RIVERDALE DAIRY FACTORY.

Hawera Star, Volume XLVIII, 19 August 1924, Page 6

RIVERDALE DAIRY FACTORY.

* ANNUAL MEETING. There were about forty suppliers present at the annual meeting held at the factory yesterday, Air. J. S. McKay (chairman of directors) presiding. After the confirmation of the minutes of the last annual meeting, the report (previously published) and balancesheet were adopted. In moving the adoption, the chairman briefly reviewed the operations of the season, general conditions and the prospects for the coming season. He said that they could be congratulated on a successful year. deferring back to the previous season, he said that the figures showed a pay-out- of Is 83d, and the proceeds of 3143 boxes of butter held in London and valued for balance-sheet purposes at Is 2d allowed a further pay-out of ls'4d, making Is 9d for the season. This year’s figures show a pay-out of Is 6d, and after realisation of crates unsold and balance brought forward, there would probably be a further Is 2d. Referring to the supply, he said that there had been a slight falling off for the season, as compared with the previous season, which was somewhat abnormal. The year had been a difficult one from a directors’ point of view, whether to make cheese or butter and when to make and when made whether to consign or to sell. During the season past offers were received to buy cheese up to the end of October, but with the condition that all the rest of the output wentthrough the same channel. From information received, as cheese was on a par with the price offered, it was considered that the price would be at high level for the early months. Unfortunately such was not the case.

and though a proportion realised 100 s to 110 s, those who sold were apparently slightly better off. The season ahead looks likely to he a cheese season, but if butter should be likely to go over 200 s probably butter .will be made. Tie said he was convinced New Zealand was destined to be a cheese producing country, for one had only to look back at, the immense amount of butter Siberia- used to produce and export to Britain previous to the war and bow the amount dwindled during the war, when be must realise that Siberia would lie a serious competitor in blitter, and in conjunction with Australia and South Africa and also the Argentine. it was worth notice that none of these countries produce cheese in any quantity. Towards the middle of February cheese was falling rapidly, six months shipments being dumped on the English market under two months. The directors then decided to hold, and the decision was justified by subsequent events. With 130,000 crates off the market the price fell to 82s, and it is probable that had this gone on the market the juice would have fallen perhaps into the seventies, and the speculator would have .had a good time. They did not lose by holding, and had the cheese been held* in proper cool storage as is known in the Dominion, that is air circulated storage, he was convinced that they would have been able to- hold at 925. As it was more than hall the stored cheese was released, and it soared in a week or two' to 925, proving that the speculators were at work. The holding factories, he added, benefited the°rest. Just such a. season, said Mr. McKay, convinced them of the need of control at- Home over the cheese. He was glad tiie control Board was an accomplished fact, and was sure that good effects would soon be seen A onnnA ears a "° with the export at -0,000 tons it was not so important, nut now with the figure up to- 73,000 tons, unless it was controlled the position would not improve. Regulation or slapping was an important factor in the business. He instanced that last January 46,000 crates reached England and in February it was 264.000 'tons, [supervision was urgently required. He mentioned the proposal to raise the grading points for first-class from 88 fc .° 90. The proposal emanated from Auckland, and it actually affected butter more than cheese. If a com pany refuse to take supplies they would go to a proprietary concern, and this indifferent cream was havinoan effect on the quality of New Zeio land butter. This was proved by Mr lUhson s report from London. He referred to the increasing use of neutraliser to counteract the flavours and said this affected the quality of butter ■With cheese it was not so marked, and often second grade- cheese was placed first at Home and that keeping seined to alter the texture of the cheese. The raising of the points would affect Rivcrdale- only to the extent of about one per cent., for only that- proportion was under 90. The South Taranaki factories had shown strong oppo.sitiou. The manager had difficulty in the beginning of the season through difficulty in get tin «• effective starter. He also referred briefly to pasteurisation, and said that many factories would be forced to mstal pasteurisers and better boilers In this district the umveleome flavours were due not so much to duty milk, but were feed flavours due to the rapid growth of pastures in the spring. 1„ regard to the store, he said that stocks were written dm.n to bedrock, and he was conforTli l o '' 0 V ' a r a -T 1 time ahead ioi the store. In conclusion, he drew attention to the good work of the manager and staff, by which the tost had been raised by .22. and the yield uas 2.i, the -same as last year. There had been a consistently good »rade and bp congratulated the staff on the Ksu Is. Mi McKay then traversed tug figures, showing, inter alia tlnr a profit of £|()2 h;K | boon niado } purchase of shares at Ids and sale at -s, that store stocks were down a g°od deaf; that, in the working ao-c-oum. repairs and renewals were increased, as it was the policy of the hoard to write oil liberally; oeoan Heights had increased a little and exchange ami London charges verv materially.

