SOUTH OTAGO

Otago Daily Times, Issue 25069, 10 November 1942, Page 5

SOUTH OTAGO

BALCLUTHA Kaitangata Patriotic Effort.—The All Purposes Appeal will benefit to the extent of £24 5s from an effort at Kaitangata on Saturday, which included a Wheelbarrow Derby and copper trail in the afternoon and a dance in the evening. Bowling.—Three games of progressive Doubles were played on the Balclutha green on Saturday. J. McNamara won the skips, with three wins, while J. Gold and L. Allan tied with two and a-half wins each for the leads. STIRLING DAIRY COMPANY MEETING OF SHAREHOLDERS The annual meeting of shareholders of the Stirling Dairy Factory Company, Ltd., was held on Saturday night. Mr Ivan Mosley 'presided. The directors’ report showed that the pay-out for the past season was at the rate of 18.125 d per lb for first-grade but-ter-fat and 17.625 d for second-grade. The cheese output for the year was 287 tons 17cwt. The milk sold, if converted into cheese, would have equalled 31 tons. A dividend of 5 per cent, was recommended. The financial statement showed that the credit balance for the year was £5536, and the loss in the pigs account £215 11s 3d. Satisfactory Season Moving the adoption of the report and balance sheet, the chairman said the directors had been pleased to be able to make such a fine pay-out this season. It compared favourably with any pay-out in Otago or Southland. Unfortunately, on paper, the pigs account showed a loss, but it should be remembered that the suppliers had received the benefit of £lO5 for whey, and but for that the whey would have to be pumped into the river, which would cost money. Difficulty had been experienced in obtaining supplies for the store which was run for suppliers, but it was pleasing to know that at the end of the financial year they had been able to make a rebate of 12 per cent, on purchases through the store. The tonnage of cheese manufactured represented an increase of 26 tons, and it was hoped that this improvement would continue. Tire report and balance sheet were adopted, and the retiring directors (Messrs W. I. Mosley and A. A. Jensen) were re-elected unopposed. The recommendation of the directors to pay a dividend of 5 per cent, was adopted. On the motion of Messrs A. Renton and J. Donaldson.* the remuneration of the directors was fixed at £IOO Instead of £l5O, the amount paid last year. Mr F. Cooke was reappointed auditor. Penalties for Shareholders

Prior to the annual meeting an extraordinary general meeting of shareholders was held, when a motion to penalise shareholders who did not supply their whole output to the factory was passed after some opposition. The penalties are to consist of the deduction of lid per lb butter,-fat while the company is manufacturing cheese or butter, and Id per gallon of milk while the company is selling milk. The chairman said the clause had been designed to conserve the supply of milk to the factory and prevent the bulk of the milk from going outside. Mr J. G. Weir said it was wrong that the factory should be asked to take the surplus milk after certain suppliers had supplied outside retailers. A motion brought forward by Mr P. PMcSkimming to restore proxy voting was defeated after a long discussion and a ballot. Mr McSkimming said it was an injustice to “ dry ” shareholders and also to those " wet ” shareholders who were prevented by sickness from attending the meetings. A proposal was made that postal voting be substituted, but the secretary said the meeting could not do that without notice of motion, which would require another meeting.