WAIKOTUITI DAIRY FACTORY COMPANY (LIMITED).

Otago Witness, Issue 2690, 4 October 1905, Page 22

WAIKOTUITI DAIRY FACTORY COMPANY (LIMITED).

The annual meeting of the shareholders of the above company was held in the Borough Council Chambers, Waikouaiti, ovi Saturday afternoon last. Mr G-eo. Maxwell (chaarman of directors) presided, and there were about 30 shareholders present. The report stated. — " Tour cjixiectors, in presenting this, the seventeenth annual report of the company, heartily congratulate the shareholders on the continued success of the factory since it© fouiidataoui in 1888. While the -number of suppliers is the same ac the precedang year, the amount of milk eiipplied is the largest yet recorded, as will be seen by the following figures- — Factory open from September 12, 1904, till July <jl, 1905. Milk received, 3,830,1111b (or 348,192 gallons cf 111b) yielding 146,7141b of butler fat, from which 371,732^ of cheese were made, equal to 1<56 tons — 'jeiiig 16 tons more than last season. The milk tests were slightly lower, varying frcm 3.0 up to 5.3. The price paid mrnthly was Sd per lb of butter fat. Till the middle of May the cheese was shipped to London on consignment and netted a little over 4|d per lb en trucks, and tihe balance of output wais sold locally. After payment of all accounts the surplus on the year's working is £1431 2s 3d, and out d this uiomi the directors have decided to pay a bonus of 2d per lb of butter fat for the whole past season to milk suppliers, and they also recommend that the usual dividend be paid to shareholders. At 2d per lb the total amount of bonus is £1222 12s 4d. and this will absorb most of the surplus. Mr W. Graiham having received an appointment ais cheese instructor under the 2\ow South "Wales Agricultural Department, Mr E. O. Wood, first assistant, was appointed manager in his place, and nis services are retained for the ensuing season. The directors a.re pleased to state that during the past year Mr Wood has upheld the high reputation of the factory, having won a first and three second prizes at the late Winter Show at Duncd'in, and holds the challenge cup for the year for coloured cheese, besides winning a second prize at Palnietfaton North show, and tihey take this opportunity of acknowledging their appreciation of the services of the manager and the other servants of the oompany."'

The balance sheet showed the total receipts for the year ©riding August 31 (including a. bslance of £'327 13s Bd> to be £7151 11s, and the 'expenditure £6193 Os 3d, leaving a balance of f958 10s 9d. Cheese i&ales for the. present season were £6113 8s 2<l, with outstanding accounts to the amount of £982 18s lOd stall to corao in. The amount paid for milk wag £4890 93 4d. and bonus £1222 12s 4d, which, v/ifch additional bonus below of £153, make® a total of £6266 Is Bd.

The Chairman, in moving the adoption of the report and balance sheet, said: I think ws may be very well pleased -with the results of last year's working. ¥c have been able to .pay about as high a price for milk as any factory in the colony, and at the same time carry forward a substantial balance to our creddt, out of which x the directors recommend an additional bonus\of £d per pound be paid as soon as outstanding accounts come in, making a total of lOJd for the season. As you are aware, the output for the incoming season until the end of March has been sold at 5 5-lGd, on truck, at Waikouaiti (equal to s|d f.o b.), the highest price, I believe, thai our factory has ever been offered for shipment to London, and you will Be pleased to know that under our new manager our make of cheese graded quite equal to other years. The factory has already opened, and the directors have decided to pay lOd per lb for butter fat, and if any surphis remains at end of the season it will be divided, as usual, in a bonus to the suppliers. The factory buildings are m very good repair, a septic tank has been erected, which it is hoped will be successful for the purpose, and a stone dram has been put in alongside the front of the factory to carry off surplus water. Larger piping has also been run to the Babcock te«icr, and the engine and boiler pitt into thorough working order for another season. The shareholders have a very valuable property in their hands, that has been of inestimable benefit to the district, of which they may feel justly proud. It remains for all to do their best in seeing that a plentiful supply of milk is delivered at the factory, and that- it be of good quality. To encourage Uiai %a$ t ihe Erectors Jjave sanctioned a ji&t

of recommendations to suppliers, drawn up by the manager, which will be printed and distributed at the factory shortly, md they hope the suppliers will a-ot as lecoinmcnded by the manager.— The motion was seconded by Mr Gilmour and cairied. Messis W. Hallani and J. Kendall, being the only two nominated for the vacancy in the directorate, were declaied duly elected by tho Chairman; and Mr C. Crocoine was reanpointed auditor. . It was decided to hold the usual social, and a telegiam was read from Mr Kinsella, Dairy Commissioner, saying he would be pleased to address a meeting on the suoject of dairying in Argentine and Denmark, with particular leference to tho improvement and testing of herds. A strong committee was appointed lo arrange for holding the social on the 9th. October. Mr T. Allcock drew attention to a letter which had appeared in the Times re the work of carting and packing, and ac expressed the opinion that tenders ought ;o be called for same. A long discussion followed, and Mr J. Maxwell moved that the -matter receive attention at next meeting of director.-?. Mr N. Stewart asked that the resolution passed at a former meeting be read, to the effect that as the work was well done, and at a reasonable rate, it was inexpedient to make a change. This was done, and Mr Williamson remarked that if the writer of the letter was a shareholder he ought to have attended the annual meeting and stated his case; but, if not a shareholder, he had no voics in th 9 matter. The subject then dropped. A vote of thanks'- to the chairman, directors, and: staff concluded the meeting.

A meeting of the directors followed, at which Mr George Maxwell was again appointed chairman, this being his fourth year of office.