AWATUNA DAIRY CO.

Hawera Star, Volume XLV, 28 August 1925, Page 10

AWATUNA DAIRY CO.

• ANNUAL GENERAL MEETING. The 01st .annual general meeting of shareholders ol the Awatuna Co-op. Dairy Factory Co., Ltd., was held in the Awatuna Hail yesterday. r l he attendance numbered approximately 90. .Mr E. A. Collins, chairman of directors, presided. ~. The annual report stated: The .-.■hole of the output for the season was consigned through Messrs A. J. Mills and Co., and realised satisfactory in ices. After allowing for depreciation, ‘„ere is a balance at appropriation account of £BOI3 Ls Id, or 2.57 d per J, l)uter-fat. Interest on paid-up capiat 5 x>ej* cent, will absorb £437 lls or ltd per lb butter-fat, leaving a balance ut £<576 os lOd, or 2.43 d per .!) butt, r-fat due to .suppliers. Stocks of ••.,oe«e sliioped and uiiso. d have been ,j* ; ken in at JOOs per cwt.. a c-onserva-.i.e figure. i lie retiring directors are Messi ” E. A. Collins. F. Tindle and T. I. Mildenluiil. who. being eligible, nt'er themseh es for te-c ection.” 'i'ne statistics gate the following de- . ii,s (figures for the 1923-24 season boi • in parentheses): ToLal pounds of milk received. 18,366,(if) 738.249) ; total pounds of cream received, 21,390; total pounds of butterfat (from milk 738.666), (from cream 7450). 746,116 (770.126); average tests —cream 34.829 per cent, mi k, 4.021 per

•cut (3.897). Used for Cheese-making.— Pounds ot ,iik 13.907,070 (19,157,220); pounds of mtter-fat. 569,175 (743.353); average 03t. 4.092 per cent. (3.880) ; commercial :kecsa made, 654 tons 14ewt Iqr 91bs 52 tons 12c-wt): pounds of milk to lit. cheese. 9.48 (10.03); pounds of cheese rmi Lib h itter-fat (gross), 2.642 2.035); pounds of whey butter made,

4 825 (4. ,801). Used lor butter-making.—Pounds of ails. 4,453,934 (601.029) :' 'pounds ol ■ream. 21,390: pound* of lnitter-fat (in ■ riilk 169,491) (in cream 7450). 176.941 20,768); average tests —cream 34.829 .er cent, milk, 3.801 per cent (4.453)Hitter made. 93 tons 16cwt 171bs (13 ons TOcwt) : pounds of butter made from Lib buter-fat. 1.1875 (1.1780). C M A I I IM AN ’ S ADD R ESS.

r» moving the adoption of the re port and ba'ance-slieet, Mr Collins gave further details concerning the season’s operations. The company had been sucessful i ntlie cheese market, the averpi ice of 97s bearing, favourable comparison with those received by contemporary companies. Rutter sales had averaged approximately 190 s. Concerning quality, favourable reports had been received from the agents with the exception of one small parceg and he had pleasure in drawing attention to the fact, that it was a report on Awatuna produce to which Mr Singleton (Director of the Dairy Division) had referred recently when explaining the standard to be sought after.

Referring to the Dairy Control Hoard, the chairman intimated it would shortly take control over the whole of the dairy produce in the Dominion. The result of this action remained to be seen, and while much objection to the assumption of absolute control and fears concerning the consequent difficulties to he met in pooling was felt in certain quarters, it had to be admitted that the board had already helped the industry by the it had effected in ocean "freights and insurance.

During the year a federation of South Taranaki dairy factories had been fo-meil. as one result of which a iahoiatow was being established in Hawera. This would give valuable opportunitv for investigation, with a view to effecting improvements in milk and manufactui in«- methods’. He was of the opinion that the laboratory would serve a very useful purpose and would move a benefit to the industry, though the directors elected to remain out of Mi" schmrm for the Present.

Continuing:, the chairman extended ■cngr-'tuln tioiis to the sreneral manager 'Mr .T. Flavin), who had achieved distinction through successes with show and had aho with an average of 92.43 maintained the highest avernue grade over the season at the Patea works. Out of 3294 crates made, at the Awatuna factory only 12 had been classed as second grade. A total of 5953 crates had been . jnade at the Tenngetara factory. Of this number 444 had been classed' as second grade, this being prinripHl" due to the fact that experiments lmd been carried out with the spring milk supplied there, the result being that the moisture eonfe”t bad been slightly excessive.

The company had been unfortunate in meeting with two reverses in respect of loans made to farmers, the amount involved being £BOO. A change in the secretaryship had been made during the year owing to the resignation in order to take up a new anpointment of Mr AY. R. O. Out or TOG applicants Mr L. Nieools had been appointed, and he was proving thoroughly efficient and reliable in the discharge of his duties and a worthy successor to the former secretary.

