WILLS DAIRY COMPANY

Hawera & Normanby Star, Volume XLI, Issue XLI, 31 July 1920, Page 5

WILLS DAIRY COMPANY

ANNUAL MEETING.

The annual meeting of the Hell Co-operative Dairy factory Compan; was held yesterday. Mr C. J. Hawken chairman of directors, presided ove an attendance of between twenty an< thirty shareholders. The annual report was presented ai follows: Your directors have pleasun in presenting the twenty-second an nuai report and balance-sheet of th< company. Although the season openec with a bad spring, the autumn wae very favorable, and the output oi cheese shows an increase of 34£ torn over the previous season. After writing off depreciation, amounting to £601 6s Id (representing 7| per cent on buildings and 12* per cent on machinery), providing for payment of interest and directors' fees, the balance on hand will bring payments for the f asoILuP to Is ll^d per 1b for butterfat. The retiring directors are Messrs Campbell and Bell, who are eligible tor re-election, and Mr A. B. Catchpole, having sold his farm, will also retire. The services of Mr D. Campbell as manager have been retained for another year; also of the branch manager, Mr Scott. You will require to appoint an auditor. Mr Lennon is eligible for reappoihtment. The following particulars of the year s operations were appended • Pounds of milk received, ' 8,875,885 - pounds of butter-fat, 344,009.84' Cheese statistics—Pounds of milk fflS P°unds of butter-fat,' 66\),753.32; cheese made (410 tons 3cwt lqr 161b), 918,7801b ; pounds of milt to lib cheese, 9.55; pounds of cheese from lib butter-fat, 2.70; average test •fSi-PW centr cost of manufacture, 1.2 M; cost of manufacture (including depreciation), 1.37 d; cost per lb f.ob y;j; Butter—Pounds " of milk'! yy,177; pounds of butter-fat. 4256.52----27 3931b made (creamery and wney)> The chairman said that in moving the adoption of the report and balancesheet for the twenty-second year of working he had to congratulate the shareholders on another good season <ML* he ProsPec*s of a still better pne. The output for the season had been over 34 tons more than last year lins increase was attributable to the favorable autumn weather. With their buildings and machinery they were in a first-lass position. Everything was in good order, and a liberal allowance ~ad been made for depreciation. All buildings were now showing fairly low on their books. It was a recommendation to the directors at the last annual - meeting that a house should be Dut up at each of the factories for the manager and his assistant. One of these had been erected, and it was fortunate for them ttfat they had built when they did. Had the work been delayed the cost would Have been very much higher. As for marketing the coming season's output, he would be in favor of delaying action for a time. At the present time they did not know what might happen, but he thought they were going to get good prices for both butter and cheese. He was not in a position to express a decided opinion about the C.W.S., but it was probable that the scheme had been brought forward far too late to enable financial arrangements to be made for this season. He did not know, just yet what ': they had better do^ with their output. It- may be best to sell or consign, or li. m£ y w oen *? e adyisable to deal with the C.W.S. At any rate there was no S hurry, and they qould go on for an- I other month without deciding They had the statistics for the factory be- j i *>,*T em' ~They Proposed paying out ' Is 7|d per Ib for butter-fat, and they i had written 12$ per cent off machinery \ and 1\ per cent off, buildings, which I was-2^ per cent more than last year ! m each case. The payments to sup- I pliers were a little better than last year. As evidence of the good management of their factories, Mr Hawken pointed out that of 5700 crates of : cheese manufactured less than 50 were J second grade. This was very good in- ' deed, and the manager and staff were to be congratulated on the results * achieved.

m The motion was seconded and car- ' ried unanimously without further discussion. Messrs Herbert, Bell and Marsh were elected directors, and Mr H. A. Leiuipn was auditor a : t the old remuneration. • ' - On the motion of Mr Bell, seconded, by. Mr Bickford, it was decided to grant a bonus of £50 to the manager, and £25 each to th« assistant manager and. the secretary (Miss Beamish). . A resolution was passed authorising the payment of directors at the rate of £1 Is per day, and the payment of in-. te,rest on shares at the rate of 5 per cent. A brief discussion took place on the scheme for selling to the • C.W.S. The chairman remarked that thiey had all no doubt read a eood deal about the scheme, and probably knew as much about it as he did. Mr Herbert said it would not take Mm long to express his opinion about the scheme. He had no faith in it at , all. The C.W.S. was trying to buy, in the cheapest market. \ Mr Bickford said h R had nothing to j say for or against the scheme, but probably they would get as much from the C.W.S. as from any other source. The C.W.S. had been in exist«n«e since 1868, and if it was not fairly straight it would not have kent going so long. H e would like to have an expression of opinion from the meeting so that the directors would know their wishies. Mr Herbert asked what they would do if they dealt with the C.W.S and that society, after the nrice had been fixed, refused to buy. They conkf not then fall back on Tooley Street. The chairman said that personally he liked the Canadian and Danish ideas of selling every week in their own 'countries. Once the stuff had got Home they lost control and had prac"eally to accept whatever might be offered even if it was only threepence. He did not think there was any doubt but that they would get good prices tJrs season, and if they got a real good otter it would he best to sell. No resolution was moved. At a subsequent meeting of directors Mr Hawken was reappointed chairman