OTARA DAIRY FACTORY

Southland Times, Issue 22107, 30 August 1933, Page 9

OTARA DAIRY FACTORY

ANNUAL MEETING. (From Our Correspondent.) The annual meeting of the Otara Dairy Factory Company Was held on Saturday. Mr G. Jennings, chairman of directors, presided over an attendance of fourteen shareholders. The annual report was as follows:— The directors have pleasure in again being able to report a successful year’s working, notwithstanding the very low price for the sale of cheese. The prices at the beginning of. the season were fairly good, and we sold the first two months at 6jjd, but we were unable to get this price later, and as the season advanced it was hard to get a reasonable price. We therefore de-

elded to consign, but, as prices being realized were so low, we again decided to sell part of the white make. The best offer was 4Jsd, which we accepted, at the same time consigning the coloured. In May, however, prices improved, and we sold the remaining unshipped at sd. The prices realized during the whole season turned out better than we anticipated, with the result that we have been able to pay suppliers lOd for the first three months, and 9,|d for the balance of the season. The working expenses .have been kept as low as possible, but the coal strike meant a heavy increase in our costs. The most satisfactory part of the season’s working has been the large increase in the supply of milk, 698,8581 b milk, 28,0441 b fat, and 29 tons 16cwt cheese being the increase for the year. This is very en-

couraging. The plant, however, was hardly capable of carrying out the Increase, and we had to purchase new plant to cope with the requirements. It will be necessary to make further purchases of plant for the incoming season to enable us to carry on successfully. At the start of the season the directors considered that a petrol pump would be of use to suppliers- We decided to install the pump and are pleased to be able to record the fact that the pump has been managed successfully, has enabled suppliers to get their petrol at cost price and, after paying all cost of installing, has a profit for the season. The work of the staff has been carried out to our entire satisfaction, and reflects credit on the manager md all concerned. The incoming season will see many changes in the handling of milk. The new Gov-

ernment regulations are now to hand, which briefly summarized are to the effect that milk will have to pass a satisfactory test every three days, that any milk graded second class will be paid at the rate of id less than the first These are Government regulations, and we will have to adhere to them. In moving the adoption of the report and balance-sheet the chairman stated that the season had been a very difficult one for the directors to decide as to the best methods to pursue to obtain the highest market price for the output At 6 l-8d the season had opened well, but as the subsequent offers were so very poor it was considered advisable to send their cheese on consignment. The prices realized for consignment were so poor that it looked as if the only thing to do was

, to sell for the best price. The whole > season had turned out better than they . expected with the result that they had ; been able to make a satisfactory pay- ! ment to suppliers. Complimentary re- ■ ference was made to the work of the . manager and secretary. ■ The report and balance-sheet were ■ unanimously idopted. The election of directors resulted in Messrs C. D. Boniface and A. Ericson ' (retiring directors) and James Blair 1 being elected for three years. Messrs Scandrett and Sons were reappointed ’ auditors. The new dairy regulations were fully ; considered and it was decided that the results of the tests be posted to the factory for suppliers’ information and that the form of testing be held oyer for the manager to make further in- , quiries.