KIA ORA DAIRY CO.

Poverty Bay Herald, Volume LXIII, Issue 19122, 17 September 1936, Page 6

KIA ORA DAIRY CO.

THE ANNUAL MEETING ANOTHER BIG GATHERING OLD FACES ABSENT The thirty-fourth annual meeting ol the Kin. OnL Co-operative Dairy Company, Limited, held .in the A 1 akarakaUaiawhero Hail to-day, was attended by about 2CO shareholders, including more ladies than usual. The chairman of directors, Mr. M. Doyle, presided. The report, already published m the Herald, and the balance sheet, were adopted, with the amendment- of the Huai payment, recommended from 2d to lid per'lit. on bmterfnl, Notable absences from the meeting included the late. Mr. W. McCulloch, who was a director, and a motion of condolence was passed with the widow and son. Another .absentee was Air. G. H. Moure, past chairman of directors, and Mr. W. A. Evans, factory manager. Commenting on these absentees, Mr. Doyle said that. Mr. Moor© was ill. and was ooniined to hod, but still took as much interest in the company to-day as he did in the past, Mr. Evans was also side, and was m hospital, but was expected out at the cud of the week. Mr. Doyle moved that letters ot sympathy should bo scut to Messis. Moore and Evans, wishing them a speedy recovery. Mr. L. Smith said he felt keenly the absence of his old comrade, Mr. CL KMoore. The directors had put. in all thdr time to build up a. company which stood out as one of tilt- most successful, and the old faces were missed from the mooting. . , The mooting carried the motions of svmpathy unanimously. GUARANTEED PRICES Moving the adoption of the annual report, and balance sheet, with the amendment regarding final payment, Mr. Doyle said that with the introduction nf "the guaranteed price, it was more (ban ever necessary to put out a ijiialilv butter so as to secure the premium for butter graded 04 points or over ami to escape the penalties on lower grades. A large proportion of the butter last season graded 94 points and over, and would 'iiuvc received the premium.

’I i nmpaiiy's reserve funds, he added, were still in a very brail by position. A sum of £3500 had been refunded to the reserve, this fund now standing at £6758, which with further sums at the company’s disposal, brought the total moneys in reserve up to 00.352. The company's, £.l shares are now worth .Cl 10s, and the plant was undervalued in the balance sheet. The stair had given excellent service, both the factorv and office sections.

The number of suppliers to the company bad been- reduced, Alt'. Doyle added, due not so much to dairymen going into sheepfarming as to sheepfarmers who became dairymen in the siiunp going hack to sheepfarming exclusively.

The report, and balance sheet were adopted without much comment. The retiring directors, Messrs. 11. M. White, 11. F. Robb and <T. Davenport, were re-elected unopposed. Messrs. Graham and Dobson were re-appointed auditors.

The honorarium for the chairman of directors was increased by £SO to £2OO. Mr. A. Lister, moving in this direction, said that, only Hie directors knew; what the chairman of directors did, and Air. Doyle must be much out of pocket as a result of his activities for the company. INCREASE IN COSTS Replying to a questioner who suggested that a fourth giader should he appointed, Mr. Doyle said that the recent legislation would necessitate the appointment of four additional men to the factory, with the result that costs would rise, and any additional appointments must, be viewed seriously in order to keep down costs to as low as possible a. level. He did not know' yet wlmt extra cost the new legislation .would entail, but the secretary, Air. ,T. 11. Sunderland, had made a rough 1 1 estimate.

Mr. Sunderland said that the dairy companies now knew what they would receive, for exports, hut did not know what the local sales receipts would he. However, allowing for Id per 11> for local sales and an increase of 20 per cent in costs from 1.62(1 to 1.98 d per lb of butter made, the company would lie able to pay to suppliers from Is Id to Is lid per lb.

Air. Doyle said that this month the company would pay out Is per lii. As they went along, the company might be able to pay more, but the balance at tinclose of the season would be paid out as a bonus to suppliers. The bonus next year should be made available much sooner than Ibis year.

.Mr. W. d. Lee, dairy produce {trader and instructor, when asked to address the meeting, congratulated the factory on the quality of its butter, but said tiiat if was no so good that it could not be improved, lie urged suppliers to thoroughly scrub a can on its return from the factory. Cream must- be adequately and quickly cooled, and as under the guaranteed prices payment, for butler would be on a quality basis, suppliers must, be careful with the quality of the cream. Even during a very hot: spell, it was possible to get cream to the factory as finest quality. The Kia Ora reports from England this year had been particularly good. Poverty Pay should be able to turn out butter that was choicest all the time.