TAIERI & PENINSULA MILK SUPPLY COMPANY, LTD.

Otago Witness, Issue 3889, 25 September 1928, Page 22

TAIERI & PENINSULA MILK SUPPLY COMPANY, LTD.

ANNUAL GENERAL MEETING. The forty-fourth annual general meeting of the Taieri and Peninsula Milk Supply Company was held on Friday. Mr Alfred J. Gali, chairman of directors, presided. Before proceeding to the business of the meeting the chairman made reference' to the death of the late Mr William Nicolson, of Hampden, who passed away on April 1 last. Mr Nicolson at the time x of his death was one of the oldest shareholders. For' over 20 years he was a director of the company, occupying the position of chairman on several occasions. A motion of condolence and sympathy to members of his family in their bereavement was carried in silence. The chairman apologised for the absence of Mr William Robertson, one of the directors of the company, who had been granted leave of absence to take a trip to Great Britain. Mr Robertson is due back in New Zealand at the end of the month. In moving the adoption of the report and balance sheet, the chairman stated that it gave him great pleasure to advise shareholders that the company had had another very successful year. The manufacture showed a considerable increase over the year previous, resulting in a 1000 ton output of butter. For the year under review free marketing again operated, the Control Board having ceased absolute control as from May, 1927. This meant that the marketing of dairy produce was left in the hands of company directors. The policy of the company had always been in favour of free marketing, and it gave him pleasure to advise that this once again applied. A further payment to suppliers would be made in r the first week in October, at the rate of per lb butter-fat on all supplies for the 12 months from July, 1927, to June, 1928. Suppliers of milk for town supply, in ‘addition to receiving this payment, would also receive a further payment of id per gallon on all milk supplied for, the months January to June Returns to producers for butter-fat supplied showed an increase of approximately 2d per lb over the 1926-1927 season. Provision had been -made in the accounts for the payment of a dividend at the rate of 6 per cent, per annum. During the year quite a considerable amount of new plant was installed, and considerable repairs had been effected. The plant and premises at both Dunedin and Oamaru were in good order, the plant being one of the most up to date in the Dominion. A glance at the balance sheet would show that the figures were indeed conservative. It gave him very great pleasure to advise that the Dunedin factory had again won, for the third time in succession, the South Island Dairy Association Grading Championship, having the highest average grade for the South Island. In addition to this, he was pleased to say that the Dunedin factory was second for New Zealand in the list of average grades of dairy companies for the whole of the Dominion, with an average grade of 94.57 points. This was a very great honour, and went to show that this old established company was still leading in quality and output. The outlook for the coming season, for both butter and cheese, was quite promising. Each year additional numbers of producers were rising purebred sires, a still greater number adopting herd testing, whilst the use of top-dress-ing manures was now more general. Attention to these improvements by suppliers must necessarily mean increased production. He stressed the advantage to be derived from these improvements. The past winter had been a particularly mild one, and on the average the herds would come in this spring in very good condition. Under these circumstances production would be greatly helped given a reasonable season. He asked that shareholders and suppliers maintain their loyal , support to the company ,as the success of the company depended upon their attitude. The company was purely co-opera-tive working in their interests, shareholders and non-shareholders receiving the same The company’s dbject now was, as it had been during the past 44 years, service in the interest of the dairy farmer. They could with pride

look back, knowing they had been a real factor in the development of the dairy industry. The report and balance sheet were adopted, and accounts passed for payment. The retiring directors, Messrs Alfred J. Gall and James Fairbairn, were reelected unopposed. Messrs William Brown and Co. were elected auditors for the ensuing year. At a subsequent meeting of directors, Mr A. P. Fleming, of Otokia, was elected chairman for the coming-year.