OKITU DAIRY CO.

Poverty Bay Herald, Volume LIX, Issue 17871, 30 August 1932, Page 3

OKITU DAIRY CO.

THE ANNUAL MEETING INCREASE IN SUPPLIES The second annual meeting of the Okilu Co-operative Dairy Ooinpany, Limited, was Held to-day. Mr. .I*l iw Renner, qliqii-man pf directors,, presided over, an attendance of about 26 shareholders. . Moving the adoption of the annual report and balance-sheet, reviewed in.the Herald last week, the chairman said that the figures showed a .very satisfactory ,?t;ite of affairs. The two seasons over which tlie company had operated \vere opes of difficulty of, financial strpss well, as of climatic, conditions,, while the drought culminated in a flood. It was pleasing, therefore, that the company Was able to show such a satisfactory state of, affairs. The factory had. shpw.p an increase of 55 per cent, in tonnage, and the indications were that the supply would appreciate by another 50 per cent, this season. One of the extended .fields of supply was .Nuliaka,. where farmers had asked the Okitu company tp accept supplies in view of the inability of the Nuhaka cheese factory to. finance the conversion of its plant for the.manufacture ot butter.,, In addition, _j.be Qkitu company’s payments had , been amongst the highest in New Zealand. Efficient management, a desire to give service, fair treatment, and civility to suppliers were factors in the extension of the activities of the company, he added, The company was up against competition,, and (lie only way to foster further expansion was by. good .service. A small factory, efficiently, controlled, should be able io jiay better than a large one. The Okitu factory was one that could be, worked very economically. “During the season,” he added, “w’fl shipped our butter both to London ancl West Coast ports with satisfactory results. We have made a practice of meeting tlie market regularly, and have always obtained the highest market quotations and on several occasions we have received a premium for our brand, of which good reports have, been received. We, intend to continue our policy, because the Englishman, likes to deal with those companies that will meet the market.” , . . The fihairnian urged,on the suppliers jo send in, only the. best, cream., One (tilthority had.maintained that the host blitter in England came from the countries with the best pastures. Tim Gisborne district had a good climate, and if the suppliers kept the pastures in good condition they should be able io send in the best quality cream. During the season, Mr T. It. Jones had been elected to the directorate, the chairman said. Mr, G.,,1. White seconded the adoption of the report and balance-sheet. In reply to a qpestion in regard to the bonus payment, the chairman said this was to be havl only to shareholders, but on all grades of butterfat. Referring to the Nuhaka supply, the chairman said that (he supplier? .there would pay up to -Jd per lb. for, cartage, and in cfis.es. beyond Nuhaka where tlie cost might bp,ld.per lb., the company would pay 1(1 towardsdhe cost of cartage. Some of the,,Nuliaka.people joining with the company were cojif}i(lc.riqg the establishment of a buying agency in Gisborne so as to obtain goods' front the town. The. report and balance-sheet were adopted, without .further discussion. , In re’ply to a questipn Mr T. oordon, who said statements had been circulated that Vesteys had an interest ju the cofiiptiny, thq clminnuii said that •.here, was no' truth in .the. statement at all. The rumor .apparently arose from the fact that one of the Vestey.s was n’t 'Olio time a director of the National Bank, through which the company did its business. It. was ridiculous, however, to .suggest that the Vesteys controlled the bank or that the bank controlled the company. Mr €. J. Hamilton .pointed out that only bona fide dairy farmers, could possibly hold shares in the company. Tlie ’ retiring directors, Messrs,. •J. Higgins, C. ,1. Hamilton and 11. Swainson’, were re-elected unopposed. ■ Mr M. J. White was re-appointed auditor.