DAIRY FACTORY MEETINGS

Manawatu Times, Volume LV, Issue 7295, 4 August 1930, Page 8

DAIRY FACTORY MEETINGS

UNITED CO-OP. DAIRY CO. LTD. . ANNUAL MEETING. Tho annual meeting of the shareholders of tho United Co-op. Dairy Co. Ltd., was held in the Oddfellows' Hall, on Saturday evening, Mr Edgar Harding, chairman of directors presiding over a good attendance. Chairman’s Address. “In presenting the seventeenth annual report with the list of accounts,” said Mr. Harding,, “your directors congratulate you on another successful milestone in connection with the company’s operations. A close perusal of the balance sheet will at once, convince any shareholder that tho year’s operations have been carried out with care and a watchful cyo on tho expenditure. Conditions have been against the primary producers in this country and it has meant a serious fall in advances for butterfat. Touidirectors have done their best to keep advances u,p to a reasonable level, and this is reflected by the small surplus Which is available for distribution. No doubt suppliers have their own opinion which is the better policy to make liberal advances and a small bonus or a meagre advance and a large bonus. We regret that this year wo cannot recommend the payment of a dividend. On account of tho restricted financial receipts of tho suppliers and the small surplus available for distribution the directors do not this year recommend a dividend. This is not to be taken as a policy for the future. At the beginning of the season your directors purchased two new Ford trucks and this was a very wise course and a perusal of tho running costs in connection with cream collecting and butter delivery has shown a very small amount expended in repairs in comparison with other years. It is with pleasure we report the completion of a new contract for overseas carriage of dairy produce which the Dairy Board has been responsible for, which means a saving of £35,000 to the industry. One of tho bright spots for primary producers has been the pork industry. Prices have been at a fair level, which no doubt, was reflected from prices on the London market, and wo still believe that we should do an export business in this side of farming. Recently a conference had been held to go into the question of grading p<yk and until this is done the industry in pig products will not attain the position in the life of dairy farmers that it should. Alongside the pig industry is the one of pig feeding and this cannot bo successfully carried out until wo can obtain grain imported into this country at reasonable prices. There is no doubt that the export value of pork would, if this assistance were given to farmers, reach in a few years several million pounds, and as the primary producers are one of those factors of a successful country, this question should be watched by all who have the welfare of the Dominion at heart. A perusal of the appropriation account will show that wc have for distribution £745 17/3, which your directors recommend be paid out by paying one penny per pound butterfat on the months of November, December and January. “The advance during the year with tho bonus included has averaged out ‘at 1/4 per pound butterfat for finest butter.”

The report and balance sheet were adopted on the motion of Mr. Edgar Harding and Mr. A. Curry. The retiring* directors, Messrs J. Oliver and M. McKinlay were reelected, and Mr. N. Wcbley was reelected auditor. Tho following are the prizes won by the company during tho year: Winter Shows: Whakatane, 3 first, I second; Waikato, 3 firsts, 3 seconds and 3 thirds; Now Plymouth, 1 first, 4 seconds; Palmerston North, 6 firsts, 2 seconds and 2 thirds; Hawera, 1 first 1 second and 2 thirds; Auckland, 3 firsts, 1 second and 2 thirds; Sundry shows, 2 firsts, 3 seconds. In the championships at the Waikato Show the company gained the Wellington and Hawse’s Bay (provincial) championship; at the Palmerston North Show also the Wellington and Hawke’s Bay (provincial) championship; at tho Auckland Show, annexed tho N.Z. Butter Championship and the N.Z. Points Prize. A r otcs of thanks were passed to the staff for their co-operation, and the directors. A supper concluded the gathering. MAHARAHARA CO.’S ANNUAL MEETING. Tho annual meeting of tho Maharahara Co-operative Dairy Co., Ltd. was held at Dannevirke on Saturday when Mr J. Gildea presided over a full attendance of suppliers. The directors’ report disclosed the following figures in connection with supply and output during the year:— Milk for cheese making, 6,907,2441b5; butterfat for cheese making, 282,692.34 tbs; average test, 4.09.1: cheese made. 738,2021bs (229 tons, 11 cwt, lqr, 2ubs); lbs milk to lb cheese, 9.315; lbs cheese to lb butterfat, 2.63491b5; cost per lb cheese on rail (manufacturing cost only) .Sod; whey butter made, 25,047 lbs (11 tons, 3 cwt, 2 qr, 15 lbs); creamery butter made, 2,77'ilbs (1 ton, 4 cwt, 3 qrs, 6 lbs).

The balance to the credit of the working account was £2513 2s j 8d and the directors recommended that it be dealt with as follows:—Further payment to suppliers June to May 14d, £1741J 15s Id; balance to carry forward, £769 7a 7d.

