KAIKOURA CO-OP. DAIRY CO.

Kaikoura Star, Volume XLV, Issue 73, 11 September 1925, Page 2

KAIKOURA CO-OP. DAIRY CO.

ANNUAL MEETING OF SHAREHOLDERS. The annual general meeting of shareholders of the Kaikoura Co-operative Dairy Company took place at Suburban Hall on Monday night, Mr (1. D. Smith (chairman of directors) presiding over a large attendance. The minutes of the previous annual meeting were read and confirmed. The Chairman said it was the 31st annual meeting, the balance-sheet had been circulated, ami he considered the company had had a very good year. He moved lhe adoption of the report and balance-sheet. Mr R. T. Popo (Secretary), in analysing the balance-sheet, gave a summary of expenditure under sundry items. The

Company had paid to its suppliers the sum of £18,757 I 1/3, ami the balance to profit ami loss (£2665 2/5) was to bo dealt with as follows: —A dividend of ■) per eent. on paid-up capital, £331 18/5, a cash bonus of I|d, £1584 1/9, a bonus of bl in fully pai'l up shares £3BO .11/6, and to carry forward £368 10/9. No amount had been deducted for depreciation or reserve during the year. The quantity of butter manufactured was 163 tons, the quantity of whey butter ]•] tons, the total amount of'.cream received 720,4191b5, butterfat 306,41 libs, he average tost was 42.5, and 11b of butterfat made 1.19811bs butter. lie would have pleasure in replying to any questions. ?\lr <T. Davidson seconded the jnotion for adoption, which was carried unanimously. Mr 11. Mackie asked if the directors had enough cash to pay for the machinery going into the factory. Mr Pope •xplained that the machinery going out would partly pay for it. The Chairman said that the new machinery would cl- '■ i ;; < p four hours in 12, which m»ant that the c< if the machinery would s »on be sav Mr . ' . ..quired as to the test • I tile uorlvr, and was informed by the Secretary that the Inspector of .Machinery had given a certificate for 124. Mr Brunel also asked if the lorry was Io be run this year, and the Chairman advised him that it was intended to continue running the lorry. Mr O. C. Palmer: At a loss?—No, it had not been run at a loss. Mr G. Doe asked what had been the

pay out, and was informed that it was up to 1/7 per lb. Mr G. Eaton wanted to know lhe basis on which the bonus was paid. Was it on the whole season? The Chairman said it was on the whole season, being based on the market prices month by month. Suppliers were paid on the quantity supplied. There being no further questions, ilic ballot for directors was proceeded with. Messrs Clark, Jensen and Hoss were appointed scrutineers. There were four vacancies to be tilled ind the following gentlemen were nominated: Messrs P. W. Adair, ]■'. Jl. Flower A. Keenan, B. Lawson, It. G. Miles, G. Al. Palmer, and J .11. Walter. The result was—lt. G. Miles 28.89 votes, A. Keenan 2630, G. M. Palmer 2174, and I?. W. Adair 2058. The Chairman duly declared these four elected. Mr Arthur L. Gray was re-elected auditor* at the same remuneration as previously paid. This concluded the business. The directors then met, ami Air G. 1?. Smith was re-elected Chairman for die ensuing year.