NEWBURY DAIRY COMPANY

Manawatu Standard, Volume LXV, Issue 225, 22 August 1945, Page 6

NEWBURY DAIRY COMPANY

The annual meeting of the Newbury Dairy Company was hold on Monday, the chairman (Mr M. G. Hanson) presiding. In moving the adoption of the report, the chairman said Ihc year had been a successful one. The payout for such a small company as Newbury compared favourably with those of the largest companies. The increased quantity of butterfa* supplied was to the credit of the suppliers, who had laboured under difficult conditions. The producer on the land could not slacken in his efforts now the war had been won, because largo quantities of food were required to feed the people in Fairope. Mr Hansen paid a tribute to the work of the manager (Mr W. L. Krivan) and Ihe secretary (Mr F. 13. .lemiings). Mr Hansen, in conclusion, expressed the hope that more labour would be available to assist the producers this scasoti. lib thanked the suppliers for their assistance, also the directors. "We meet today in a spirit of satisfaction." said Mr .1. Linklater. Labour was greatly needed for farms in the fanning season, however. All realised that the older people had had to carry the burden while I heir sons were overseas. As chairman of the No. 6A Armed Forces Appeal Board he sympathised with the farmers, but the steps taken were necc.ssar\ in winning the war. lie was of the opinion that with the return of the men fro it overseas the production of the Dominion could be increased, for ho did not hold with the opinion that the Dominion had reached the limit. The report was adopted. Mr L. G. Hob land was reclecled to the directorate and Mr C. Collins was elected to (ill the vacancv rendered by the death of his fr.ihei," Mr E. W. Collins. Mr 11. J. Roes was reappointed auditor.

Notice had been given at a previous meeting that the articles of association be changed in regard to the declaring of the dividend on" the paid-up capital. Under (lie old article the directors had to declare a 5 per cent, dividend on all paid-up capital, but under the motion they could declare any dividend I hey thought fit in view of tlie success or otherwise of the sea«on. In moving the motion, Mr A R. MeCullooh said that the article was framed many years ago and had now become antiquated. Very little money invested received 5 per cent. 'I he chairman said that lie did not know of a dairy company paving 5 per cent, on its share capital; most of them paid from 222' 2 per cent, to 3 per cent. The motion was carried.