Dairying at Tiakitahuna

Manawatu Times, Volume LIV, Issue 6633, 21 August 1931, Page 8

Dairying at Tiakitahuna

ANNUAL MEETING OF DAIRY COMPANY. The annual meeting of suppliers of the Tiakitahuna Dairy Company was held yesterday, Mr. M. Eichardson presiding. The annual report and balance-sheet were adopted on the motion of the chairman, seconded by Mr. N. P. Nielsen. In reviewing the past season’s operations, the chairman pointed out that suppliers’ butterfat deduction accounts wc-re the same as last year and represented the accumulated 3d deducted from the suppliers’ account prior to 1928. The 3d deducted during the past season and amounting to £262 Os lid had been transferred to the depreciation reserve. After making allowances for all payments and credits, the overdraft last year should have been £I7OO and by the same method this year this account should have been £1735 18s 3d, but against this figure was a credit to their own account of £257 13s 4d leaving a balance of £1478 4s lid with reference to the £257 13s 4d this fund had been created in pursuance of the directors’ policy of paying into a separate bank account from month to month, a similar amount to that deducted off the suppliers’ accounts at the rate of 3d per lb. butterfat, thus strengthening financially, tho position of the company. Tho cost per lb. of buterfat to f.o.b. was 3.47 d made up as follows: —Cost of manufacturing (excluding payments to suppliers) 2.13 d, overhead expenses .67d and costs to f.o.b. .68d. This compared very favourably with the costs for the 1928-29 season which was 3.65 d and was brought about by increased make. At tho end of the season a fairly large quantity of cheese remained unsold and had been valued at 60s to 62s per cwt. London. The directors had written to the Dairy Division strenuously opposing the grading of milk as they did not consider grading would bo of any benefit to cheese-making. The prospects for tho coming season were not of the brightest although the outlook for cheese wa's brighter than for butter.

Mr. Eichardson anticipated that tho supply of butterfat for the coming season would exceed that of the past and he urged that every opportunity should be taken to get added supply in order to lessen the cost of manufacture and increase the bonus. He asked for the co-operation of all during the coming year which would be a trying one. It was only by mutual trust and confidence that difficulties would be surmounted. Suppliers should remember that the directors were always trying to do their best. In conclusion, the chairman expressed thanks to co-direc-tors for co-opcration and support during the year. . It was decided to pay out a bonus d? 1 3-8 d on the output, making lid for the season. As tho nominations for the directorate did not exceed tho vacancies, the chairman declared Messrs. Hcarscy and Damncy re-elected. Mr. P. L. Sim was re-elected auditor. The matter of a dividend on paidup capital was held over till next year. Tho directors’ honorarium for , the coming year was fixed the same as last year, subject to a 10 per cent. cut. Mr. Shepherd, representing Messrs. Foley Bros., one of the agents for the company, addressed tho meeting on the past season’s operation and the outlook regarding cheese for the coming season.

A vote of thanks to the chairman, secretary and manager terminated the meeting. At a subsequent meeting of directors, Mr. M. Eichardson was re-elected chairman.