WAVERLEY DAIRY COMPANY.

Patea Mail, Volume LIII, 10 August 1932, Page 3

WAVERLEY DAIRY COMPANY.

ANNUAL MEETING, The annual meeting of the Wavcrlcy Dairy Company was held on Monday, Mr. W, Macfarlane presiding over an attendance of about 40. The annual report and balance-sheet, as published in Friday's issue, were read. In moving the adoption of the report the chairman explained that as was tho ease with many other factories there was a decrease in output due to climatic conditions, nevertheless the factory had done as well as most of the other factories on the coast. Payments for butter-fat to date had totalled lljd, and a further payment would it was hoped be made on the completion of the sales. Ho was pleased to say that the cost of manufacture had dropped from 3.30 d per lb butter-fat to 3.Odd. The total expenses up to f.o.b. including repairs and depreciation showed a decrease of £1230, equal to a reduction of 21 per cent, on the previous year. The excess of liquid assets over liabilities showed an improvement of £445 on the previous year. In conclusion, Mr. Macfarlane said things were already brighter, and ho hoped they would still further improve in the near future. Mr. C. Southcombo asked why the cost of fuel was greater this year than last. The chairman explained that it was due to tho slack coal purchased which had not much heat in it. The coal had been purchased at a reduced price, but the large amount of dirt in it more than counterbalanced the saving in price. In reply to a shareholder the chairman . said that the company could not reduce charges by railing to Wanganui. The freight charges from AVanganui to Castlecliff were more than the cost of sending through Patca. It was very questionable whether it would be cheaper to send their produce direct to the overseas vessels at New' Plymouth. In reply to Mr. Jeffries’, the chairman said it had paid to make a small quantity of butter in the past. Mr. Jeffries contended that costs would be less if the cream were sent to a butter factory. He moved that it be a recommendation to the directors to discontinue butter-making. Mr. AV .H. AYatkins, in seconding the motion, stated that a 10-vat factory north of AYaverley had found it more economical to send the cream to a butter factory. Mr. F. Johnston said the directors had already given attention to tho matter, and the manager had also called their attention to the possibility of economising in the direction suggested. The resolution was carried.

It was resolved on the motion of Mr. Metcalfe that in future no differential payment be made with regard to grade of milk supplied. He stated that they had turned out a fine grade of article during the ye,ar and he thought i

suppliers would maintain their high standard.

A hearty vote of thanks was accorded the manager, Mr. J. F. Nicholls, and staff for the excellent work carried out by them during the year. In thanking the shareholders for the resolution, Mr. Nicholls said that the quality of the cheese depended to a large extent on the suppliers. If they cried out for a greater yield, the quality of the cheese suffered, as the ■manager endeavoured to meet their wishes. He was glad to see that the suppliers desired quality and not quantity. The election of directors resulted in Messrs. A. Morrison, C. Staito, and B. Parkinson being nominated, the two former being returned. The chairman referred to the splendid record of service of Mr. B. Parkinson, who had been a director of the company for 21 years. No man, he declared, had done more for the suppliers than Mr. Parkinson.

It was unanimously resolved on the motion of Mr. Smith, seconded by Mr. Southcombe, that the meeting place on record its appreciation of the valuable services rendered by Mr. Parkinson in the past. Mr. T. T. McKenzie was re-appoint-ed auditor, and the chairman was granted an honorarium of £lO and the directors’ fees were fixed .at 10s for each meeting. At a subsequent meeting of directors Mr. W. Macfarlane was re-elected chairman.