KAIKOHE DAIRY COMPANY

Northern Advocate, 30 July 1934, Page 4

KAIKOHE DAIRY COMPANY

FIFTH ANNUAL MEETING. The fifth annual mooting of the Kaikohe Co-operative Dairy Company was held in the Regent'Theatre, Kaikohe, on Saturday, when there was a large attendance of shareholders. Mr H. F. Guy, chairman of directors, presided. The report stated that the season just concluded had been one of the most trying during the experience of most of the suppliers. To add to the difficulties, the season, which promised to set a fresh record, was, on account of a dry summer and autumn, disappointing, Up to the end of January there was a large increase in production compared with the same period of the previous season, but from then on to the end of May there was a rapid falling off in supplies, and the season ended with only a slight increase over the previous year. Until the dry spell affected the herds the .quality of the cream sent in was good and in consequence the butter grading was high, but towards the end of the season, probably due to the fact, that recourse had to be taken to supplementary feeding much earlier than usual, the quality of the eieam sent in dropped and this was reflected in the quality of the* butter manufactured. The directors had authorised a deferred payment on butterfat supplied of lid on November supplies, 2d for December, 2d for January, • IJd for February, and 4d for March. The output of the factory was slightly over 307 tons. The average grade of butter was 93.734, and the average advance for finest butterfat with ” deferred payment added, less cream cartage, was S.OOd.

After a brief resume of the year’s activities and achievements, Mr Guy niQved that 'the report and balance sheet bo adopted. This was seconded by Mr Johnson.

Several speakers asked questions in order to elucidate various points, and congratulatory references were made in respect to the high awards earned by the factory at the recent shows. The motion was carried unanimously.

A resolution was passed recommending the payment of 14 per cent interest on paid-up shares. The directors’ remuneration.was fixed at the same amount, as last, year (10/ a meeting ■ and travelling expenses).

The two retiring directors, ‘ Messrs H, M, Rockell and K. Pou, were reelected unopposed, A resolution to increase the capital from £IO,OOO to £20,000 was passed. The chairman explained that the new issue was for the purpose of allocating to new suppliers,, the, present share capital being all allotted. This increase was one of the pleasurable developments in the company’s life and did not mean any increased burden oh the shareholders, Vi

On the motion of Mr W. White, seconded by Mr Douglas, it was decided* that it be a recommendation to the directors, in the event of any of the company’s present shareholders being transferred to any other company owing to the suggested defining and limiting of boundaries, that such shareholders be paid full value for their shares.

The meeting closed with a hearty vote of thanks and appreciation to the staff, Mr Denize, the manager, replying,- ;