CAMBRIDGE DAIRY COMPANY.

New Zealand Herald, Volume XLIV, Issue 13502, 29 July 1907, Page 8

CAMBRIDGE DAIRY COMPANY.

[KIIOM 0011 OWN ConrtBSI'OSDBST.].- ; Tub animal meeting of shareholder* of the Cam* bridge Co-operative Dairy Company was held on Thursday, Mr. James Taylor (chairman of directors) presided. The secretary (Mr. Martin Butler) read the report and balance-sheet, the substance, of which has already been published.' It stated, among other thing's, that the year's turnover exceeded £40,000. During tile six years' operations bad debt* only amounted to £15 15*,: and when the balance was struck there was no!) ii single overdue 'account on the book*. The directors had thought.it advisable to make provision for the wiping out or" the value of thai HauUpu central factory with a view to the election ill Hit; future of an sip-ln-date brick strut.-. ture, and for that purpose bad in the present instance written off a kiwi of £600. A. contract had been let for erecting a new creamery at Feneourt and for a house for the manager of the Pukekurn creamery. Mr. Hardy questioned the equity of writing off si greater sum than T 7 per cent, for depreciation. Considerable discussion ensued, the chairman explaining that the courfo was taken by the director* in the best interest* of the company. A mo!ion by .Mr. Lichfield that in'-tut 7i per cent, be lie limit tor depreciation, and* that. all surplus moneys "be placed to the. credit, of the bonus fund, was defeated by 24 votes to 19. The balance-sheet find report were adopted. The matter of nijjnatuJM to the bank guarantee .bond cropped lip, but the secretary . »aid out of 129 suppliers only two had not signed the document. A ballot took place to rill two vacancies on the directorate, .Messrs. John Fisher and ('. hake being reelected. Mr. P. A. Forbes was re-elected auditor. A vole of thanks was parsed lo the dirertors tor their service*. 'Hie proceeding* coneluded by tho payment of the annual bonus w suppliers, amounting to £4000. :. 7 ■:■ ■- .