THE TAIERI AND PENINSULA COMPANY.

Otago Witness, Issue 3994, 30 September 1930, Page 17

THE TAIERI AND PENINSULA COMPANY.

ANNUAL AIEETING. The fortj’-sixth annual general meeting of shareholders of the Taieri and Penin sula Milk Supply Company, Ltd., was held on Thursday, the meeting being attended by a representative number of shareholders.

The chairman of directors (Air William Robertson) presided, and in moving the adoption of the directors’ report, balance sheet, and accounts, referred at length to the operations of the company for the year under review. He mentioned that the year just closed was a difficult one owing to the fall in prices of dairy produce, arid the general financial depression. The season had opened well, and considerable early sales were made to Canada. This hardened the market, and good pr.ces were offered for forward early shipments "When the flush of New Zealand produce commenced to reach the Home market, prices collapsed, and had ever since been at a low level. What with the proposed Canadian tariff and European countries raising barriers against the importation of foreign butters, this had an effect or. the London tnarket. He referred to the absence of inquiry from overseas buj’ers to purchase the coming season’s make, and it looked as though producers could not expect the good prices that had been offering during recent years. The com-

pany still maintained the high quality of both milk and butter, and sales for the year reflected the good opinion held by the public of the service and quality of its products. The Dunedin factory was second in the list of grading factories for New Zealand, its average grade being 95.128, whilst Oamaru showed a marked improvement in grade. These results reflected credit on the company, and indicated the very high quality of butter manufactured and marketed. Special reference was made to the advantage of herd testing, and the speaker advocated suppliers either joining a herd' testing association or, if not convenient, to avail themselves of the services of the company. which was only too willing to assist suppliers, no charge being made for the work done. Producers were invited to take advantage of the financial assistance offered by the company for the purchase of milking machines, separators, topdressing manures, and purebred dairy cattle. Mr Robertson referred at length to the very sound financial position of the company. Substantia] repairs and renewals to plant and premises had been effected at both factories, which were equipped with the lateet and best plant obtainable. A further payment was being made to suppliers of butter-fat, and also for milk for town supply purposes. The report, recommending a dividend at the rate of 6 per cent, per annum, and the balance sheet were adopted. The retiring directors (Messrs A. J. Gall and William Robertson) were elected unopposed, and Messrs William Brown and Co. were elected auditors for the ensuing year.

At a subsequent meeting of directors Mr E. Y. Aitken was elected chairman for the coming year.