The motion to adopt the report and balance-sheet was seconded by Mr W. I). Graham. The meeting went into committee during a lengthy discussion relating to finance. A proposal to enable an addition to the season’s pay-out was made by Mr M. Bourke. who subsequently moved the following amendment :

“That the balance-sheet be adopted subject to an amount of £l7Bl 15s 9d, representing portion of the price of offices and plant charged to repairs and renewals account, being capitalised in order to allow an additional pay-out of ';<] per lb butter-fat to he paid over the period for which cheese was made.” Mr It. Holland seconded. On being out to the meeting the amendment was carried by 36 votes to 9. a considerable number refraining from voting. As the. substantive motion it was then adopted. BUILDING BY CONTRACT. Mr R. Holland asked what limit was placed on the directors in financing the building of the new offices. The chairman replied that no limit bad been made, but lie pointed out that the work authorised had been necessary and the expenditure was justified. The old premises had been unsuitable, ■ and the directors had realised that unless better conditions were provided they could not expect to retain the services of an efficient secretarv.

The possibility that the work might have been done more economically had it been let under contract instead of being done by day labour was stressed during further comment, though the chairman explained that the latter method bad been adopted as it gave the company more, control during the progress of the work and gave greater assurance that all requirements would be fulfilled.

On the motion of Messrs M. W. Barker and D. Hughes a resolution was carried instructing the directors to arrange contracts where possible for anv .future work involving an expenditure of £2OO or over. SHARE INCREASE.

In (accordance' with notice Mr. S. R. Farquhar moved: “That a deduction of one half-penny (Jd) per pound but-

ter-fa.c. be made on a. l l milk and cream sitp.piled to the company for a penocl j.; uve (5) yeansTloan l»c- August, 1925. ixi l>sb August, 1930.” lie expuuued that the proposed reducibioiii. would provide for the repayment', over a period or live years, of the advia'iiee to be asked of the bank. Sub.sequenc, however, to the framing of Uie notice of motion it had been ascertained that the bank wished shares for correispondi ng amounts to be &11>>oaited.

Mr. Smart suggested that the motion he amended accordingly, m the lorni ol a i ecoinniendation to the directors, who should then proceed to put che matter in'order. Mr Fai-quhiar agreed to die alteration and consented to withdraw the motion. After considerable discussion Mr. Smart moved: “That it be a recommendation to. die directors to make t he necessary ai rangements to increa.se die capital of the company to £20,000 a,ml to allot 90JO shares pro raita. on a buttei lat basis among suppliers in addition to their present holdings per share, and that new shaies be caUrsd up at a. rate not exceeding Ad per ib butter-i at .supplied by each shareholder per year. Mr. Farqu/ba'.r seconded and the modon was adopted. A further resolution was passed on die motion of Mr. Smart, seconded by Mr. Tindle, recommending that aaidcle .seven, .be amended by altering die basis of shareholding from 1051 b of butter-fat .supplied to. oOlbs ol but-ter-fat .supplied. ELECTION OF D'l RECTORS.

Four nominees—Messrs. K. A. Collins, F. Tindle, T. J. Mild< nlia.ll and J. G. Mash ray —weie proposed for election to the board of directors to fill the via'ea.ncies. caused by the red lenient, owing to effluxion of time, of che limb three named.

The bails).t resulted in -the election of Me.sisi's Mi,ldeal,hull, 'Tindle and Maeliray. On the motion of Mr. Mildenhatl a vote of thanks wins passed .in appreciation of the servicew rendered by Air. Goldins during the eighteen years, incliutllup; six j iiiais. ap thaii-ma.ii. in which lie had officiated on the directorate. Other direcjtona and. shurehold-e.-s. speaking in tennis of praise- concerning Air. God-1 ins’ loyalty to the company and his valuable work in its interesiiis, gave voice to the general opinion that lie merited the sincere thanks of all interested in the company. It was decided that the chiaurman s 1 ronorarium and directors' leers be the seine as previously. Air. H. A. Lennon was re-sip pointed auditor at the same remuneration as previously. On the motion ol Air. Allklenhall it wa.s decided that in future the annual meeting be held in the first week in August. . A 'resa'ution was ptr.issed clii-a.lowing proxy voting by “dry” shareholders at future meetings. Light luncheon was served by a lad(o,- r7-.jTitm.ititee consisting of Alesdames Collins, Tindle, Lonsdale. Graham and the Aliis.ses Farquhar and McCarrison, whoso conii teous attentions were greatly appreciated.