KAPONGA DAIRY CO.

Hawera Star, Volume XLV, 25 August 1925, Page 10

KAPONGA DAIRY CO.

TWENTY-SEVENTH ANNUAL MEETING.

A RECORD SEASON

The twenty-seventh annual general meeting of shareholders, of the Tvapomni Co-operative Dairy Company. Ltd" was held in the Kaponga Town flail to-day. Mr A. V. Tait (chairman of directors) presided. The report was as follows: In presenting the twentv-seventh annual report and balance-sheet, your directors have pleasure in congratulating shareholders- on the result of the past season’s working. The amount of milk and butter-fat handled during the year was the largest since the company’s inception. Correspondingly, the quantity of cheese and butter manufactured constituted a record output. Payments made on account of butter-fat to date of annual meeting comprise: to butter suppliers Is 6d (final), to cheese suppliers Is Bd. which must he considered verv satisfactory. The customary dividend on paid-up capital is recommended for distribution. The retiring directors are Messrs W. E. Holjard and P. Thoumine. who, being eligible, offer themselves for re-election. Statistics presented gave the following details (1923-24 figures being shown in narentheses): Milk received. 24,581,ROOlhs (22.647.2841h5t; butter-fat. 982.-78-11 hs (903,0701b.5): average test, 3.99 03.97): output, cheese and butter. 1128 tons sewt GOlhs (1073 tons Ocwt 881bs): rost of manufacture to f.o.h. Tier lb butter-fat. 4.H8. Used for cheesemaking.—Milk, 23.145.101 lbs ('22,030.5751b5) ; butter-fat. 917.2361bs (872.0261b5); lbs milk to lib i-heese, 9.37 (9.54); average test, 3.96 f 3.95); cheese output, 1067 tons 6cwt 561bs (1029 tons s°wt 731bs); yield of cheese from each lib butter-fat used. 2.691bs (2.641b5). Used for buttermaking.—Milk, 1,436.5901bs (616,7091b5); butter-fat, 65,5481bs (31,0441b5) ; lbs milk to lib butter. 19.00 (19.00); lbs whey butter to one ton cheese, 45.5: average test, 4.44 (4.66): butter output—starter 4 tons 1 cwt 321bs. whev 22 tons 4cwt 261bs <27 tons scwt 721bs), creamery 34 tons IScwt 581 he (16 tons Ocwt 55lbs); yield of butter from each 11b butter-fat used, 1.1851bs (1.8881hs). CHAIRMAN’S ADDRESS.

In moving the adoption of the report and balance-sheet the chairman made reference to the fact that the past year constituted a record for the company in point of quantity of milk handled, which was evidence that the company was steadily forging ahead and receiving the confidence of an increasing number of suppliers. “As you will be aware,” continued Mr Tait, “prices during the past season have l>eei) generally good and remarkably free from much fluctuation, and the return to suppliers is accordingly a profitable one. Some time since it was announced that the payout would be in the region of Is Bd, and I am sure suppliers will appreciate having already been paid that amount and our continued promptitude in disdistributing bonuses/ which placed that sum in suppliers’ hands so soon after the termination of the season, with several shipments still to he disposed of, and without the uqdue delay that suppliers to some companies, lacking our financial resources have to -suffer. No doubt you will lie able to recall my remarks on the subject of home separation at the last annual meeting. The past year has seen them amply confirmed .and some are sadder and wiser. I onlv wish to add one thing to what I said then, and that is: that if any supplier should be determined to he blind to his own interests and go ‘separator mad.’ that we are always prepared to take his cream. and guarantee him as a minimum price the maximum price paid from time to time by any' proprietary concern operating in this company’s territory, and ho pleased to do it. Jt will pay us handsomely to do so. This is our standing offer, and- we want every supplier to get it quite clearly.”

CIURREXT SRASON’S ADVANCE. Rk-f'eniing to the c.urreinfc season 's output, the chairman said that after mature consideration the directors had decided to consign with certain guarantees which would warrant an initial monthly advance of Ls 9d, further payments being distributed in the usual way as they accrued. He then dealt at some length with the question of yield figures, giving informative particulars a.s to it'lie various ways these were arrived at, and .stressing the pci nit that the acid -test of the value of the information conveyed by statistical figures, was whether or not the extra, return they indicated as having been achieved was forthcoming to the suppliers in the form of hard crush. Fnfortunately they would not always .ijta.n,.l up to this test, which was disappointing fo,- the i-aippliers concerned.

Quality was also touched upon, the minion being expressed that if the Control Board pursued its announced intention of pooling the returns for all New Zealand produce and distributing it it .' the various companies on a basis of grade, the companies in turn would be obliged to pay the .supplier on the Kami© LiV-ibs, and the latter would do well accordingly to put tiheir house in orcle.-' against such an eventuality. “1 do not propose.” continued the chairman, “to make any comment,'-; on the ba'amie-sheet figures beyond saying that it will he seen that the company’s financial position has taken an- • itlie •• very satisfactory stride forward .'tiring the year, and the working costs compare very favourably with companies better placed than ourselves for economical operation.” '1 Ihe rewialndier trf 1 , the chair man’s address being devoted to an explanation of the company's position regarding the hydro-electric works—a nvoter which he eimpliaeised was of no cmcern to shareholders tts milk suppliers, and concerned only the indiv.l W\!« who were on the, joint and seveiall giunranteeing the company’s ,vi, ■, i 'lint. ; t the bank. This portion of a.di'bee?. is reported elsewhere in tihiis issue. The motion to adopt the report, ancl balance-sheet was seconded by Mr G. B. Hill and carried without discussion. The meeting is proceeding.