GOLDEN BAY CO-OPERATIVE COMPANY.

Colonist, Volume LVII, Issue 13872, 14 September 1915, Page 3

GOLDEN BAY CO-OPERATIVE COMPANY.

ANNUAL MEETING

(From Our Own Correspondent.)

The 13th .annual meeting of the above company . was held on .7th September, when some eighty shareholders and milk suppliers were present. Mr B nrank Page, chairman of directors; presided and all directors were present, also the secretary and the factory manager. The report and balance sheet showed tliat the past year was a record in every way —more shareholders, more suppliers, bigger output, and o, bigger profit than ever before. During the past year 8,188,114 pounds of milk, and OG ; CS*6 pounds of cream, were received at the factory and creameries, with an average test of 3.9 milk and 38 cream, producing 356,9321b5. of butter-fat from which was manufactured. 423,449 pounds of butter (189 tons), giving an overrun of 18.35. The amount of butter made was 20 tons in excess of the previous year. All butter was passed as first grade—the graders' notes showing an average of §3.48. The called up capital of the company is €3000, ami tho.net profit iior the past season was £3299. One doubts whether many other concerns in New Zealand could show a better balance sheet.. It was decided to pay a bonus of .3d per pound to suppliers, for butter-fat supplied, a. dividend of 5 per cent on. paid-up capital, and a bonus of 8 per cent on wages to all employees.^ The retiring directors were re-elccta without opposition. The chairman, in mon--ing the adoption of tho report and balaiice sheet, paid a high tribute to the manager and -staff for the excellent grade notes secured throughout the season, and for .the- )iigh overrun. Mr Alex. Haldane, in seconding the motion, mentioned that £75 had 'been paid by the company to the War H-und during the past year and it was decided to pay i.- per cent, on value of export butter to the same good cause for the C°MeSrfl£wiev and Gill, of Wellington. were appointed auditors to the °I?eVerai slight alterations to the company's bye-laws were made and othet matters of minor importance were dealt with- .. -. ""'■"■V^&ZM-