KIA ORA DAIRYING COMPANY.

Poverty Bay Herald, Volume XLIX, Issue 16042, 1 February 1923, Page 6

KIA ORA DAIRYING COMPANY.

HALF-YE AREY MEETING.

There was a good attendance at the hau-yeariy meeting oi snaieiioiaers of tiic tv la ura -dairying Ca-operatne Lb., winch was hem in tilie wliero- hail to-day, Mr U. it. Moore, ilunrman of. directors, presided.

in his opening remarks tne chairman stated' that the capital account on dune i last on snares was £<sOf. 'lile pay-out | tor the year to dune, 1922, was Jc.oL,sbo, ! while for the last six months it was close on £4b,UOU. The latter was only £l2,Uai : short of the amount made during the i year 1922. Now they werei paying emy- : thing here and showing it on the eh eels. Previously the freights were paid at Home. They now had: an insurance : office, which cost them nothing, and for i the half-year 1 hey had made £llO 6s |on commissions. At Home they had 8000 I boxes of blitter on which, they expected : to have a surplus of up to £SOOO, which ' will bring the<ir surplus for the half* ; year to about £IO,OOO. Mr Moore then moved the adoption of the balance-sheet, i Mr Nicol seconding. I In reply to a question the chairman ; said he thought the grading of cream had ; improved.

1 Mr Patterson said, that the grading I had not improved the cream. “I know ' what I am talking about,” lie said’.

j Air Gallagher: The speaker is an Irishman, and you know Irishmen are very troublesome now.

Mr McCullough (a director) said that he knew that the grading of cream had resulted in the butter reaching a higher price at Home. The object- of grading was to get first) grade butter, but some suppliers were not sending in first grade cream.

’■ Mr Patterson: Mine is first grade.- I / send in good l cream. ' In reply to Mr W. T. Pitt, the chairman pointed out that it would! be about tho same for the company to pay the freight at Home instead of here, as at present. ‘ Capt. J. Tombleson said' it would pay them now to send money Home. In reply toi a further question the chairman said' the change had been made because they could 1 find' out clearly the costis of working. The company had 1 never refused an advance to anyone on tlic-flats who was in a good financial position, , stated, the chairman in reply to Mr O’Flaherty. Mr O'Flaherty named' one man to whom an advance had! been refuged. The chairman saidl the pompany luid no money to chuck about.' Mr Gallagher stated tliat the Kia Ora Co. liad turned) down no man. Co-opera-tion was a grandest thing in the world. Mr E. P. Roberts, another director, stated 1 that Mr hadl been well treated by the company. He hadl bought all hi? cows and had' no security toi offer the company when he started. The chairman reirretted that Mr t—~ name had been mentioned, In reply to a question he said 1 the Hydro-Electri? Co.’s shares would probably be written off at the yearly balance. Replying :tp Capt. Tombleson, the chairman said some of the butter sent Home had been drawn against. Capt Tombleson briefly complimented the directors on, the position of the company, wjiicli seemed toi him to he particularly sound. Tho adoption- of the balance-sheet wa? carried! unanimously.

The meeting then proceeded to discus? the proposal to erect, a new factory.

A vote of thanks to the chair closed the meeting.