OWARE FACTORY

Southland Times, Issue 19347, 12 September 1924, Page 2

OWARE FACTORY

ANNUAL GENERAL MEETING. (From our Correspondent. The annual general meeting of the Dware Co-operative Dairy Factory Company, Ltd., was held in the factory, Oware, on Wednesday, when there was a good attendance of suppliers and shareholders. Mr John Smith, Chairman, presided. The directors submitted the following report : “The output of cheese for the season under review was 147 tons scwt, as against 1354 tons last year—an increase of 11 tons 15 cwt. 22| tons of the above were sold to Messrs Wright Stephenson and Co., at 9 5-Bd, Bcwt was disposed of locally and to suppliers, and the balance of the output was consigned through the N.Z. Producers' Marketing Association, Ltd., to the open market at Home. Advices to hand show that sales have been made at from 83/- to 93/ equal to 7 l-5d to 8 l-5d f.ob. Bluff, and a good sale is anticipated of the balance unsold.

“The milk dealt with at the factory reached the high figure of 3,402,0031b5, yielding a return of 121,7681bs butter-fat (an increase over last year’s figures, which were 3,066,7731bs milk, and lll,Ol(Mbe butterfat). The average test for the year was 3.57; 10.3ibs milk produced 11b cheese; 27.9 lbs of milk gave 11b butter-fat; lib butterfat produced 2.7141bs cheese. “A payment of 1/3 per lb butter-fat has been made to suppliers to date. As the cheese for which returns were not to hand at date of balance-sheet has only been taken into account at amount of advances received (approximately s|d per lb), it is confidently anticipated that when final returns are to hand a further payment will be made to suppliers. “The factory buildings and plant have been well maintained, and to enable the pasteuriser to be more effectively worked, and to effect a saving in the fuel bill, your directors recently decided to have installed a new 30 horse-power boiler. The boiler is now installed, and will be ready for use when the season opens. “A dividend of 5 per cent on the paid-up capital of the company is recommended.

“Messrs Charles M'Kelvie and James Millar retire from the directorate, in accordance with the company’s articles of association, and, being eligible, they again offer their services for another term. The auditors, Messrs Cuthbertson and Webb, also retire, and seek re-election.

“Thanks are extended to the factory staff whose efforts throughout the year enabled the necessary work to be efficiently carried out.** The Chairman said that the directorate regretted that they were unable to make such a good report as the previous year. Only 1/3 had been paid out to date, and thfe anticipated further payment would depend on the price realised for the cheese still in England. The Chairman reported fully on the results of various consignments, stating that just recently the last three shipments had been sold at 8 5-8 d f.0.b., and that there were still 319 crates in store in England to be sold. The cheese for which returns were not to hand at the date of the balance-sheet had only been taken in at the amount of the advances, and any surplus realised when the lots were cleaned up would be paid to suppliers. It was gratifying to report a further increase in the amount of cheese manufactured. The raising of the grade by the Government was a move in the right direction, and everything possible by all concerned should be done to keep the quality of their produce right up to the highest standard. September-October 1924 output had been sold at 8 7-Bd. In connection with the Control Board, the Chairman reported that they had already been able to secure a good concession on marine insurance rates. Expenditure of the factory had been very heavy during the last two years, but the factory was now up-to-date in every respect, and the expenditure in future years should be light. Of

course, the cost of production was higher the smaller the factory, and it was therefore very desirable to increase the output. Cartage and railage were both heavy items, A factory producing 149 tons of cheese, and having only 15 suppliers was a position to be proud of. The fuel account, now that the new boiler and superheater had been installed, should be lighter next year, and repairs and maintenance should also be less. Finance had been gone into carefully, ac 4 toe Chairman reported that satisfactory arrangements had been made. The Chairman moved that the report and balance-sheet be adopted. An amendment was proposed that the clause recommending a dividend be deleted, and that no dividend be paid. Several persons spoke on the amendment, and it was pointed out that all shareholders benefited at the expense of Suppliers by the company’s assets being improved and added to. On the amendment being put to the meeting, it was carried. OTHER BUSINESS. It was decided not to support the Dairy Instructors scheme. The election of directors was then proceeded with, Mr E. Frame nominated 'Mr Charles McKelvie, seconded by Mr McDonald, and Mr Neil McKelvie nominated Mr James Millar, seconded by Mr Dooley. Messrs McKelvie and Millar were declared elected. Both gentlemen returned thanks. On the motion of Messrs C. McKelvie and T. Mcßride, Messrs Cuthbertson and Webb were re-elected auditors. The Chairman was voted the usual honorarium, but while thanking the shareholders, he firmly declined to accept any honorarium this year. The Chairman spoke in complimentary terms of the management of the factory manager during a trying season, and moved a hearty vote of thanks to the manager, staff, and secretary. Both manager and secretary returned thanks. OPENING OF SEASON. i The new boiler and superheater being now ready for use, it was decided to open on Saturday, September 13.