MAHARAHARA FACTORY

Manawatu Times, Volume 63, Issue 181, 3 August 1938, Page 2

MAHARAHARA FACTORY

Meeting of Shareholders

EXTENT OF INCREASED COSTS

OUTLINED

The 22nd annual meeting of the shareholders of the Maharahara Co-op-erative Dairy Co., Ltd., was held in the schoolhouse, Maharahara, on Saturday afternoon, when Mr. J. Gildea presided over an attendance of 25 suppliers. The secretary,. Mr. S. T. PaviourSmith, on behalf of tho suppliers expressed pleasure that Mr. Gildea had so far recovered from liis recent accident to be able to preside at tho meeting, and the chairman suitably replied. Votes of condolenco wero passed to the relatives of tho lato Mr. F. Nathan (of Messrs. Nathan and Co.), Mrs. E. J. Boyce, Mr. B. B. Gibson and Mr. T. Paviour-Smith, all of whom had been in some way connected with the company. Directors’ Report. The report of the directors was as follows: “In respect of the previous year the actual average pay-out was finally 14.981 d. In respect of the current year the valuation basis adopted for cheese and butter unsold at balance date was tlio guaranteed price, after making due allowance for all the charges thereon, and for cheese unsold in the faci-ory at 7£d per lb., and for butter Is 24d pei lb. The season’s average payout that has been advanced is 11.991 d. Wo recommend a further payout of 3sd, making this up to 15.491 d, at the annual meeting, and that the balance bo held in the appropriation account until all shipments are finalised. The amount of unsold cheese in store is 111,2191b5. nett weight valued at £3579 4s; creamry butter in store is 130 boxes valued at £4OO 5s Id. The unsold cheese in the factory is 26,7001b5. valued at £834 7s Gd and 7691b5. butter valued at £46 9s 2d.

‘ ‘ The total manufacturing coats, 3.770 d, are .308 d higher than last year. Of this amount wages aro .145 d, afid materials .098 d higher than last year. These are items over which we have no control, the wages and hours being fixed by an award and the cost oi materials has advanced on account of vendors being similarly affected with rising costs. “ Last year, on July 31, wo held our twenty-first anniversary social, at which we made a small presentation to our chairman, Mr. John Gildea, who has continuously been chairman since the corporation of the company. Unfortunately Mr. Gildea met with a motor accident last April, and has been in hospital ever since. We extend our sympathy to him and hope for his early and complete recovery. “A profit is shown in the benzine and stores account. Previously tho purchasers were charged at cost price, but discounts are not now allowed by the Government to be remitted direct, but are paid out on a butterfat basis to all shareholders. We therefore urge all suppliers to place all their orders for j manure through our own office. “We have decided that in future the financial year shall end on May 31, instead of June 30, as hitherto. This will give the secretary more time to prepare tho accounts and the auditor for auditing. The statistical information now required by legislation has entailed much more extra work at balance time than previously, therefore we con sidered it wise to make tho change.” Statistics for the Year. Statistics were attached to the report as follows, the figures for the previous year being shown in parentheses:— “Payout for previous year per pound butterfat (season average), 14.981 d; pay-out current year per pound butterfat, advance 11.991 d, estimated surplus 3.699 d; number of suppliers, 22 (26); pounds of milk received, 7,684,141 (8,106,354); pounds of butterfat from milk, 339,903.4 (350,874.2); pounds butterfat from cream, 578.3; average butterfat test of milk, 4.423 (4.402); total charges including repairs and depreciation up to f.o.b. per lb. butterfat, 3.770 d (3.462 d). Whey butter: Total pounds of whey butter made, .19,647 (23,299); average grade of whey butter, 88.642 (88.78). Cheese making: Pounds of milk, 7,357,711 (7,788,606); pounds butterfat from milk received over stage (no deduction for loss in j whey), 323,383.9 (341,198.3); average I butterfat test of milk, 4.395 (4.381); pounds of cheese (factory packing I weights), 811,754 (575,465); pounds of | milk to mako lib. of cheese, 9.064 (8.595); pounds of cheese to lib. butterfat, 2.510 (2.565); average gr&de of cheese, 92.26 (92.6); milk grade percentages, first 98.192 (95.41), second 1.808 (459); skimming lbs. of milk, 128,732 (318,294); lbs. of butterfat, 5,861.0 (35,645.9). Butter making: Pounds of milk, 197,698; pounds of cream, 1,425.5; lbs. butterfat from milk, 10,658.3; pounds butterfat from cream, 575.3. Average test of milk, 5.391; average test of cream, 40.568; total lbs. butterfat used for creamery butter making, 11,236.6; lbs. creamery butter made, 11,681; overrun creamery butter made, 1.04; average grade creamery butter, 90:322.

The chairman formally moved the adoption of the report and balancesheet, pointing out that there had been an increase in their manufacturing costs, costs of material and also in wages on'a smaller tonnage. Mr. R. Charmlev, who had been acting chairman while Mr. Gildea was away, gave a comprehensive statement j regarding costs between 1936, bofore I the guaranteed price was broug. . in, | and the year under review. In 1936, their tonnage was 384 tons, wages £IOOO, storage charges £286, and in 1938 the tonnage was 362 tons, wages £1,544 and storage charges £399. Fuel

■ and electricity charges in 1936 totall £279, as compared with £287 in

an increase of £125; stores and crate in 1936 cost £960 as compared wit £1195 in 1933, an increase of £235. while office expenses were £l7B in 193 and wero £206 in 1938. Mr. Charmlev pointed out that the average payout fothe 10-year period 1920-30 was Is 7*d, and for the 10-year period 1926-36 it was Is 34d. The period including the depression years 1932-34, when the average payout was lOd, Old and lOi respectively. Air. Charmley said he understood that it was tho intention of tho Marketing Department to institute compulsory inspection of milking sheds. Compulsory inspection, he said, had been tried by the Maharahara Dairy Co. some years previously and as no direct benefit had been gained the scheme had been abandoned. Without compulsory inspection tho Maharahara Company had continued to gain prizes and t..e highest awards at various shows while neighbouring factories with compulsory inspoction had not achieved tho sam<3 success. j Tho Directorate. Messrs. G. J. Hawkins and E. Reid. ! the retiring directors, were re-elected after a ballot. Votes of thanks were accorded the suppliers, tho directors, factory and office staffs and the Press. j At a subsequent meeting of directors Mr. J. Gildea was re-elected chairman for the 23rd year in succession. Messrs. Mebley and Ruby were reolocted auditors.