LEPPERTON DAIRY COMPANY.

Taranaki Daily News, 16 August 1916, Page 6

LEPPERTON DAIRY COMPANY.

I ANNUAL MEETING. The tvvcnty-fourtli annual meeting of the Lepperton Dairy Co. was hold in the Lepperton Hall on Monday night, Mr. H. B. Lepper (chairman of directors) presiding over a fair attendance of shareholders. r " REPORT AND BALANCE-SHEET. The annual report showed that out of the surplus, £1728 10s, the directors proposed to pay interest- at the rate of 5 per cent, per annum on share capital I subscribed to June 30, 1015 (£73 fe fid) and to make a payment to suppliers of 2d per lb on butter-fat supplied for the season ( £lb3l 13s 8d) and to carry the balance forward. Butter made amounted to 102 tons 3c wt lqr 131b. Milk received, 4.517,0051b5; cream received, 14,oSolbs; butter-fat, 195,8021b5; butter made, 225,5."»71b5; average test, 4 18-over-run, 16.9j advance, 14.105 d; bonus, 2a; interest, ,000 d; total, 10 l-95d. The balance-sheet showed that butter sold and in stock amounted to £15.595 9s Id; butter-milk, £26 13s 4d; interest | £9 Is 3d, making the total receipts £15,031 3s Bd. The sum of £11.507 0s 2d had been paid to suppliers. Manufacturing expenses totalled £S24 5s (wagc3 £309,17s 6d, requisites £420 13s Sd, repairs £93 13s 10d); selling and administration expenses totalled £l4Ol 13 s 4d (export butter charges £1205 8s 7d, local butter charges £133 9s sd) and depreciation £Ol 12s.

In moving the adoption of the report and balance-sheet the chairman congiatulated the shareholders on having had a very prosperous year. The baf ance-sheet was the best they had eve. had. During the past year prices had been above normal, and from what he could hear prices would rule high during the coming year?. Agents were offering for bulk butter, and they had sold their local butter in New Plymouth at l"'/od. They were extremely fortunate in that they had not sold, but they had (unsigned, and so had come out on top. The same firm, Collett and Co., had again handled their output, and. through their local manager (Mr. Cruiek.-liank) had given every satisfaction The directors had contributed 12 boxes of butter, estimated at £45, to the Belgian Fund, and half a liox per month to°the Now Plymouth Women's Patriotic Committee. Referring to the Belgian Fund contribution, the chairman «said that it was the plucky, action of the Belgians in holding their ground, that enabled the Allies to get prepared, and this was worthy of some recognition. The directori intended to continue the contribution of half a box monthly to the Women's Patriotic Fund, unless the meeting directed otherwise. The British Navy, he considered, was responsible for the high prices, for unless it had cleared the sea of pirates the butter would not have reached home. Suppliers therefore should be very thankful to the British Navy. Freights, war risks, etc., had gone up very much. The amount of butter produced viz., 17 tons 3ewt 2qr 111b more than the previous •year, was highly creditable to the district, especially when they considered the exceptionally dry wcath°- in the autumn. The manager, despite die hot days and hot nights, had again turned out a tip-top article, the- average grade for the season being 03.70 points, second for all factories grading at Moturoa. Stratfrod, which topped the list with 93.5-1 points, had the advantage of better climatic conditions. They should, he'said, be proud of their manager (Mr. W. Roberts). He had personally known Mr. Roberts since boyhood, when lie found him trustworthy and reliable, and he had since proved this in his factory work. (Applause). Although the manager had not come up trumps at the various shows, yet suppliers had themselves to thank for this. Those who fed turnips to their cows spoiled any chance their factory might have of winning prizes at shows. It would be noticed that factories which barred iurnips generally came out well at shows. Fos two years, ho said, the manager had declined to take a holiday, as he w.as busy at work on the factory, one year putting in a concrete foundation for the wheel pit and this year attending to the refrigerator. The cost of production and delivery up to the f.o.b, stage wa? as follows:—Fat, without depreciation, I.3Sd pci lb, with depreciation. 1.40 d; butter, without depreciation, I.ISU, with depreciation I.2Sd. The export butter had ..averaged 15d per lb, so that .vilhout local trade their bonus would not be so higll. The over-run had been fairly goods. Repairs were not so heavy as last year. This year they had prepared for the coming season by installing a new GOO-gallon 'separator, and also a crc-am vat, so that they would be ready to take any home-separatetl cream offering. In conclusion, .lie paid a tribute to the efficient work done by the secretary, Mr. W. E. Pcreival. Mr. Baker seconded the adoption of the report. Tri reply to questions, the chairman stated that the butter-milk was sold on a three years' contract at the rate of l%d for every lOOlbs of milk that came into the factory. The report and balance-sheet were adopted without further discussion. ELECTION OF DIRECTORS. For the two vacancies on the directorate caused by the retirement by rotation of Messrs E. G Hamblyn and A. B. Leech, there we.e three nominations, viz., Messrs. Hamblyn. Leech and L. N. Blackball. Messrs Crowe and Max Lepper were appointed scrutineers, and the election resulted as follows:—Messrs Hamblyn 24, Leec-h 15 (elected), Blackhall 13.' * Mr. M. Hopson was re-elected auditor at the same fee as last year, ... GENERAL. A hearty vote of thanks was accorded the chairman and directors for their services during the past year. The manager and secretary were also accorded a vote of thanks* CHAIRMAN OF DIRECTORS. At a subsequent meeting of directors Mr. H. B. Lepper was re-elected chairman.