The balance sheet showed the total turnover at £27,870 15s 7d, the manufacturing account £2630 14s Sd and the export charges £BO6 11s. In formarlly moving the adoption of the report and balance sheet, the chair man remarked that the company had reason to congratulate itself upon a successful year’s working and the very fatisfactory disposal of the output,

In Southern Hawke’s Bay

Mr AV. Galloway congratulated the directors on having sold tho output last year. He saw that tho board was going to pay out lid and that £769 7s 7d appeared as balanco to bo carried forward. Ho thought that they could pay out another »d and still have sufficient to cary over. The chairman said that tho matter had not boon finalised as they had only sold the output up to the end of May. Mr Galloway drew attention to eases where only £6 was carried forward to the next year and tho suppliers were paid out tho wholo of the surplus. He would move that the full surplus be paid out. Tho chairman explained that tho matter was not finalised yet. The directors proposed to hold the money as a suspense account towards some rebuilding fund, but thcro was some account still to be settled between themselves and the Kiritahi Company, which, since the destruction of the factory, had dealt with tho Maharahara supply. Ho gave a full explanation of the arrangements, but added that so far as any balance was concerned, it was for the meeting to decide. what, should be done with it. Mr Galloway, after further discussion in committee, still continued in his opinion that the wholo amount available should bo distributed, and moved that all the money available after meeting all liabilities, bo paid out to suppliers. Mr T. Harris seconded, and the motion was carried without dissent. After some further questions *had been satisfactorily answered by the chairman, the report and balance sheet were adopted. The two retiring directors, Messrs John Gildea and S. B. Fairbrother, were re-elected unopposed. In returning thanks for his re-elec-tion, Mr Gildea said he had been chairman of the company ’s board of directors since 1916 and ho was very gratified at the continued confidence indicated by his re-election. Things were going to tighten up as regards quality, said Mr Gildea. This was indicated by tho attitude of the big Taranaki factories. Big factories had the advantage in keeping up the quality, as they were equipped with dual plant and butterfat not up to the finest standard could be made into butter. Ho urged suppliers to take special caro in seeing that the supply reached the factory in the best possible condition. Mr Fairbrother also acknowledged his re-election. Mr N. AYebley was re-appointed auditor. General Bitsiness. It was decided to leave the present arrangements for tho transport of chese, stand. Mr Wren said he had been told that it had been decided to pay interest on the share capital. The chairman said that this had been discussed but no resolution had been passed. Mr Wren understood that Maharahara was the only company that was not doing so. The secretary named several companies that were not paying interest. After some further discussion, and on the motion of Mr J. C. Whiblcy, seconded by Mr I’Anson it was decided that it be a recommendation to the directors that interest be paid on share capital next year. Votes of thanks to tho chairman, secretary and staff, manager and factory st'aff and press, concluded tho business of the meeting. > At a subsequent meeting of the directors’ board, Mr J. Gildea was unanimously re-clectcd chairman.

WAIRTJHE’S ANNUAL MEETING. The annual meeting of the Wairuhe Co-operative Dairy Company was held in Dannevirke on Saturday when the chairman of directors (Mr L. G. Crosse) presided over a full attendance of shareholders. The annual report and balanco sbcct disclosed the following figures for the past year:—Milk received, 3,677,8501b5; butterfat, 154,0221b5; average test, 4.19; checso made, 367,9051bs (164 tons, 4 cwt, 3 qrs, 131os); lbs milk to lb cheese, lOlbs; lbs cheese to lib butterfat, 2.60 S lbs; cost of manufacture per lb cheese on truck at Maharaliara (including all expense and amount written off) and taking into consideration amount received for cream, 7d. The season ending June 30, 1930, had not been so good as the previous one as the price on the 1-lomc market had been considerably lower.

The company very much regretted having to record the death of their late chairman, Mr Robert Stevens, through whoso untiring efforts the company had been brought up to the high standard it at present maintained. The deepest sympathy of tho directors and shareholders was extended to his widow and relatives. The total turnover was shown as £12,759 Is, the advances to suppliers accounting for £9626 6s Id. The report and balance sheet were adopted. Tho two retiring directors, Messrs McNicol and Cullinane, were re-elected unopposed a.nd Mr Stratton was elected to fill tho vacancy created by the death of Mr Stevens. Mr C. WebbBowen, was re-elected auditor. The notice of motion given by the late Mr Stevens, that clause 6 governing the payment of interest on share capital bo suspended for tho coming season and that tho amount so saved be credited to the debt on the buildings, was dealt with, the chairman moving in that direction. This was seconded by Mr S. Brighouse and after sonic discussion was carried.

On the motion of Mr Brighouse a vote of thanks was accorded the dry shareholders for their attendance and for foregoing their interest on the ensuing year. Votes of thanks were also accorded the secretary and staff, the manager and staff, the chairman and press. At a subsequent meeting of directors, Mr L. G. Crosse was unanimously re-clected chairman..

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