DAIRY COMPANY MEETINGS

Taranaki Daily News, Volume LI, Issue 217, 7 September 1908, Page 4

DAIRY COMPANY MEETINGS

KAUI'OKUX U1 (XISJJL'AN I'. J-11 presenting tlic annual report )l' the ivaupokoiuu Dairy Co., the directors state ihat tlie past year lias been e.v eepuunal, lor in&Lead oJ' the usual increase in siij»jil t r, ihu Imtter-i'at purchased ior the year shows a shortage of iUljlOTbs as compared with the previous year, which is jwholly accounted for by ihe severe drought experienced along tin; coastal districts. ihe milk received dunng the year amounted to oD,iHUj-ilKilbs a I an average test oi' 3.81 per cent (yielding 1,-307,1 fiilbs of buttertat), irom which was njaiuUactured lUjj tons of cheest'j ail oi which made guod prices on the Home market. As th 6 directors are thoroughly satislied with the hrm which handled the produce they have decided lor tuis year to consign through tuc same channel. As the company nas only seven sluucs lel't unallotted a is proposed to eulurge the capital by the creation of 15,000 new shares oi Xl each.

The prolit and loss account, after is allowed for depreciation, shows a surplus of ;C7lliu Its (apart irom the prolit 011 the store). After paying a dividend of 0 per cent on paidup shares, amounting to .Ciiili' lis jd, tuc directors 'recommend making a further payment to suppliers of one penny per lb ou tlie butler-fat supplied over tne whole twelve mouths, wlin.li will uu sorb the sum of xiiiSD lbs 2d. The balance-sheet shows that the company has attained a very strong iimmciai position. During the eleven years now ended there has been set aside a total of £li,isU 12s lid. In addition to this tne company holds 1527 fully paid-up shares in the West Coast ltefrigeiating Company and 8.5S fully paid-up shares ill the Egniont tio.\ Company—both interest hearing. As a result of this policy the interest charge on the factory account is only iio7 12s 3d for the tM'elve months, 111 spite of tlie fact that the company had about £15,000 'Worth of cheese in stock all . through the Hush of the season.

RALLOTU COMPANY. Writes our Raliotu correspondent: The first annual meeting of suppliers of tile Uaiiolu Dairy Co. was held at the factory on Eriday. There was a guod attendance of suppliers. Mr. A. Chapman (chairman of directors) presided. After the minutes of the last meeting had been read and continued, the report and balance-sheet were presented. The report showed that during the live months the factories had been running (>;S,:>imbs of butter-fat were, received a l , the factory, and 101),521lbs of cheeso and 18,:i!)8Ibs of butter were manufactured. The balance-sheet showed that £2752 its lid had been paid out for milk, whilst the cheese and butter sold realised £%U3 (is Nd. The company had been under heavy expense, the factory buildings and plant, and manager's and assist Ants' residences costing .C 4312 Ss Gil. The chairman, in moving the adoption of the report anil balance-sheet, referred to the fact that the company had so far been under heavy expense, having been formed ■ iate in the season. They now had a line, np-to-dale factory, and the prospects for a successful season were most, favorable, lie thought not only would the supply be increased, but a higher price be obtainable for their produce. The report ami balance-sheet were adopted. Mesrs. XctvLou King and 11. N. Cluipman. retiring directors, were the only nominations for the vacant seats on the directorate, and were duly elected. Mr. McKelliir was re-elected auditor, and bis remuneration was tlxcd at '£s

A notice of motion that the number of directors lie increased from five to seven .was lost. The question of leading steam into the whey tanks was discussed. Several suppliers weru of opinion that healing the whey sweetened it and prevented it from corroding the cans. It was resolved, That the directors arrange to have steani led into the v«Us. In answer lo a question it was stated that cheese would be manufactured this season. The question of joining the National Dairy Association was brought up, but nothing was done in the matter. At a meeting of directors held immediately alter Mr. A. Chapman was re-ek-dell chairman.

WAITAR A (TAUANAIvI). The animal general meeting of share- I holders in the Wailara (Taranaki) Dairy (Aw was held on Wednesday. There was a fair attendance of shareholders. The Tirana! report was presented as follow*: — Tn presenting the tenth annual bal-ance-sheet, your directors regret that owing to climatic conditions the milk supply \va.« considerably below that of the previous year, butter naturally showing a corresponding decline. The price realised was not so high as last year, hut the quality kept up to iU usual standard, and was again well reported on bv purchasers. The amount of milk required to make a pound of commercial hntter was 22.17. During the year Mr. W. Old retired from the directorate, Mr. Langman being appointed to fill the vacancy. The following is a comparison with last season, showing decrease*:—"Milk (lbs) 1007, 3.500,RM); I'MK, ;UU<I,UUi. decrease 331.271. Butter-fat. (Lbs), 1007, 142,491; WOS, 130,100: -decrease 12,325. Butter, 1007, 100.2531b5; 1008, 142.9051h5; decrease, 17.2881b5. Hutter-fat payments. 1007, lO.OSd: 1008, 0.73 d. Balance, 15)07. £754 *.M; IMS, £4OO 7s 2d; decrease, £3.">4 Is lOd. • ! The balance-sheet showed that advances on milk had absorbed .£4875 13s 3d, wages £358 0s 7d, expenses £482 : 12s lid. Tlie sales of butter produced C 0337 2s. Messrs, 11. Purdie and T. Langman were the retiring directors. Messrs. Langman ami W. Oiddv were elected j to lill the vacancies, Mr. Oiddy's election being with the idea of having two cream- ! erv representatives on the directorate. Mr. \\\ K. Pcrcival was re-elected auditor. At a subsequent meeting of directors Sir. 11. Smith was elected chairman. Tlw shareholders of the company received '.K73d per lb for butter-fat supplied throughout the year, and for August IIVL.d was paid out.