AWAHUEI DAIRY COY.

Manawatu Standard, Volume XLVIII, Issue 226, 22 August 1928, Page 8

AWAHUEI DAIRY COY.

ANNUAL MEETING.

Tho 31st annual general . meeting of shareholders of the Awahuri Dairy Coy., Ltd., was held in tho public hall, Awahuri, yesterday, there by a good attendance. Tho chairman of directors, Mr N. Campbell, presided and briefly expressed his gratification at such a largo nuinbor of shareholders being present. In speaking to tho report and balancoshoet (already published in tho “Standard”) tho chairman congratulated tho shareholders on tho conclusion of a successful year. The company compared vory favourably with any of the surrounding companies and, indeed, with any other company in Now Zealand where tho average ovorrun and output were tho same. Prices throughout tho year past had been very stable, and tho indications were that greater stability would be shown this year. Tho output of the country was steadily 'growing, and tho speakor considered that Now Zealand would soon outrival Denmark in tho export of dairy products. The drought last year had interfered with tho country’s production, but to a large extent this had been made up by the mild autumn and winter.

Continuing, Mr Campbell went on to detail the arrangements tho directors had made with a rubber company in Palmerston North to get special concessions in milking machine rubbers, and the speaker felt sure that a considerable saving to the shareholders would result. HERD TESTING.

The Government subsidy on herd testing of £BOOO was next touched upon by tho chairman, who spoke briefly of tho great benefits to bo obtained from herd testing. Touching upon tho local trade of tho company, Mr Campbell said that it had grown steadily during the past year and now represented a considerable income to the company. Unfortunately, 6omo companies last year had seen fit to cut prices, and this had resulted in a loss not only to tho Awahuri Company, but to all the companies in the Wellington province.

PORK SUBSIDY. Referring to the perk subsidy, tho chairman thought that the Government was giving the farmers every help to go out and capture tho pork trade in Great Britain. Tho restrictions in regard to the importation of cacases from tho Continent into England owing to the prevalence of foot and mouth disease were in themselves offering every incentivo to the farmers to in crease their efforts as regards the production of pork.

BONELESS YEAL.

Tho speaker then went on to explain the boneless veal industry, which ho was proud to say had originated in this district through tho activities of tho Awahuri Board of Directors. Mr Campbell was of the opinion that the industry was only in its infancy and thought that if the farmers concentrated on co-operative methods, and were content to pool their supplies, there would bo no doubt that tho calf would be one of tho most valuable side lines on the farm. In time he thought that thoro would bo plants installed which would manufacture the various by-products to bo obtained from the bones such as gelatine, and when this camo about the speaker was sure that the Calf carcases would return £1 to tho farm. EXCELLENT PROSPECTS.

Tho directors had already dealt with quotations for this soason’s make, the chairman stated, and had refused for tho August and September supplies an offer which would return to the suppliers Is 6id. They had been influenced in this by the excellent prospects _ for the coming season which were offering and ho was sure that their action would be borne out by future prices. The chairman then thanked tho staff of the factory for their assistance during the year and his co-directors for their help, and then • formally moved the adoption of the report and balance-sheet. Tho motion was seconded by Mr Hansen.

QUESTIONS ANSWERED.

Asked by Mr Whittle if it were not possible to individualiso the calves which were received for carriage to the freezing works and there rejected, and so make the owner of the calf directly responsible for the loss, the chairman said that idea had been considered but found impossible to carry out. The driver of the lorry had full powers to reject calves which ho thought unfit and this had been found tno only satisfactory way of meeting thb case.

Mr Hansen pointed out that there were only about 50 calves out of every 2000 received which were rejected and this number, he thought, could not be considered excessive.

Mr It. ltoss desired to know why tho transport and selling charges this year showed an increase of practically double, and the chairman replied that last year the factory had been under the Control Board and tho directors themselves did not know the figures which were deducted under this heading. Compared with the year before control, tho amount for tho same charges was very favourable, tho chairman thought. To Mr Cheetham, the chairman explained that the increase in tho wages account were due to extra hands employed at tho factory through the increased output and also to an increase in tho award rate of wages.

To Mr A. Wilson, tho chairman stated that the company itself was in no way concerned with tho “bobby calf’’ industry. Tho directors had done a lot of ■work individually to get tho scheme in working order, but the National Dairy Association was directly responsible for tho carrying on of tho scheme. Tho Awahuri Dairy Co. was in no way implicated in tho liabilities of tho project. To another question the chairman stated that the directors were very satisfied with tho electric power for the factory in comparison with steam, and in this connection he wished to emphasise that electric power was a co-operative line, and if everyone used it it would become cheaper for all. After further questions had been asked and answered by tho chairman, Mr Cheetham congratulated the directors on tho financial state of the company and on tho excellent balance-sheet that had been produced. (Applause). The motion was then carried unanimously.

GENERAL.

On the motion of Messrs Campbell and Danielson, it was decided to pay a dividend on paid-up capital of 6 per cent. It was decided not to circulate the company’s balance-sheet among non-share-holders of tho company. Messrs Dcmpsy and Litchfield were reappointed tho company’s auditors at tho same remuneration as formerly. The third Tuesday in August, 1929, at 12 noon, in the Awahuri Hall, was fixed as tho time of the next annual meeting. ELECTION OF DIRECTORS. For the double vacancy on the directorate caused by the retirement of Messrs Campbell and Hansen, both of whom again offered their services, four nominations were received, and tho ballot resulted in Messrs Campbell and Hansen being re-appointed directors, both of whom returned thanks. NOTICE OF MOTION. In accordance with notice of intention given, Mr W. E. Thomas moved and it was carried unanimously as follows: “That article 57a bo uinended to road: The oilico of director shall be revoked (a) if ho shall cease to hold in his own right five (5) shares or share warrants or stock in the company equivalent to such shares or cease to be a supplier of cream or milk to the company.” A long discussion then took place regarding tho alteration of tho articles of association of tho company to provide for the taking up of shares on a co-operative basis. Mr Hanson moved that it bo a recommendation to tho directors that a canvas be made of all suppliers with a view to them taking up shares on a voluntary basis, but this was eventually lost in favour of an amendment by the chairman that, taking into consideration the favourable opinion expressed at the last meeting it b 0 a recommendation to the direc-

tors tha-t another effort be made to have compulsory shareholding enforced.. MEETING OF DIRECTORS. At a subsequent meeting of directors Mr N. Campbell was unanimously reappointed chairman for the ensuing year.