SMALLEST MEETING

Gisborne Herald, Volume LXIX, Issue 20837, 16 July 1942, Page 4

SMALLEST MEETING

KIA ORA DAIRY CO. BONUS OUT TO-MORROW The annual meeting of the Kia Ora Co-operative Dairying Company, Limited, held in the MalcarakaMatawhero Hall to-dav, was attended by the smallest number of shareholders for many years, only about 40 shareholders being present. Reviewing the year’s working, Mr Doyle said that the final payment cheques were to be posted to-mor-row. , . "The result of the years wonting is very satisfactory ” Mr. Doyle said. “The increased costs, which amount to . 155 d per lb butterfat. would have been only .07d if the output had been equal to' last season’s. An increase in output would have reduced the cost per lb butterfat on cream cartage. wages, fuel, depreciation, repairs and maintenance and overhead charges. The factory, which is equipped with uo-io-date machinery and kept in first class condition, is capable of ’manufacturing up to 2000 tons of butter without any additional expense either in plant or overhead expenses. The company's fleet of 10 motor vehicles could cater i’or such an increase in output. “The following summary showing the monthly percentage, increase or decrease, as compared with corresponding months the previous season, will indicate how production fluctuated during the season: June, 54 per cent increase: July, 12 per cent increase: August, 1G.2 per cent increase; September, 8 per cent increase; October. equal: November, 2.2 per cent decrease; December, !) per cent decrease; January. 3 per cent decrease; February, 2.4 per cent decrease; March, 1.3 per cent decrease; April, 32.5 per cent decrease; May, 51 per cent "decrease. The season closed nearly two months earlier than usual. High Butter Grading “The average grade of the company’s butter was over 94 points, which ranks as very high. Only' a small number of factories with an output of over 1000 tons have reached this high level. Suppliers are to he commended for producing highquality cream. We have received over £IOOO in premium for butter which graded 94 points and over. Needless to say, we desire all concerned to maintain, and if possible, improve the quality of their supply. Messrs. McKenzie and Gabolinscv, I'a'rm dairy instructors, have greatly assisted suppliers in this effort for high quality cream. "In the n'ew system of payment by Ihe Government for export butter, the Government pays the dairy companies after the butter has been in store approximately two months. Storagb charges are limited to two months and thereafter the cost is met by the Government This arrangement has resulted in a reduction of storage costs and interest on overdraft. “During the year we made loans to suppliers amounting to £9025, as compared with £10,478 last year. Repayments have amounted to £11,043 as compared with £14,220. The amount oh loan throughout the year has been approximately £4OOO less than the previous year. !“Thanks of the shareholders are extended to Mr. W. J. Lee, of the Department of Agriculture, who in his capacity of dairy produce grader aftcl factory supervisor at all times Willingly undertakes to assist our factory manager and staff with any problems of the treatment of cream and manufacture of butter that may arise. Mr. Lee also makes regular visits to the factory for the purpose of check-testing suppliers’ cream. Mr. Ljee always carries out his duties in a [air and impartial manner.” AH Butter Dispatched ■The chairman added that the guaranteed price equalled 14.89 d. per lb butterfat and the company’s pay-out was 15.09 d., and with 3 per cent interest on shares added the payment equalled 15.74 d. There was no butter in stock at present except an amount for local consumption, for production was too low to cover these requirements. Local sales and cream sales had increased on last year. The ebst of production had increased mainly in wages, and materials and Riel,-combined with the reduced output. He added that suppliers appeared well satisfied, and be had not found one who had “put up a grouse.” “We have got all our butler away, and we owe a great debt to those who take it away from our shores,” said Mr. H. F. Robb, who urged that the meeting should pass a vote of deepest appreciation with Ihe merchant searpen. The meeting adopted this .proposal. At the opening of the meeting, the chairman expressed sympathy with .those who had lost members of their 'families in war activities, and on his invitation the meeting stood in silence as a mark of respect. The chairman also expressed sympathy with those who were wounded or missing. The chairman added that several members of the staff were in camp and others were awaiting their calk The retiring directors, Messrs. J. Davenport, H. M. White, and H. F. Robb were re-elected unopposed. Messrs. Graham and Dobson were reappointed auditors. The chairman’s honorarium was fixed at the same sum as last year. The chairman commented upon the valuable work done by the factory and office staffs during the season. All bad co-operated in making the company’s season so successful.