OKITU DAIRY COMPANY

Poverty Bay Herald, Volume LXIII, Issue 19132, 29 September 1936, Page 6

OKITU DAIRY COMPANY

A CRITIC’S PRAISE “UNIQUE POSITION” During the discussion at- the annual meeting of the Okitu Co-operative Dairy Company, Limited, to-day, praise was given to directors, and staff by one who in tlie past, had severely criticised the balance-sheets. Mr. W. S. Black stated that the company’s position was unique, and great credit was due to the manager, secretary and directors for such a creditable showing. The company had raised its production from less than 100 tons to 481-2- tons- in six years and its payment -was the highest he knew of iu New Zealand. Neither did he know of such remarkable progress for a dairy company. Air. C. Cooper suggested that when advancing money to suppliers on their herds, the company should stipulate that the herds should be tested. The chairman, Air. E'. R. Renner, said that, the company advised testing, but did not. enforce it,. It wonld be to the fanner’s advantage to have the herd tested because the greater the value ot i tlie cows t!m greater would be the advance. i SEASON OPENS WELL

The secretary, Mr. 11. P. Hamilton, said that the present season had opened well with ah increase of 6 tons on the manufacture to date, equal to- 13 per cent. Tlie first payment under the guarantee was 13d, because the directors considered that winter production should bo paid at a higher figure than that for cither months. The directors had decided to cut their honoraria in half, and would meet- less frequently. In conclusion. Mr. Hamilton said that all dairy suppliers were entitled to attend the ward dairy conference to be held in Gisborne, on Saturday.

Mr. B. McColl commended the directors on making differential payments over , the season.

The chairman replied that he was in favour of differential payments, and said that other companies, some of them large concerns, adopted that practice. The motion for the adoption, of the report and balance sheet, moved by the chairman, Mr. R. It. Rentier and seconded by Mr. ‘G. Gordon, was earned at this stage. TJio three retiring directors, Messrs. E. R, Renner, E. JL Baker and G. 0. White, were re-elected unopposed. Mr. M. J, White was re-appointed auditor.

Mr. C. J. Hamilton, who moved Mr. White’s re-appointment, said that Mr. White had proved a very helpful adviser, giving the banking institution the necessary confidence in the company. Mr. Blaclc, who seconded Mr. White's 1 nomination, said that Mr. White had taken a lively interest in the company. The chairman’s honorarium was fixed at £125, the same amount ns- lust year. DIRECTORS’ FEES The directors’ fees provoked some discussion. One proposition was that the fees be the same as last year, £1 Is per meeting and 12s 6d per field day on the company’s business. Mr. Anderson said that the directors would now have to be more on their mottle than previously. Tlie, directors must look for other fields of study, say, for improvement, of farms and farm methods. The directors need not study the markets, blit should give more thought to other matters. The farmer was characterised in the comic strips' as .one. who was all work and no brains, hut, men who got up at daylight and went to bed at dark 365 days in the ‘year had backbone, and were the mainstay of llio country. The farmer directors who looked after their interests were deserving of greater fees than they now took, and lie regretted the inteiiturn to reduce tlie number of mootings to once every two months.

Mr. A. J. Hurry moved an amendment that the fees be £1 5s per meeting and 15s for each field day on the company’s business. Mr. McKay seconded the. amendment. Messrs. Baker and Hamilton said that (lie directors were satisfied with the present fees while the company was in the growing stage. On a vote being taken, the motion to allow tlie fees to remain as last year was carried.