WEST COAST REFRIGERATING COMPANY

Hawera & Normanby Star, Volume LXXIV, Issue LXXIV, 21 August 1919, Page 3

WEST COAST REFRIGERATING COMPANY

! ANNUAL MEETING, j The eighteenth annual meeting of shareholders .was held at Patea, when there were present: Messrs A. C Pease (Mangatoki) chair, J. R. Corrigan (Hawera), A. C. Johnstone and X Walsh (Jolls), D. J. Williams j (Meremere), A. Pearce (Kakaramea), J. S. McKay (Riverdale), T. A. Bridge (Kaupokonui), and W. H. Southcombe (whenuakura). I DIRECTORS' REPORT. The directors' report was as follows: The past year is one of the milestones in the world's history, marking as it does the conclusion of the greatest known war, with a victorious peace to the British Empire and her Allies, and it is to be hoped that the world will speedily settle down to the serious buisness of making good as far as possible the ravages caused by war and the consequent disorganisation of trade communications and business generally. The company has been fortunate during the past year in having ample cool storage space for its shareholders' cheese; some idea of the work undertaken during the war oeriod can be gathered when it is stated that in 1914 the total cheese storage space at Patea was for 16,650 cases, whereas at the present moment, including Kaupokonui and Mangatoki store, there is provision for 186,000 cases when stores are stacked full, or 167,00 Cif stores stacked openly all lines in graded order. Deducting the temporary stores at Hawera, Kaupokonui, and Mangatoki, there still remains at Patea and Hawera a storage capacity of 99,000 cases when stores are stacked with all lines in their brands. It is considered necessary by youi- directors to write down the buildings erected during the war period; owing to the high cost of material it is not advisable to carry them at cost price as assets. A dividend of 5 per cent on paid-up capital is recommended to be paid from profits. The staff as a whole has had a very strenuous time, as owing to no casual labor being available they were called upon to do all the loading and unloading of the coastal steamers outside the ordinary work of the store; this at times meant long continuous hours per day. The new store at Hawera is now practically completed and ready to take in cheese as soon as necessary. The following are the amounts of produce handled during the year, compared with the previous year (the figures for previous year appearing in parentheses) -. Cheese—ln store at commencement of season, 74,154 cases (36,601), increase 37,553; received. 175,375 cases (166,543),, increase 8832': total, 249,529 cases (203,144), increase 46,385; shipped, 149,878 cases (128,----990), increase 20,888; in store at end of season, 99,651 cases (74J54), increase 25,497. Butter —In store at. commencement of season, 7593 boxes (2831), increase 4762; received, 9065 boxes (10,021), decrease 956; total, 16,658 boxes (12,852), increase 3806; shipped, 13,122 boxes (5259), increase 7863; in store at end of season, 3536 boxes (7593), decrease 4057. Comparing this season's tonnages with last — Gross tons handled, 20,625 (16,832), increase 3793. In moving the adoption of tbe report and balance-sheet the chairman said that they wore thankful that they were meeting this year under happier conditions than last year. They could look i forward to happier times in future, although? they must expect some industrial unrest after such upheavals as weie occasioned by the war, before times became normal again. If, however, they all stuck together there was no reason why they snould not get through all right, l'he past year had been historymaking in the daily industry: there was the war. and after that the epidemic, which was a serious thing for the whole country, but in spite of all this the company had a prosperous year, and he congratulated shareholders upon xbat fact. Last season the directors set out to increase storage and give shareholders accommodation for their cheese, and he thought they had fulfilled that undertaking. The" Hawera store was practically completed; one room was ready, and one was nearly finished, but it was undecided yet what they would do with the front room. That all depended upon shipping. The secretary had prepai-ed a report which, together with the bal-anuce-sheet, would cover the whole position. It was as follows:—The past year has been in many respects similar to the year 1917-18,' entailing a considerable amount of anxiety to the manage-/ ment and dhectoi-s as to Ihe wisest course to i>eisne with regaixl to expenditure on buildings and plant arranged for before the armistice was signed. Owing to the unceitaihty of shipping arrangements it was decided to complete the building programme with the exception of the front portion of the new Hawera store, which has not yet been insulated and will not be completed if it is found that it is not required : it has been built with a lire-proof isolating wall, so that the front portion can be sold at any time that this is deemed advisable. Workmen's Houses: l'he Company found it was sound policy to acquire houses suitable for some of its employees, and purchased three in Patea and two in Hawera. Buildings: .The recently erected concrete stores at Paiea aud Hawtra are a fine asset as \ cheese stores; timber has been eliminated, which makes these stores most suitable for long storage of cheese. There are no ciacks and crevices, as in the case with timber lined rooms, to harbor mites. Shipments Home: Up to Jane 30th there: was a decrease for the year for the total number of cases shipped of some 10,<X)9 over the season 1917-18, but allotments made srince will easily rectify this, and it is anticipated that most of the season's cheese will be shipped hy the end of October or the beginning of November of this year. Additions to pbint and buildings during the year have been made to the value of £27,500, which iracticaliv now gives shareholders storage for a full year's produce. Labor Unrest: Itis to be regretted that all over the world there is a spirit of unrest with often recurring stoppages of industry which may have a material bearing oil future transport facilities l>v rail and sea so that it is quite within the bounds of reason that all the available storage may be required, should at any time more serious transport trouble arise There i s no doubt that the whole question of co-operation ot Capital and Labor is in the melting pot and it will only be by wise guidance and coming together amicably of all parties interested that this critical time will be overcome It? should, one would think, be manifest to any man of average intelligence that higher wages must go hand 'in hand with increased output, that the suicidal doctrine of restriction of outnut and increased wages can only have a disastrous ending foi the Dominion as a whole. We have to record, in this connection, the loyalty and co-operation lof all our employees, and trust that these happy relations may be maintained Mr Corrigan seconded the motion. , During an informal discussion the _ chairman considered that part of the Hawera store would always be required Hawera was, a growing' town, and a L« little refrigeration space there in the 'J summer time would tome in v.ry wel' I The directors had to i-'top . v.-.oik.'in; the

