KONINI DAIRY COMPANY.

Manawatu Standard, Volume LVII, Issue 232, 31 August 1937, Page 5

KONINI DAIRY COMPANY.

At tho 19th annual meeting of tho Konini Co-operative Dairy Co.. Ltd., held yesterday, Mr Milton Alpass presided over a fair attendance of suppliers.

Tho following was tho chairman’s report:—“Tho building and renovation operations, commenced in the previous season, were completed at the end of September, manufacture of butter being commenced on October 1. The suppliers aro to bo congratulated on now having an up-to-date modern factory. We have to thank the Pahiatua Dairy Company for assistance in the opening three months of the season, that company purchasing and cream for the period as from its own suppliers; wo effected the collection and delivery. The curtailed period of manufacture is reflected in our working account which, owing to the heavier pro rata expenses entailed, docs not permit of so large a payout to as would have been the case had manufacture been continuous through the whole season. The output this season, with tho exception of small quantities sold locally, has been purchased by the Primary Products Marketing Department, and wo aro pleased to record that practically all our butter has been of the finest quality, the average grading being 93.48. Advances to suppliers havo with the June payment been it Is per lb butterfat for finest grade, tho average for all grades being 1i.95d The directors recommend the payment at tho annual meeting of 5 per cent, dividend on paid-up capital, and a further payment of per lb on butterfat supplied. During tho year by extraordinary resolution the capital of the company was divided into two classes, tho first 1500 shares, contributed by the original shareholders, being created into cumulative preference shares; 187 new shares were allotted pro rata to existing sahrcholdcrs, past rebates and dividend from the freezing company being devoted to that purpose without encroaching on our ordinary revenue; 758 now ordinary shares have been subscribed by suppliers. The board desires to place on record its appreciation of tho valued services of Mr Thomas Avery, who has been a director since the inception of thp company in 1918, and who on account of pressure of private business retired in November last; Mr A. S. Clulow was appointed to the vacancy thus caused.” Tho ordinary shareholders’ representatives appointed to tho directorate were Messrs -S. Bone and A. E. Elmers. Messrs R. B. Humphrey and Ridder were elected directors representing the preferential shareholders.

The factory statistics for tho season ended wore: —Average payment per lb butterfat for season 1935-36, 11.96 d; average payment per lb butterfat for season 193637, advance 11.95 d; estimated surplus less* dividend and income tax, .81d; number of suppliers, 301; pounds of milk ' received, 23,854; pounds cream received, 3,424.898; pounds butterfat from milk, 971; pounds butterfat from cream, 1,310,824; average butterfat test of milk. 4.0; average butterfat test of cream, 38.27; total charges, including repairs and depreciation, up to f.o.b. per lb butterfat (2.097), less estimated allowance for no manufacture during first throe months whilst rebuilding factory (say .174), 1.923; total pounds butterfat used for creamery butter making, 1,140,657; total pounds creamery butter made. 1,371,875; over-run creamery butter made, 19.63; average grade of butter, 93.48; cream grading percentages—finest, 90.21; first, 9.03; second, 0.71. Regret at the retirement of Mr Alpass. who had been chairman for 19 years, was expressed by Mr Godfrey Taylor, who said that Mr Alpass had been a tower of strength in building the factory up lo its present status. His advice had been sound and just, and he would be great ly missed. He himself had always worked in harmony with tho chairman, and ho wished Mr Alpass the best of luck in the days that that lay ahead. Supporting remarks were made by Messrs Hirst, Humphrey, Harris, and Clulow.

in reply, Mr Alpass said he had acted as the factory’s chairman for 19 years. Hard times had boon experienced, but he had been able to bring the factory up to what it was now. He was getting on in years, and wished to allow someone younger to fill his placc._ Having thanked the speakers for their kind remarks ho wished all a bright and prosperous future.