TAIERI AND PENINSULA MILK SUPPLY COMPANY.

Otago Daily Times, Issue 12801, 23 October 1903, Page 3

TAIERI AND PENINSULA MILK SUPPLY COMPANY.

The nineteenth annual general meeting of shareholders in tJio Taieri and Peninsula Jlilk Supply Company wa® held in the Oddfellows' Hall, Stuart street, yesterday morning. The hall was qitito Ml, there being between 200 and 300 shareholders present, and Mr W. Nicolson (chairman of director.-:) presided. Tho Chairman, in moving the adoption of the report (already published) and balance sheet, said: X tako this opportunity of laying before you particulars of tho company's working for tho year just ended) and other matters in oonnection with the company's business. During the year the company purchased, as you will see by tho report, 82,639,158|b of milk at a cost of' £170,456 13s 9d delivered at the central factory. Tins amounts to 3,719,2931b in excess of list year's supply. The price paid for milk for butter-making was 10.25 d, which w©'believe to bo tho highest pri=o paid for milk for butter-making in New Zealand. Owing to the failure of tho usual Australian, demand in tho winter months, and tho laTge amount of butter stored in New Zealand in anticipation of tho usual requirements from that quarter, the local market was glutted, with the result that prices were low during the past winter, and it is ncoessary to carefully watch tho Australian matJcet, m order to arrive at a fair conclusion as to tho beet means of disposing of our winter turplus. In'consequence of the failure of the market, although wo manufactured 120 tons more butter, tho money received' was about iIUUU lees than in tire previous year. The increased facility in «" P lrts of tllo ;v ™ d by "the cool stows must operate against the hi"h prices that we have hitherto obtained during the winter months, and farmers should seriously consider the season of the year for milking their liords .to the best advantage. At tho last annual meeting it was decided to pay milk suppliers tho balance of profit after paying fl dividend. Your directors 'hatf hoped' that a larger sum would have been available foe tow purpose, but tho. low prices ruling for tho winter months curtailed our profit. Tho sum of £1600 is the wholo of the profit loft after providing for depreciation, and- dividend as agreed upon of 8 por oent. rho plant for tinning buttor is now in our store ready for crcction, and, M, soon aa tho supply of tin arrives, which is on. tho way, wo shaul bo prepared to execute any orders in that form.. "Vffl hkoMo matoK arraitgemmto to mako tho biitw boxes required for out trado upon tho premise, and einect to mako n considernblo saving thereby. Owing to tho increasing competition which is now talcing place m tho butter market it is advisable that this company should manufacture a lirst-clliss article, and with that object in view it is advisable that all milk suppliers should heartily support tho company in tho direction of supplying their mill; to tho various creamcrie? in a first-class condition. As many complaints havo been made from time to timo about the test of the milk supplied I should iikc to point out that a considerable quantity of the milk comes to tho creameries in an uncooled state. Through the milk not being coolcd the butter-fat is not distributed through the milk, mostly floating on tho tops of the cans in a granulated form, and whilst m that state adheres to tho cans, and does not eo through the drip sample, and it is extremely doubtful if the company or the suppliers derive any benefit from it in that manner. If the milk was properly cooled there is no doubt whatever that the suppliers would get a better test and tho company a first-class milk supply, which is what it requires to enable it to manufacture the highest grade of buttor. To do this cooline of tho milk in a satisfactory manner _ I wouldi suggest that this, company assist caeh supplier with funds to erect wuulmills, dams, or other works necessary for the collection of ft good supply <» pter millc-oooling purpo&cfi and washing out byres, etc. The money so advanced, with interest added, could bo repaid back to tho company in monthly instalments, tedueling same off the milk accounts until paid; this loan to bo extended over a period to bo agreed upon at tho time of advance. I am surci if t-his matter was earned out ifc would bei work well done, and it woiikl pay the milk suppliers handsomely for tho outlay thoy would bo pofc to in oreciinof the works decided on. " To cany out this scheme it would he necessary to have the company's articles of association altered to take in this class of work, whioh, I think, could be >done if tho shareholders deem it advisable to go 'into this subject. After discussion, the report aud balance were unanimously adopted. The. retiring director® (Messrs A. M'FarJano ana R. Charters) were re-elected, and i Thompson (Taieri) was also. olected to the directorate. All these gentleman returned thanks for th'oir election. On the motion of Mr A. M'Kerrow, a hearty vote of thanks to tho managers was carried unanimously. After several questions had boon asked and answered satisfactorily a vote of thinks jrw «ocordod .the chairman