FRIGES ON THE RISE.

Pahiatua Herald, Volume XLI, Issue 12428, 22 August 1933, Page 4

FRIGES ON THE RISE.

QUIET OPTIMISM. NORTH TIRAUMEA FACTOR V. Shareholders of the North Tirauluea Co-operative Dairy 7 Co.. L?d., met last evening at the residence of Mr G. D. Kearney, factory manager, for the annual meeting oi tlie company'. The chairman of directors, Mr Joseph Rose, presided. . Due. probably 7 , to the very' w*et night the attendance was not quite so large as usual. The chairman said that since the last meeting they had lost one of their directors and a former chairman, Air Samuel Bolton, who flail been with the company since its inception 19 years ago. His passing meant a great loss to the company as he was one of the founders. He moved, that a vote of condolence lie passed and this was done, the meet— f ing standing for a few moments in silence. The report stated : *“lt is satisfactory to record that we were in a position when final account sales were to hand last year to make a further payment to suppliers over the whole of their supplies, bringing the average payment uji to lljd per lb. “For the past season the av< r. ge pay*ment for butterfat will reach ;*d j.ei lb. for all supplied, and meanwhile payments will be made at the annual meeting on the mrntlie of February, March and April which will bring them up to 8d per lb. The highest monthly advances made reached lid per lb. “The factory has been maintained in first-rate order at a minimum of cost, and it is satisfactory to record that reports from Home on our cheese are complimentary to the manager and suppliers. There is still room for improvement in tile quality of milk supplied, and it is earne-tly hoped that all will strive to reach the highest standard.” STATISTICS. Alt J k for cheesemaking. 3.831.814 lbs, milk separated 51.021 lbs. butterfat for cheese 165,770 lbs, butterfat separated 2.058 lbs, cheese made 415,305 lbs (185 2-5 tons), milk to 11b cheese 9.22 lbs, cheese to lit butterfat 2.505 lbs, average test 1 32. The chairman, in formally moving the adoption of the report and bal-ance-sheet, said that all knew it had been a bad year without his emphasising the fact. He was not able to offer any- predictions as to future prices but they were nothing startling at the present time. Production last year had increased. A greater quantity of cheese was made. There was also a noticeable improvenn nt in the quality- of the milk. Til- >verage test had been a record f* • she company—4.32. The costs were all down and the grade up. The secretary (Mr J. G Brechin) said the costs were down to bejawk and the quality of the cheese was definitely. up. Xo second grade was manufactured last season The chairman said the pav-out. would average 9d which compared very favourably with most other factories. The manager said they might get a big price for the quantity unsold to bring the pay-out up to lOd. Air \\ . Olsen said they would have to run a bigger over-run. The chairman: “If you read the test down a couple of points \ou get another id per lb. on the pav-out. But you can’t have your cake and eat it.” Continuing. Air Rose said the factory and all the plant had "been well maintained. It was second to none in the district. The manager ought to be congratulated on the state the factory was in and the ti ay- he kept it. Everything was as good as new. All- W. Fulton seconded the motion for the adoption. The secretary said it was quite evident from the various coi.ip.o \ s balance-sheets that either prices li d to be raised or there bad to bo a levelling down of costs. He believed i- rsonally that the time had arrived for prices to take an upward curve. The surest sign was to watch stocks and shares in the Old Country. Bix months ago the Stock Exchange was selling no industrial stocks lint today these stocks were being rushed. Shan S ill cotton and woollen in lis and the like were being looked lor and people were expecting a renewal of activity in this direction. Such activity meant more monev among the workers to buy butter and cheese. Cheese to-day was worth 2d per lb. ou butter-fat' more than butter and if the butter quota came and the farmer changed over to butter from cheese butter on tlie local market would be an absolute drug. The report and balance-sheet were adopted. The retiring director Air Charles Rone, was re-elected unopposed. Air G Godfrey Taylor was re-ap-pointed auditor. On the motion of the chairman a. hearty vote of thanks was accorded the manager secretary and staff. Air Brechin, in replying, paid a very warm tribute to Air G. D. Kearney. “a first-class manager ” Air Kearney thanked tlie chairman, directors and staff for the assistance given him throughout the rear and the suppliers for bringing such good milk. The cost of supplying hot water to suppliers at the factorv was broached by Air W. Fulton. who wondered whether it was necessary to provide the service now that the new Dairy Regulations compelled each farmer to instal a hot water service at his milking shed. Tlie cost to the factory at present was about £1 per week. ■Some suppliers favoured the retention of the service at the factory as their own hot water service did not provide an adequate supply. All- Kearney said he knew that some of the electric installations at the sheds were mit- giving satisfaction according to different suppliers whereas others were 100 per cent, efficient. Air J. G. Brechin; “It is up to the Power Board to look into it ” At tlie conclusion of business Airs Kearney provided a x-erv appetising sup|ier for all and it was mud/ Appreciated.