Heretaunga Dairy Factory Co.

Hastings Standard, Issue 323, 15 May 1897, Page 2

Heretaunga Dairy Factory Co.

ANNUAL MEETING. The annual general meeting of the Heretaunga Dairy Factory Company was held this afternoon in the Council Chambers. Present—Messrs C. A. FitzRoy (chair), H. Campbell, G. Ebbett, R. Wellwood, J oil, Whibley and Triggs (manager) The Chairman read the following report:— Fourth Annual Report, Gentlemen—Your Directors halj/o much pleasure in placing before the the annual report and balance-sheet to the 31st March last, and it is a matter for congratulation that the financial statement shows a profit of £142 7s lid, after extinguishing the debit balance of .£296 16s Od which was shown on the statement of 81st March, 1896. Your Directors recommend that the surplus of .£142 7s lid be disposed of as follows: —By paying a dividend on the paid up capital for the last six months of the financial year at the rate of 5 per cent per annum and carrying forward the balance to capital account, viz.:— Dividend £f>7 0 0 Carried forward ... £BS 7 11 £142 7 11 Since the last annual meeting your Directors have been compelled to close the creamery at Olive and the plant has been removed to ihe factory. Your Directors anticipate that owing to the late disastrous floods the business of the company will be materially decreased during the coming winter. The amount of milk received at the factory for the last six months was 117,943 gallons, which made 48,2831b. of butter, equal to 271b. of milk to the pound of butter. The total quantity of milk received during the last twelve months amouuted to 172,610 gallons, and the sum paid away for this milk is £2128. The retiring directors are Messrs J. N. Williams, T. E. Crosse, and R. Wellwood, all of whom are eligible for re-election. Your directors are pleased to be able to state that the butter from this factory continues to hold the good name which, under the able management of Mr Twigg, it has always done from the commencement of the business. The balance - sheet, audited by Messrs R. Brathwaite and W. Beilby, showed a credit balance of £142 7s lid. In moving the adoption of the report, Mr Wellwood congratulated the company and the district on the progress made. Mr Whibley seconded the motion, and the report and balance sheet were adopted. Messrs H. Campbell and T. Crosse were appointed to operate the bank account. The retiring directors, Messrs Williams, Cross, and Wellwood, were reelected. It was decided to pay 4d per gallon for milk for the quarter ending 81st August. A recommendation was made to the directors to move in the direction of appointing an apprentice at the factory for the purpose of the business and assisting the manager. This concluded the business.