CENTRAL DAIRY COMPANY.

Press, Volume LI, Issue 15421, 28 October 1915, Page 2

CENTRAL DAIRY COMPANY.

— « ANNUAL MEETING. Tho twenty-third annual general meeting of tbo Canterbury Central Lo-operativo Dairy Company was held yesterday. Mr J. Barnett. chairman of directors, presided over an attendance of 30 shareholders. TJio annual report stated that although last season's weather conditions were such as to cause a decrease of 92 touts in the make of butter, the year had l>een tho most successful tho company had yot experienced. The profit and loss account showed a surplus of £15,-114 153 sd, including 18s 8d brought forward from last year, which it was recommended should be dealt with as follows: —To pay tho usual G per cent, dividend, £784; to write oft buildings and machinery at creameries, £1500; to write off buildings and machinery at factory, £400; to pay a bonus to suppliers of lid per lb on butter-fnt supplied during the year, £10,460; to place to reserve fund, £338 lis 3d, bringing the total reserve to £4000; to pay tho usual bonus of 5 pei- cent, on wages and , salaries, £105, and the balance to bo carried forward to next year. Tho total milk supply for tho year was 35,556,6271b, and cream 1,089,4291b. The average yrico paid to cream suppliers had been 12.83 d. and to milk suppliers 12.26 d; and with the proposed bonus of lid per lb, will make tho prices for tho year as follows: — Cream suppliers, Is 2d; milk suppliers. Is lid. The butter manufactured was 2,337,9261b. or 1043J tons. Tho export shipments amounted to 398} tons, the balance (645 i tons) being disposed of locally. Tho quantity of milk taken to make ono nound of butter was 2<°».3ib. In moving tho adoption of tho report and balance-sheet, tho chairman said that the Canterbury Central had done more than all tho other dairy companies in building creameries to help scattered districts. Tho creameries, however, were not as valuable as they were atone time, and it was therefore necessary to reuueo thorn. He had much pleasure in stating that, t.he company were in a position to hand over in hard cash a bonus of £10,460, and this, in conjunction with other figures, showed oonclusivcly that the company's butter was the most popular in Christchurch. The company, he said, had often been subjected to unfriendly criticism, but there was onlv one conclusion to l>o drawn, namely, that the directorate had tho full coiifidonco of the shareholders and milk suppliers. In the dairying industry, he continued. everything had changed, and perhaps not for the better. The comtany, in spite of complaints, would have to have men on the road looking after the cream. In the past tho supply could bo trusted, but at tho present time it was a different matter. The outlook for the coming season, ho continued, was not too promising. .Although tho recent rain had done a lot of good, it, was now too late for a good season. Tho cows were in poor condition and feed was very short, and he feared that tbo cream test would fco iow. It did not matter so much about tho condition of cows and feed, but every endeavour would havo to be made to keen the cream test as high as possible all the time. Last year there were 300 home suppliers of tfrcani and 675 suppliers of milk, making a total of nearly a thousand, and on account of the extra, quantity of home-separated cream supplied the company had been obliged to increase their pasteurising plant, and a new machine had been added to the works. The company's plant was noxr worked by power from Lake Coleridge, which had effected a saving of expense. The Christchurcb Fire Board had cut the company's premises out of the fire district, and thev had been oompelled, therefore, to make provision against.

flutbrcafe. Ho had much pleasure in stating that tho company was completely out of debt. Tho la9t time he took, tho chair there had been a mortgage of £5000. To-day there was no mortgage. Illustrating tho growth of the company, he wont on to quote the increase in the cash receipts during reccrt years In 1911, the receipts were £120,232 2s Sd. in 1912 £124,427 7s, in J913 £130,948 18s Id, in 1914 : £131,7f8 9s Bd, and in 1915 £136,750 4s i sd. The amount paid to suppliers in 1911 was £80,306 5s Id. in 1912 £95,774 3s sd, in 1913 £104,&56 18s 4d, in 1914 £104,660 13s 2d, and in 1915 £104,235 UsSd. Tho adoption of tho report was tiiianihiouslv carried. Mr F. Pearce suggested that the dairying industry in New Zealand should form an association to regulate the Home butter market, and regulate the supply of butter. There was no bette.- butter, he said, than New Zealand butter, yet it commanded a comparatively low price. The Central was one of the leading companies, and should make a move in this direction. The chairman, in reply, said that there were already in existence two associations. Ono in the North Island and one in the South. The North Inland Association was trying to get control of tho Homo butter market. The idea was certainly a good one. but the attitude of Tooley street had to be considered. Messrs J. Spenco, J. Parkinson J. Barnett, G. Ronnie, E. Lord, and J. P. W. Lee, the retiring members of the Board, were re-elected, and the meeting concluded with a vote of thanks ! j to the staff for tho past year's successful work.