Ashhurst

Manawatu Times, Volume LIV, Issue 6993, 20 August 1929, Page 2

Ashhurst

DAIRY COMPANY ANNUAL MEETING. From Our Own Correspondent. The 16th. annual general meeting of the Ashhurat Co-operative Dairy Company was held on Friday, Mr J. C. Williamson presiding over a fair attendance of shareholders. The annual report of the directors read as follows: "The season under review was disappointing from a price point of view, the bright prospects prevailing at the begining of the season failing to materialise. However, the directors were fortunate in selling about 50 tons of the output at the high figure of 9|d per lb., f.0.b., which compensated to a large extent for the lower prices received for consignments, and has enabled the company to give a very satisfactory return to suppliers Cheese manufactured during the season amounted to 176 tons 18cw. 2qrs 221b5., an increase of 32 per cent, on Inst season. This output has been exceeded only twice in the history of the company. The directors have, every confidence in the future of cheese and will, early in the season, consider the advisability of standardising, a process which appears likely to increase the returns of cheese companies.’’ In moving the adoption of the report and balance sheot, the chairman congratulated the suppliers on a most successful season. A considerable quantity of milk in excess of tho previous year had been handled, with the result that the manufacturing and overhead expenses had been reduced and a net return to suppliers of Is 8d per lb. of butterfat supplied, compared very favourably with the pay-out of other cheese companies. In seconding the motion, Mr F. A. Rauzie expressed pleasure at the satisfactory result of the year’s operations. Mr C. C. Youle also congratulated the company on its sound financial position and the excellent return that had been made to suppliers. The motion was carried without further comment. The directors’ recommendations for the disposal of the balance in the appropriation account, viz., a further payment of 21 d per lb. on January and February butterfat; of 3d. per lb., on March, April, May, and June butterfat, and a dividend of 5 per cent, on paid-up shares, were approved. The retiring directors, Messrs. G. H. Story and J. H. Paton were re-elected, no other nominations having been received. Mr J. W. Whittaker was reappointed auditor. On the motion of the chairman seconded by Mr G. J Geange, it was decided to donate £lO to the earthquake relief fund. Recommendations to the directors to consider the advisability of standardising and the installation of a small butter plant to deal with the cream bo obtained, were made. The factory manager, first assistant, and the secretary were voted bonuses. At a subsequent meeting of directors, Mr J. C. Williamson was re-elect-ed chairman. The advance for butter-fat supplied in July was fixed at Is 6d.