Riverbank Dairy Company

Manawatu Times, Volume LIV, Issue 7250, 1 September 1933, Page 5

Riverbank Dairy Company

ANNUAL MEETING OE SUPPLIERS. At the annual meeting of the Riverbank Co-operative Dairy Company, held at Ngwapura on Tuesday. Mr. J. Hanary presided over a good attendance. The season’s output was 409 J tons, an advance of 39 tons on the previous year. • The average grade per crate of cheese was 91.4 S points. The annual report (which has already been published) balance sheet were adopted on the motion of the chairman and Mr. V. Itofe. The chairman reviewed the financial statement at some length. The Jand, buildings and plant stand at £2076, shares in other concerns at £1624, war bonds at £SOO, in bank (current) £972 8s 3d (deposit) £ISOO. The cheese stocks, taken in at £546 were stated to he now afloat. The premium on exchange totalled £2530 10s. Practically all costs had been reduced, and the manufacturing costs were 1.768 d per lb butterfat, compared with 1.876 d the previous year. Interest charges were only 14s 6d. The retiring directors, Messrs Hanaray and H. D. Lovell, were re-elected unopposed. The auditors, Messrs Dempsy and Litchfield, certified that all their requirements had been met. The company’s books records continued to be kept in excellent order, and the directors were to be congratulated upon the manner in which they had conducted the company’s affairs through a difficult and strenous year. Messrs Dempsy and Litchfield were re-elected auditors. As .W B (Gorpe guhasifctea

teresting figures showing the position of the company in relation to the year 1927. The fuel costs had decreased from 31s 9d per ton in 1927. to 21s last season, and wages per ton were now £2 19s 3d, compared with £3 18s 9d six years ago. The shrinkage in the value of cheese was shown by the fact that in 1927 the farmers received 16s Sd for every £1 -worth of cheese sold, and only 12s 6d last year. General. Beferring to the average grade of 91.48 points, the chairman said this was a good effort, particularly as unpasteurised cheese vras made over the latter half of the season, and spoke highly for the make and milk supplies. The chairman’s honorarium was fixed the same as last year, and a motion was passed that for future years the honorarium be £ls. “To leave the milk for an hour in the sun on a'warm morning does more harm than 1 anything else/’ said Mr. J. T. Clark in suggesting a bonus to the first ten supplies to bring their milk to the factory.

took the trouble to keep the milk cool in hot weather; but all must do it if it is to be effective.” On the motion of the chairman a motion of thanks to the staff and manager was carried by acclamation. Messrs McPeak and Clarke moved a special vote of thanks to the secretary (Mr. E. J. P. Simpson) for sending out a comprehensive monthly statement to suppliers. In supporting, the chairman said that this service cost the company nothing beyond paper and ink. The secretary had installed the necessary machine at his own cost, for which the company was most appreciative.

The meeting concluded with votes of thanks to the chairman and the Press.