AUCKLAND DAIRY ASSOCIATION. AUCKLAND, August 28.
The fifth annual meeting of the New JZealand Dairy Association was held this "afternoon. Mr Wesley Spragg (chairman of directors) presided, and there was a large attendance of shareholders. The directors* annual report congratulated shareholders upon the exceedingly satisfactory year's business and upon the generally excellent financial position of the company. In the course of "his speech, in moving the adoption of the report and balance sheet, the Chairman said the reports had been good reading. They indicated a record for the company In every way. In five years they had paid £23,000 off the debenture account. They also had £2463 in hand towards its further reduction. In addition to this they had actually paid fon- an increase of property of the value of £9964.. This' latter consists of new purchases, new creameries, new plant, now cottages, extension, etc. In further addition they had to the credit of the seif-insuranoo *und £1500, and a reserve fund of £3213. All these sums together- represented net values which had 'been at the rate of £8000 per o-nnqmy and which in five years h?d reached a total of over £40.000. In addition to these sums the company's property had, in sympathy with the general prosperity, increased in value by several thousand pounds. The markets other than English and local were gradually expanding. This was espeeiallv the case with South Africa* and South Sea Islands. They were carefully fostering both these outlets. He had for years past given it as his judg-
ment that dairying in New Zealand was a permanent institution, and each successive year had confirmed thet judgment. The pr.et season's prices were a record. The prospects were " that next eeaeon's prices would be as good, indeed it was a eeneral expectation that they would be very much better. The report and balance sheet were adopted
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Bibliographic details
Otago Witness, Issue 2738, 5 September 1906, Page 11
Word Count
310AUCKLAND DAIRY ASSOCIATION. AUCKLAND, August 28. Otago Witness, Issue 2738, 5 September 1906, Page 11
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