SHANNON DAIRY COMPANY.

Manawatu Herald, Volume XLIX, Issue 3832, 16 August 1928, Page 2

SHANNON DAIRY COMPANY.

ANNUAL MEETING OF SHAREHOLDERS.

About fifty shareholders attended the annual meeting of the Shannon Co-operative Dairy -Co., Ltd., held in the Druids’ Hall on Saturday. The Chairman of Directors (Mi*. R. W. Taylor) presided, and he presented the annual report and balance-sheet. DIRECTORS’ REPORT. The 20th annual report was as follows: —The result for the year’s working is. very and shows an increase both in butterfat payment and production, over last year. The amount of butter manufactured for the year was 814 tons lewt. lqr. 101bs., being"' the highest output to date and an increase over last year of 51 tons 6 cwt. 2qrs. 51bs. The average monthly payment for butter-fat was 16.635 d. Provision has been made in the balance-sheet for a further payment of l|d per lb. on the season’s supply, bringing the payment for butter-fat for the year to 18.3S5d. The average grade was 94.26, all butter being of finest grade. The store business shows a slight increase in sales and a nett profit of £9ll on the year. The amount to credit of profit and loss account as shown on balance-sheet is £2631 6s fid. Out of this amount your Directors propose to pay the usual 6 per cent, dividend and carry the balance forward. Mr. G. Stiles, as one who was present at the stocktaking of the drapery, said the stock was found to be clean and little had to be discounted. This department had been exceedingly well run, the gross profits being 13 per cent, and the nett profit 3.3. The store account was particularly good. The chairman said this was very pleasing as last year there was a good deal of adverse criticism. The adoption of the report and balance-sheet was carried. The retiring directors, Messrs J. Chrystall and R. L. Tippler, were re-elected, there being no further nominations. Mr. Chrystall, in returning thanks, said he took it as a vote of confidence not only in themselves but in the present chairman and directors. Messrs Henry Kember and Son were re-elected auditors. THE HALF HOLIDAY.* A notice of motion by Mr. R. W. Taylor: “That as the store department was started for the convenience of suppliers to the Company, and as Saturday is the usual.marketing day for farmers, the store be kept open for business until 5 p.m. on that day,” was seconded by Mr. Chrystall, who said that farmers generally would like the store to be kept open on Saturday afternoons. He said it was hoped that next year there would be a much larger turnover with the prospects of the new bridge being completed in the near future. Mr. Stiles said he was against the motion. At the annual meeting before last the shareholders had decided against keeping open on Saturday afternoons. The employees preferred Saturday for their half-holiday and if suppliers could shop on another day, they were entitled to study their employees. “We should encourage the co-operative spirit not only with the suppliers but with our employees. If the shareholders want the store kept open it is alright, but if we can give our employees the holiday we should.” He asked if they were losing trade when the other stores were open. The chairman said the question was, “are we suiting the convenience of those from a distance?” He wanted to see the convenience of suppliers satisfied. He thought that when the bridge was open they will lose more trade by being closed on Saturdays. Mr. James said it was for the shareholders to decide which was the most suitable day to close. Mr. Tippler said in other places co-operative stores closed on Saturdays. v Mr. George Baroer was of opinion that it was not a of competing with other stores. The success of their store rested largely with the work of the staff’ and he understood that the staff had sent in a unanimous requisition that Saturday be observed. Mr Hyde pointed out that it rested with the Shannon Borough Council to declare which half day should be observed by business plaVcs in the borough. Wednesday was the half day declared by them r.n.l the council had the power to enforce it. The motion on being put to the meeting was lost by three to one majority. VOTES OF THANKS. Mr. Chrystall, in moving a vote of thanks to the managers and their staffs of the factory and store, said that the average grade of 94.26 and all butter being of finest grade alone spoke volumes. In connection with the store department they had a credit balance of £912, which was most satisfactory. Some were under the erroneous impression that the stock (£5600) had been paid for out of butterfat, but this had been built up out of the profits. The motion was carried by acclamation, Messrs Aim and Cronquest returning thanks. Mr. G. Barber moved a hearty vote of thanks to the directors for the way they had carried out their duties this year. A vote of thanks was also accorded the suppliers. The meeting then closed with a vote of thanks to the chair.