Mi-. J. Y\ T . Stiowflon seconded the motion. In reply to questions. the chairman >aid they worn now tnkinsr in minnlioof cream on the basis sot , )iIL |,v Mr Duncan. of the Hawova Dairy (\." aroordiUK to 1 ho prices roalisod'at Tlomo deduonn.o: ;id ,;or ib for cost of ,uan.i.‘ YV n . C - ' on Iho fio-uros Oi lasi year camp to Is d.ffd. Ho sa id v-'r C| ," e r(r on u of h ?! np - o P a rated cream vas a d i 111 on It problem, bill, ho far they Had bad only one supplier. He could " lia( the int lire would bring , fn J,p PI.V lo Mr. S. Washer, the c PP . l-el ary said I hat London charges inP»hl in London, landing, commission, account sales interest. rent and storage. Dumm the heavy t lOS ° 1,:Ul b ° en I'^cembugly ,/ 11 , to <> Mn lenient hv a sunplier that it would have been hotter to store m Palea. the chairman said it was so, and .f they had known then n luit they know now they would never have stored, for proper cool storage was not available in London -'li-. .Snowdon said that were likelv to lose the one supplier; of cream uii-

loss they could assure him that he would get as good returns as any other concern, and he considered they wanted to do everything possible to keep all suppliers. In reply to' Mr. Duggan, the- chairman said he did not know why suppliers should leave unless they thought they could get better terms from the proprietary concerns. They should realise they got everything that- there was in the milk supply. Air. El. A. Washer said he would like to explain that, as he had been called the father of home separation, he had nothing whatever to do with any outside company, and, in fact, that two years ago it was on record that lie had a committee set up to get all possible information. Air. F. Livingston said he considered the dairy companies had too many interests in allied concerns such as the Bacon Company, Shipping Company, and the Box Company. He considered they were paying too much for their boxes. ‘ ' The chairman replied that the Box Company had to keep millions of feet or timber ready -» iT supply vne companies and was a great safeguard to them. Air. Lee said lie considered they could import timber and make cheaper boxes. lit reply to a question, the chairman said that the inspection expense was a share of the total incurred by several companies acting in co-operation. He considered inspection was absolutely necessary, and that the high grade secured was due largely to his work in conjunction with the manager. Air. Thrush said lie was against inspection all the time, and considered it unnecessary. In regard to a question re the value of high grade, the secretary said that butter was always easier to sell at a high price when graded to 93 than when below that figure. Dealing with the Control Board, the chairman said they were not yet operating, but were now at- Home making inquiries into the whole business, and he was quite convinced the companies would reap a great benefit from their investigations. Tll regard to fuel, lie said that prices had gone up, but Riverdale had a lesser cost per lb of fat than many others. In reply to Air. B-ainie, the secretary said that stocks had been written down very severely from the war-time figures, when they had to take wliat they could get, and were now in such a position as to call for favourable comment by the valuers. He was convinced that now they had come down to bedrock, there was a good time ahead, and that few stores had done so well. He said further that interest figures were worked out on the monthly averages. This concluded the discussion, and on being nut the motion was carried unanimously. Auditor.—Air. H. A. Lennon was reappointed at the same remuneration as before. Directors.—Messrs. J. S. McKay and ,T. S. Short were re-elected. Mr. W. Auton was also nominated The voting was as follows: J. R McKay 180. J. S. Short 117, W. Auton 98. ft was resolved that the chairman's nonorariurn be the samo as last- year. The chairman said he always gave the | very best that was in him in" the interests of the factory, and he would bo pleased to give the same ‘.service always. Air. Short- said he always did his best, and in the matter of price he was; always out to get the very best that was possible. Mr. AfeKav said he was of the same opinion. He was neither a consignor nor a, seller, but wished always to get the best for the company. Air. Auton said that he was out to do his very best in the interests of the company, and he congratulated the directors on their re-election, \ otes of thanks to- the press the manager and staff, whose* wort,’.said le chairman, were a real credit, concluded a good and enthusiastic 1 meetAfter the meeting light refreshments were served by the ladies, and 2" the P ™ otl ? n Mr. Short a hearty vote of thanks to them was carried bv . acclamation. y :