he was sorry to, say, was not paying expenses. He had heard that a proposal was on foot to move the creamery. If those interested could satisfy the Directors that there was a fair chance of success in a new locality, he thought—but this was not official—that about 400 gallons guarantee would be required. As the Company had to supply milk all the year round they had to make special arrangements for the supply of milk outside the general suppliers. The milk supply business of the Company was a good and payable one, and was on a sound footing. With regard to a second separator at the Springston creamery the matter had been before the Directors and the expense had been worked out. But if the Springston people required it urgently it would be atattended to. Next year the information as to the miik business would be put before the shareholders. As to getting the Government Dairy experte to take tests, the matter was under the consideration of the directors, and it was probable that there would be a charge made in the manner of carrying out tests. The Chairman said that at the time of the Contingents leaving for South Africa the directors subscribed £20 to the War Fund, which, under tihe articles of the Association, was illegaJLpnless confirmed by the shareholders. TEere were also two private prizes, £5 5s to the Christchureh Show and £2 2s to the Leeston Show. The directors now wished for a vote of the shareholders confirming tfeeir action. It was resolved that the action of the directors be approved. The motion was then put, and carried. Air R. Hill-Fisher was re-elected as auditor of the Company. A vote of thanks was carried to the employees of the Company for their zeal and energy. The Chairman moved, That this meeting; of shareholders expresses their sympathy with Mr Dunlop in his bereavement", and expresses great regret at his retirement from the directorate.

This was seconded and agreed to. A vote of condolence and sympathy with Mrs Miln on the death of her husband was carried.

A hearty vote of thanks to the directors was carried unanimously. Six directors retired by rotation, viz., Messrs J. Barnett, C. Sanderson, W. Dunlop, J. Spence, F. Watson, and £L Stanbury. There were eight candidates for the vacancies, Mr Dunlop t not offering himself for re-election. The five old directors were re-elected on the ballot, and Mr Favell to fill the place of Mr Dunlop.