CENTRAL DAIRY COMPANY.

Press, Volume LXIII, Issue 12934, 14 October 1907, Page 3

CENTRAL DAIRY COMPANY.

ANNUAL MEETING. The annual meeting of the Canterbury Central Co-operative Dairy Company was held on Saturday afternoon, Mr J. Barnett presiding over a numerous attendance. .' The diiectors , retrort stated that though weather conditions during part of last season caused a decrease of 45 J tone in the make of butter, the report and balance-sheet were most satisfactory. The profit and loss account showed a balance to credit of £5144 2s 6d, including £1459 14s 9d brought forward. It was recommended that the amount to credit should be dealt with as follows:—Payment of usual 6 per cent, dividend, absorbing £776; bonusof i<l per lb to milk suppliers on butter fat supplied, absorbing £1861; write off 5 per cent, depreciation on buildings and machinery, £900; payment of t bonus of 5 per cent, on wages and ! salaries of employees not affected by I any award of the Arbitration Court, £70; in. reduction of mortgage, : £500; the balance to be carried forward. The milk supply received during the year was' 47,702,0921b; the average price pa,id to suppliers of butter fat wae 10.29 d per lb, and with bonus will be 10.54 d per lb. The butter manufactured totalled 1,931,4391b (862 i tons). Of this quantity 274 tons were export- | ed, and the remainder consumed in the colony. During the year the Morice creamery in the Little River district was opened. The decrease in the -winter supply of milk was becoming a serious question, and might mean before long the closing for several months in winter of a large number of creameries unless the decrease could bi; stopped. The Chairman, in moving the adoption of the report and balance-sheet, said that despite the alteration of the date of the annual meeting, so that all the season's products might be dispesed of by the close of the financial year, and so that each year might stand by itself, it was found impossible to carry out that idea. At the end of the financial year they had on hand butter valued at £3394 11s sfl, but every box of that butter had been sold. If the proposal to pay £500 off mortgage was agreed to, it would reduce the amount of the mortgage to £2000. The company had started consigning their own butter this season. They could only lose a small amount, but they had a fair prospect of making a good profit. Last year the company paid for carting cream from the creameries £745 15s 6d, whilst the railage charges were £1763 6s sd, making a total of £2509 Is lid. The carters had put up their prices, and the question was becoming serious. The difficulty connected with tflie supply of milk in the winter was likely to continue. It wae suggested that if the company guaranteed la or 10d per lb, the milk wonld be supplied, but it wae not possible for the company to do so. Hβ noticed by the newspapers that the people of ChristchurCh insisted upon getting fresh butter, and in his opinion it"would be a difficult matter to get local fresh butter in the winter, and •wpplie* would have to come from th« North Island. It was impossible to get fresh South Island butter in the winter under South Island conditions, unless at Ihigh prices. Mr J. Rickerby seconded the motion. The Chairman stated that the directors were not entitled to receive fees, although the executive were. It was explained that the payment of 10s and train fare as direotors fees had only been in force since November last. Mr R. Guthrie moved, and Mr Gardiner seconded, that directors' tees be fixed at Bβ per meeting and train fare. As an amendment, Mr W. Watson ! moved that the fee be 10s and train I fare. Hβ said that there were about 1400 people interested in the company, and th« amount spent in directors_ fees and expose* equalled Iβ 4id pereharepointed out that .wtakt the fe* proposedraaght ,'be all right-, for directors Uring ; in tfc* vicinity of_the town, it TU not sufficient for ,thoa» living «t a distance, who lost a whole day, and in come cases had to employ labour daring the period they were W Mr J. .Wolfe seconded the amendm The amendment was agreed to by 20 TO Messw B. Hill Fisher and Son were reflected auditors. ■* ' /The lotk-wing were elected to fill tire vacancies on the directorate:—Messrs Andrew Anderson, J . P ' Pannett, John Renme, E. T< Mullcock" A. Greenwood, F; Beker,. and A. "On"the motion of the Chairman, seconded by Mr Young, votes of thanks the office staff and the factory and dreamery M ]J r R, Ellison (secretary) and Mr J . Middleton (factory manager) returned flunk* on behalf of the employees. motion ofMr Young,»ec»nJ. «d by Mr Locbbead, a vote of thanks was accorded the directors for their services during the "past year.