Wyodham

Southland Times, Issue 15053, 24 September 1901, Page 3

Wyodham

(FROM ODB OWN CORRESPONDENT. ) The annual meeting of shareholders in the Dairy Factory Company was held in the Oddfellows Hall on Friday night, Mr James Walker, chairman of directors, presiding. The annual report and balance sheet which wae submitted was considered very satisfactory, and the outlook for the coming season was 6aid to be good. The price paid for milk during the cheese-making period (October- June) was lOJd jor lb for butterfat, and for the winter month lid per lb for butter-iat. The cheese and butter maim- I factured was retaining its high prestige as a uniform article of the best quality. A pasteuriser had been procured and was now working in connection with the separator, so that by this means and the careful attention of suppliers in aerating the milk the objectionable flavour arising from winter feed should be a thing of the past. The output of cheese had increased during the season, and was a record to date. Mr Cunningham had continued to give entire satisfaction aa factory manager, and his services had been engaged for another term. The directors regretted having to record the death during the year of Air, George Orosbie. who had ably and conscientiously carried out his duties aa a director of the company. The vacancy had been filled by the appointment of Mr J. A. Dodd The directors recommended the payment of a dividend of 5 per cent on paid up capital. The retiring directors were Messrs Jas. Walker and \V . J. Winter. The revenue for the year by cheese sales amounted to £9459 j ia s'-ock £400 ; butter sales £203, in stock £70, a total of about £10,132. Expenditure £10,007, which includes a payment of £8511 for milk, and £1007 for manufacture, the balance being made up by incidental exexpenditure. A number of questions relative to the balance sheet ana the company's position were put by Messrs Doull and Foreyth, and were answered by the chairman and Mr J. McLauchlan, secretary. The report and balance sheet were adopted en the motion of the chairman. The retiring directors were re-elected. A motion by Mr James Milne, of which notice had been given, to write down the capital of the company from £3000 to £1500, divided into shares of 10s each fully paid up, and that clause 4of the Memorandum of Aseociation be altered accordingly waslostjOniy the mover voting for it. A discussion arose through Mr Doull stating that he was in favour of that part of the motion which provided for writing off tho uncalled capital of 5s per share ; and at the request of Mr James McGlinchey each of the directors gave his opinion as to the effects upon the company of such a course. All of them were averse to the proposal, as it would limit the powers of the directors in their dealings with the bank. Mr Robert Shields suggested that the milk suppliers should buy up all the shares. A shareholder said there would then be larger dividends paid. The Chairman said the suggestion would be a matter for future consideration, but regarding what had been said about large dividends, he considered the company had done remarkably well in paying on" liabilities amounting to over £600 within the past two years, it having been resolved that those liabilities should be wiped off before any further dividends were paid. Mr Foreyth said that a prior motion to the effect that a 5 per cent, dividend be paid when 3d per gallon had been paid for milk, had not yet been rescinded. He would also like to know if, when the cheese had been sold, the shareholders would be informed of the amount realised. The chairman was of opinion that tho motion referred to by Mr Forsyth had been rescinded, but regarding affording information to shareholders he would be ouly too happy to do so when such a course was not to the disadvantage of the company. Mr Doull read a long list of factories which it was stated had realised larger prices than the Wyndham factory. In answer to the Chairman Mr Doull said he was not in a position to say that all tho figures quoted were absolutely correct. The Chairman thought they were not, and ruled the discussion out of order. The meeting then closed with the usual vote of thanks to the chair. A meeting of directors was held immediately afterwards, when Mr Peter Campbell was elected chairman for the ensuing year. At a meeting of the Farmers Union, held on Saturday night, it was resolved to hold another meeting on Thursday next (sale day), when the Mataura Island branch would bo asked to co-operate iv the matter

of sending a delegate to the conference ~to be held at an early date. At a subsequent meeting canvassers were appointed in connection with the Pastoral and Agricultural Society's show it has been deoided to hold this soason. On Friday night the annual school concert was held in Atkinson's hall. Mr G. G. Kyfe, chairman of the school committee, was in the chair. There was a first-class attendance, and n capital programme of songs and music was successfully carried out. At the beginning the order of the programme had to be slightly varied owing to some of the performers not putting in an appearance until later in the evening. The features of the entertainment were school songs by the children, which woro very creditably sung, and a recitation competition, in which Misses Maggie Bogue and Mary King, and Master Willie Waters took part. Maggie Bogue and Willie Waters were awarded first and second prizes respectively. Mr James Pow, who until recently had been pupil teacher for a number of years, was the recipient of a very handsome and serviceable travelling bag, tho gift of the teachers and scholars ot the Wyndham school. Mr Pow acknowledged the gift in a neat, pithy and humorous speech. The occasion wn.s also availed of to present Saddler-Corporal McKay, and Trooper Beange with a gold Maltese Cross, suitably inscribed, the gift of the residents, iv commemoration of their return from the Transvaal war. Trooper Beange, owing to a slight indisposition, was prevented from being present, but Saddler Corporal McKay suitably responded and thanked the donors for their much valued gift. A very humourous play entitled " The Little Pickle" was splendidly performed by a number of the children, and great credit is due to Mr (folding who coached the young performers. Those who took part were Misses V. Pnull and Alice Milne, Norman Krasei", Lionel Goldiug, Charley Ive, Stewart McDonald and Tom Traynor. 23rd Sept.