» j front section of that building because I. ot unrest amongst the workmen. They considered it best to shut down work there temporarily, the manager bein~ coniidenfc that should this extra storage be required it would not take loiio- to complete this last room. The present intention was to remove the machinery iron, the Winter Show building into the new store, so that the one staff could work the whole plant. If shioping again became bad they had always'the Winter Show building to fall back upon; they had an option over those halls for another thi'ee years. In reply to a question, the manager remarked that the carry-over at June 30 was 99,000 crates, an increase of --9.000. To-day it was 66,153 crates including Patea, Hawera, Mangatoki' and Kaupokonui. They had the toi lowing allotments for August and September: Per s.s. Napier, August 27, 15,----(XX) carcases; Victor, September 4 9000; Matatua, September 5, 8000-' Opawa, Septembei 8, 8000; Durban, September 15, 10,000; Essex, September 15, 7000, and Waiwera, September 19, 7000. The difficulty would be to get the stuff to Wellington in time; in fact it would be impossible to do so, and he had written to the National Dairy < Association pointing this out, and stating that some of these allotments would have to be dropped and taken up again < on later boats. The Kapuni would lose 10 days whilst being overhauled on the Wellington slip, and as soon as she came off the Hawea had to go for her ] overhaul. The Waitangi and Waverley were fully occupied carrying meat. However, it was expected that the whole of last season's cheese would be got away some time in November. Mr Corrigan: It looks, then, as if the new store in Hawera will be suificient? The Managw: Yes. Mr Corrigan: A few months ago it looked as if we would require the lot, ,' but I don't think we are likely to get as many boats when all the 'men are back. Mr Grainger: There were 42 boats , short on the Australian trade. Meat ' was more congested than the dairy pioduce. In reply to a question Mr Grainger said that the estimated income tax was £4000. The Act would not allcw them ' to deduct for the heavy depreciation * written off, but representations would ' later on be mad? to the Commissioner on this matter. \ Mr Williams considered it only right. ' that allowances should be made, as a j great deal of this work was only for < emergency purposes, and it was for the good of the country generally that they were undertaken. . Mr Grainger further remarked that since the balance-sheet was made up the I , company had put another £1000 into J Government inscribed stock, bearing interest at 4^ per cent, free of income ] tax. 391*3 was the biggest venr the company had, when it handled 197,647 < crates of cheese. Last year the total < was j 75,375. Mr Corrigan reminded the meeting that last year Hawera and Normanhy ■ both sent some cheese to New Plymouth and that might account foi- some of the decrease. The chairman said that if* the season moved ravorable there would be a big increase this coming year; there would have to be. Mr Corrigan: No doubt interest and rents will lw larger. Mr Williams: They will have to do something to make it up. Something will require to be done with £100 an acre for land. . \ The motion was then put and carried. Ou the motion of Mr Johnstone sec- ' ondeel by Mr McKay, it was decided to pay interest at the rate of 5 per cent., as recommended. This will absorb £1619 17s 4d. * | The chairman said that interest for last year had not yet been paid out. I They were working on profits last year. and had to save a little that, way.' The 1 two amounts, totalling £2400, would now have to be paid together at once. The two retiring directors, Messrs A. C. Pease and T. A. Bridge, were re- | elected unopposed. Mi- E. C. Homer was re-elected audi- v tor at a remuneration of £15 15s, the vouchers to be audited quarterly. The chairman's honorarium was fixed ■ the same a s iast year, viz., £100, and . the directors' bonus, £20, was also agreed upon as formerly. The manager suggested that the company should consider a superannuation scheme few its employees. He understood that an amendment to the existing Act was be.ng .prepared permitting private companies and private- employers to adopt a superannuation scheme, and if this became law he considered it would be a good thing for the, company to consider. During a brief discussion the opinion was expressed that it would be in the I company's interests to inaugurate a . i-uperannuatiion scheme; it would make employees permanent, and show them that the company took an interest m their welfare. On the motion of Mr Pearce, the matter wa s referred to the directors, I with power to act.

At a subsequent meeting of directors Mr A. C. Pease was re-elected chairman. It was resolved to vote a <sum of t'SU) by way of a bonus to the manager and_«taff in appreciation of the loyal services rendered during the past year.