TAI TAPU DAIRY FACTOY.

Lyttelton Times, Volume XCIII, Issue 10593, 28 February 1895, Page 6

TAI TAPU DAIRY FACTOY.

The thirteenth half-yearly general meeting of the Tai Tapu Co-operative Dairy Company, Limited, was held in the district schoolroom on Monday evening. There was a good attendance of shareholders, and Mr E. Eainey, chairman of directors, presided. The report of the Directors stated, in regard to the resolution passed at the last general mooting as to the method of raising the means of purchasing refrigerating plant by the deduction of a quarter of a penny per pound on butter accruing to each supplier monthly, that the amount thus accumulated was £l6B 2a lOd, which was now included in the general account of the company. The Directors desired to have an expression of opinion as to whether shares should be allotted to those concerned to the amount of their deductions, or whether the amount should form a reserve fund. The balance-sheet showed:—Subscribed capital on July 31, 1894, £3063 15s, receipts £97, total £3159 15s, assets £3444 17a 10d, expenditure .£5 14s, depreciation £SO, remaining £3400 lls lOd, which was £240.16a lOd in excess of subscribed capital ; this amount had boeu adjusted from the butter account, and would ultimately return to that account when shares to this amount had been taken up. The quantity of milk received during the half-year was far in excess of previous receipts for a similar period, and the percentage of butter made was satisfactory, yet the Directors were of opinion that this might be improved. The Directors were aware that many suppliers considered that attention should be given to Cheese-making during a portion of the season. This would entail a large outlay in alteration of building and plant, and the Directors would therefore take the opportunity of inviting discussion on the subject. It was recommended that interest at 6 per cent on fully subscribed capital on Jan. 31, 1895, should bo declared as provided for. The report and balance-sheet were adopted. Mr Spanjer moved “That shares be allotted to the amount of deductions from each supplier from time to time until the cost of refrigerating plant be defrayed.” The motion was seconded by Mr J. J. Herrick, and carried. Mr Quayle moved—“ That this meeting approves of the carting of, cream from Greenpark being defrayed from the general 'account of the company.” Tie motion ;was seconded by Mr E. Delieu but was lost. Totes of thanks to the Chairman and Directors terminated the meeting.