OAONUI DAIRY CO.

Opunake Times, 20 July 1937, Page 2

OAONUI DAIRY CO.

ANNUAL MEETING HELD GOOD YEAR REVIEWED The above meeting was held in he Oaonui Hall on Saturday ast, when Mr J. Young presided iver an attendance of 50 supjliers Before commencing the busi-

ness of the meeting, the chairman made reference to the loss suffered during the year by the deaths of several suppliers, in-

cluding some of the foundation suppliers, of the company, and a vote of sympathy with their relatives was passed. Sympathy was also expressed with Mr T. Fleming, who is in hospital at New Plymouth. Suppliers also passed a ' vote of sympathy with the chairman because of the death of his brother. Directors' Report

The season had been a good one for production and the intake of both milk and home separated cream showed a marked increase

on the previous year, stated the report. An automatic stoker had been installed at the main factory and a further unit would be installed at the Arawhata brand) in August. As estimated the final pavment made to milk suppliers for the season 1935-36 was 12Jd and to some separated suppliers llfd, leaving a balance to the appropriation account of £l7O 12s 3d, which was placed to depreciation reserve account. From the final estimated surplus due to milk suppliers the directors proposed to make further payments of 2.25 d a pound butter-fat, bringing the season's average (dieese payment on all grades to 14.196 d. Advances were made to home separated cream suppliers at lid a pound butter-fat and the directors proposed to make further payments of 2.125 d per lb butter-fat, bringing the season's average payment to 12.915 d per lb butter-fat for all grades. Interest on shares £56 4s 8d at the rate of 1 per cent, on the paid-up capital would be paid to shareholders and the balance would be dealt with when all accounts had been completed. Season's Statistics Following are the statistics, with those of last year in parentheses for comparison: Suppliers, milk 72 (71), cream*B (6); milk, 19,991,8501 b (19,728,310); !test, 4.31 (4.29); butter-fat 862.7321 b. (843,524.71 b); cream received, 334,7011 b (297,8091 b); test, 4366 (41.89): butter-fat, 146,1481 b (124,7581 b); total charges including repairs and depreciation up to f.o.b. per nound butter-fat, 2.6976<1 (2.6470 d); chees* making, 18,746,0101 b (18,485,690); test, 4.26 (4.25); butter-fat 799, 8281 b (787,0631 b); cheese, 2,023, 9071 b (2,001,4161 b); milk to one pound of cheese, 9.26 (9.23); average grade, main factory 91.949 (91.605), Arawhata 92.823 (91. 977), Kina 91.796 (91.864); milk ' grade, first 94.605 per cent. (95.366 per cent). Butter-making cream, 334,7011 b (297,8091 b); test, 43.66 (41.89); butter-fat 146,1481 b (124,758); creamery butter, 175,L981b (148,3601 b); average grade, 92,505 (92.646); eream grade percentages, finest 51.72 (94.54), first 47.75 (5.45), second .52 (nil). Whey butterfat recovered, 41,7121 b, or 5.21 pei- cent, of total cheese making butter-fat in cream sold to butter department, 62,895 (56,461.2).^ The accounts and statistics were set out in an entirely new form under the regulations, stated the secretary in a detailed review of the balance-sheet. He

pointed out that the company was now a shareholder in the Rennet Company and would in future participate in rebates. Since May 31 produce worth about £9OOO had been shipped and the bank balance stood 'it £5500, but after paying 2d that day on all butter-fat supplied, absorbing £BSOO, there would be a debit at the bank. Final payments would be made at a iatef date when final shipments had gone. "Wages showed an increase of .292 d a pound butter-fat and the over-all costs amounted lo 3.098 d, or a rise of .439 d on U-e previous year. Grading Results The position of the grade was as follows: 'Main, 4G51 crates 235 crates or 5.05 per cent, finest, 4385 crates or 94.28 per cent, first and 31 crates or .009 per cent, second; Arawhata, t 0.% crates, 3207 crates or 64.32 per cent, finest, 1759 crates or 35.27 per cent, first and 20 orates or .409 per cent, second; Jvina, ? 7 32 crates, 2099 crates or !*S.7!) per cent, first and 33 crates or 1209 per cent, second. Total J 2,309 crates, 3442 or 27.82 per cent, finest grade, 8543 crates oi 71.4? pel- cent, first and 84 crates, or .079 per cent, second.

The chairman urged suppliers to increase the supply, as the lactones were capable of handling increased output. The price now was good and he suggested that it should pay farmers well to use more fertiliser. Bv fertilising and draining the production of the district could he increased by from 25 to 30 r>er cent. The auditor,"Mr E. K. Cameron, gave an address on the bal-ance-sheet, stating that the new regulations, which he explained, had considerably increased the work of the .secretarial staff, which had carried out the work well. He commented on the sound position of the company. General Replying to Mr Reynolds the secretary stated that whereas Arawhata branch had shown a gain of £251 18s 9d by way of premium, that had been counter-

balanced at the main factory by a very slight increase in yield. The retiring directors, Messrs. G. Bevan, E J. O'Eorke, E. M. Gibson and E. L. Eustace, were re-elected unopposed.

Mr Guneron was re-elected auditor, the fee being increased from 20gns to 25 guineas. The chairman's honorarium was fixed at £SO, the same as last year. Votes of thanks were accoreded the secretary, Mr A. J. Brennan, and staff. Those present were entertained at luncheon bv Mesdames G. Brown, E. L. Eustace, S. M. Coombe, P. Williamson, A. Mc Dougall, Misses .J. Gardner and S. Clegg.