DAIRYING.

Feilding Star, Volume VI, Issue 1674, 19 December 1911, Page 4

DAIRYING.

ANNUAL MEETING OF THE RONGOTEA COMPANY.

The seventeenth annual meeting c.i shareholders of the Bongotea Dairy Company was held yesterday, Mr li. H. Hunt- presiding.

The annual report stated: — The early paTt of the season gave promise of one of the most successful years we have had, but unfortunately the supply decreased owing to bad weather conditions, and although prices ruled high they did not compensate for the decreased output. The receipts for butter are £2206 less than 1909-10, and the amount paid iO suppliers is reduced in proportion. We trust that the new year will prove hetter than ilie one just closed, and will Jhelp to recoup to our suppliers some of the loss of income sustained by them. Owing to the unsatisfactory condidon of the factory building and the increasing cost of repairs necessary to keep it in order, your Board decided :to build a new one. Before undertaking the erection of a new factory it was decided to send Messrs Hunt, Perry and Madiieson to inspect some of the newer factories in other districts, and after receipt of their report it was decided to call for tenders for a brick and concrete building. The factory at Paeroa was favourably reported upon, and we decided to employ the same architect, Mr E. E. Gillman, Paeroa. The successful tenderer was Mr F. Potts, Cambridge, the contract price being £2550 the total cost was increased to £3322 by the addition of a tiled roof, Architects fees and extras, this latter item appears to be inseperablo from a building contract. Additions to tho plant- and machinery wero also necessary and the question of effecting a saving of fuel expenses was considered by your board. A suction gas plant was recommended as the best and most effective means of reducing fuel expenses. It was therefore decided to order a Tangye suction, gas plantThe cost of same is not included in this year's balance sheet. We think members will agree with us that, the factory, as completed, is a credit to all who have had to carry out- die work. Special credit is due to our factory manager. (Mr R. M. Matheson) for the help given to the board in deciding upon the hest place for the new factory, and in the erection of the plant and machinery in the new building.

The company has a building and plant second to none at present in the Dominion, and one that will serve us for many years to come. The balance of die profit a-nd loss account is £533 19s 7d, and we recommend that it be divided as follows: Payment of a 6 per cent, dividend on all paid-up capital; a bonus of 1 farthing (\d) per lb. Ob butter-fat supplied by members holding shares in the capital of the company, in accordance with articles of accosiation, and that the balance bo carried to the reserve 'Account. The average advance to suppliers for butter-fat was 10.8075 pr lb- with the addition of a bonus the total payment will bo over lid per lb. The following are the advances during the sea- :■-:■■ 1910-11.— September, 1910, 11-> ( d ■ v-t'yhp,- i9io. to April, 1911, 10U1; Hid: June, 1911, 10kl; v a.d August, 1911. ls 2d.

In moving ihe adpotion of the re- '■> i and balance sheet, the Chairman explained that tlie delay in calling the annual meeting was due to the illness of the Secretary, whom he was sure they would all be pleased to see restored to .health. The past- year would be one to remember for two important tilings, tlie chief of which was the erection of tbe new factory, and tho other was the- long dry spell, which had affected the milk supply considerably. Receipts were less than last year, but taking all things into consideration they had come out fairly well. The past year had been a strenuous one, and the Directors had had weighty problems to solve, but they had done, iheir best in. the interests of the company. And if suppliers would adopt the (recommendations of the directors a good time was ahead. They ihad received invaluable assistance from the Manager in selecting a site for the new factory which was second to none. It- remained now for the suppliers to be loyal and stick to the company. He referred to certain disquieting rumours which required consideration. Outside companies were thinking of establishing cheese factory, and he pointed out that it would be unwise of those who had co-operation at heart to supply proprietary concerns. The question was more important than many thought. They should remember that the Company had spent a large sum of money on their interests, and if cheese factories were encouraged they would not bo able to pay out best prices for butter fat. He concluded this remarks by urging suppliers to form a herd testing association. He knew there were some opposed to it, but >t_e matter was well worth considering. Every supplier wanted to get the maximum supply of milk, and the best way to do that was ito test and cull out the culls. The. report and balance-sheet were unanimously adopted. Mr G. J. Scott was elected auditor and Messrs W. Darragh and F. Botteher reelected directors. Mr C. AVatkins gave notice of motion, "that voting -by proxy be abolished." Some discussion ensued as to the advisability of closing the financial year earlier, in order than manager and secretary would have a better chance to make necessary arrangements and also that shareholders would not have to attend a meeting in the busy season. The Chairman explained why the date should not be changed. He stated that if they closed ■tlheir year earlier they would not be able" to show suc_ good returns. A large amount of

butter would be in cool stores unsold, and they could only arrive at an approximate estimate of what their return us were. Changing the date would mean considerable expense, and he pointed out that for 17 years they had had no trouble.

The matter dropped, and the meeting closed.