DAIRY ASSOCIATION.

New Zealand Herald, Volume LV, Issue 16943, 31 August 1918, Page 8

DAIRY ASSOCIATION.

RECORD YEAR'S BUSINESS.

MEETING OF SHAREHOLDERS. [DT TM.TCIUFH.— COR»EBPOXDEXT.] HAMILTON, .Friday. The annual meeting of shareholders of the New Zealand Dairy Association was held at Hamilton to-day. There was a large attendance. Mr, H. E. Pacey, managing director, presided!. The chairman, in moving the adoption of the report and balancesheet, an published in the Herald of August 24, said that tho record turnover of £1,376,438 for the past year placed the association in the position of being the second largest manufacturing dairy business in tho.'world. As an indication of tho

'I progressive nature of the association, ho -1 said, it was the first co-operative company ' I lo indent manures and supplies for its '• ] shareholders, tho first to offer a comprehensive ccheme for the installation of ' J cheese plants and the first to undertake ' the manufacture of dried milk. It had ) also introduced to the Wnikato tho maimI I'acture of casein, for which about ten - plants would be in operation in the dis- ,' trict this season. Tho association's supi pliers to butter and cheese factories had ; reason to feel satisfied with their position, i In the past the association had maintained , the best average payment in the district, > and doubtless when comparisons foi 'the i past two years wero available the results • would bo equally favourable. Negotiations ) in regard to both the past and coming i season's outputs of butter and cheese were . , still in ' progress with the Government. I The reason lor the delay was not apparent, , and tho uncertainty was embarrassing to .tho industry. Ah ettorb to expedite a settle- . ment would be made at a meeting of the . Dominion Committee at Wellington on . Thursday next.- Widespread disappointI ment was fe.t over tho delay in fixing the , amount which was to come to the pro- , ducers under the profit-sharing schenio in . the past/season's butter deal. The Australian producers Knew in Juno last that thoir share of the profits had been fixed at 19s per cwt. Outlook for the Future.

Dealing with future prices, Mr, Pacey said that in view of the. doubt, still exist, ing in regard to last season's payments it seemed vain to forecast the future. He was of opinion, however, that higher prices should be paid for both butter and cheese. In view of the rates being paid by the Imperial authorities to other countries, and to the greatly increased cost of production, higher payments than last season's were justified. In respect to storage and shipping, Mr. Pacey said that the stores of the Auckland Province now contained about the same quantity at they held at this period last year. Theft bad not been a loading of butter at Auckland for Britain for between four and five months, but a shipment should be made in the near future, and this would relieve the congestion somewhat. Some months would probably elapse before last season's accumulations were cleared. The Farmers' Freezing Company was meeting its responsibilities in regard to storage courageously, and; the extensive additions to the works at Auckland, Southdown and Horotiu now being carried out would increase the margin of safety. • • • Commenting on the proposal to amalgamate the South Auckland dairying interest*, the chairman said that on principle he approved of the scheme, which would conserve capital, jredu'* expenses and •result in a better article being produced. He was glad' the Farmers' Union was taking an active interest in the amalgamation proposals; and hoped the efforts of the union would not be relaxed till they had achieved success. Mr. Pacey ' said that it. was intended to introduce the ward system for the election of directors of the association. He also dealt with the system of share resumption, "and announced that the directors had decided to eliminate the condition that : persons "whose shores Tiad been taken back by the association should again supply to the association if they resumed dairying. He explained in detail the system of share resumption, and said that the association took back 7502 shares last year, and 4206 during the preceding year. Mr. Pacey made sympathetic reference to the loss at the front of the late Captain A; C. Hubbard, Tormerlv chairman of directors of the Thames Valley Dairying Company, and concluded by reviewing the v chief items in the balancesheet. " V ' ' '' ! . Non-Supplying Shareholders.

Ail amendment moved by ' Messrs. H. H. Hawkins and G. Yercoe, on behalf of non-supplying shareholders, that the association should resume the policy of paying interest on share capital or of redeeming such shares at not less than 75 per cent, of their paid-up value, was lost by 15 votes to 66, and tlw. motion was carried with only two dissentients. The directors'' honorarium was fixed at £75 a yea?, and Mr. S. H. Matthews wan reappointed auditor. On the motion of Mr. W. J. Lusty, of Orini, it was unanimously resolved to recommend the Government to make full in-. quiry into the question of the utilisation of milk and its by-products with a view to providing information regarding the manufacture and marketing of thoscrcommodifies which will be most remunerative to the dairy farmer. Failing early action by the Government, as suggested, the directors were recommended to take the necessary steps to fully investigate the matters referred to, : and, if considered necessary, to establish a laboratory at a cost of approximately £1000.