GREATER OUTPUT.

Pahiatua Herald, Volume XLII, Issue 12732, 24 August 1934, Page 5

GREATER OUTPUT.

DAIRYING AT RUAWHATA. AN INTERESTING REVIEW. The twenty-first annual meeting of the Mangahao Co-operative Cheese Company, Limited was held in the Ruawhata public school yesterday. A fair attendance of shareholders was presided over by the chairman, Mr R. Cl Yates. The report read as follows: “Your directors submit to shareholders the twenty-first annual report and balance-sheet and regret to record a very low level of values for cheese throughout the year; but for tjie heavy exchange premium the return to farmers would be extremely poor. Owing to good climatic conditions prevailing production liaS shown considerable increase, our output for the season being a record for the company. “Further payments for the season have been made during July of £d per lb butter-fat supplied from September to December inclusive, and 14d per lb from January to June inclusive. “Your directors recommend the payment of 4 per cent, dividend on capital : when all cheese realised (there still remains a quantity to be shipped) any further payment to milk suppliers will be determined.” STATISTICS.

Season ended 30th June, 1934: Milk for cheese-making, 4,142,3521b5, 182,7001 bs butter-fat: butter-fat separated, 9571b5; average test, 4.41 ; cheese manufactured, 464,1821bs (207 tons 5021b5) ; lbs milk to lib cheese manufactured, 8.921b5; lbs cheese to lib butter-fat, 2.54. In formally moving the adoption of the report and balance-sheet the chairman said: “I wish to review a, few’ items of the factory costs as it is on these.l feel that your directors are chieflv concerned and where our stewardship is to bo judged, as that is the only avenue of activity that we are in any way able to control. For the past three seasons the low prices ruling on the overseas markets have given dairy company directors much concern in the arrangement of advances. It has been realised that it was most necessary to keep the costs at the lowest possible level. Yet looking over the balance-sheet and manager’s report I notice that some costs have increased, which are mainly due to the high exchange on indent and the sales tax on our purchases here. In addition, cheese crates have increased in price which is one of the principal items *ff increased cost in manufacture.

“Wages and salaries have shown a decrease as well as fuel, whereas electric*- power has remained the same as the previous season, which reflects very creditably on the management, as on these items waste can very easily be practised. “The repairs and maintenance costs have increased hut you must realise that this is the company’s twenty-first birthday and repairs and replacements are necessary to keep the factory in efficient working condition. I am only briefly reviewing these items, as the manager lias prepared a detailed report an the manufacturing cost- and would like to give you some figures c! i:r ng the discussion on the t. “The increase in cheese mar.ulaetured is about twelve a cl a half tons and is accounted for by the favourable climatic conditions during the past season and probably more cows being milked. “During the* past season there has been a noticeable improvement in the quality of most of the milk supplied, owing to the cooling systems that most of the suppliers have installed and the milk grading that has heen carried out by the company and this has reflected in the quality of the manufactured article. “I hone that you will continue your efforts to improve the quality of the milk and thus help the manager and his staff to improve on the past season’s quality, as -no doubt quality should he your watchword and we must all endeavour to supply only the best of milk for the manufacture of ‘Mendip’ cheese. “I wish to thank suppliers for their loyalty and co-operation during the past season and trust that their support will be forthcoming during Jh e season before us. 1 regret to say that T do not see much nrospect for price improvement during the coming season and casts cannot be kept much lower, as all care has to be taken in that respect during the season under review, and until economic conditions improve in Europe and the Home land we* must take lower prices for our products. I wish to thank the directors for the loyal help and care that thev have given to the company during the past season. T also wish to thank the manager and staff for the efficient manner in which they have carried out their duties in the manufacture of our cheese and the care and attention given to the plant and buildings. T must again thank the secretary for his usual attention and courtesy from the of- % fice.

“In concluding mv report T sincerely hope that we may, in the near future, see the dawn of more prosperity for all and happier conditions ruling throughout the world.” Mr Yates then moved that the report and balance-sheet he adopted. Tt. was seconded by Mr C. H. Brown. QUEST! ONS ASK ED. Discussion followed regarding the water supply, members wishing to know whether the new bore would give more satisfactory water. The* manager, M/r W. E. Cook, said that thev would not know definitely until about six months’ time as at present the pipes were badly corroded and at present it was not a fair test. Mr J. C\ Hunter enquired as to what had become of the $d per lb deduction for second crude milk. Mr G. G. Tavlor explained that it had been merged in the consolidated milk fund Mr T?. O. Yates informed the •mooting that thev had exported 2,870 crates of cheese, including 21

crates graded seconds. Of this there was still 538 crates not sold. The report was then put to the meeting and carried unanimously. Mr J. S. Bairstow, the retiring director, was re-elected unopposed and returned thanks for the faith reposed in him. Mr L. D. Lovelock was re-appoint-ed auditor. SHARE CERTIFICATES. The secretary (Air G. G. Taylor) said that under the new Companies’ Act, if tlie shareholders so desired share certificates must bo forthcoming and asked the meeting to express their wishes in the matter. The general feeling of the meeting was that it was not necessary and where possible expenses should be kept down.