TIKORANGI DAIRY COMPANY.

Taranaki Daily News, 28 August 1917, Page 3

TIKORANGI DAIRY COMPANY.

ANNUAL MEETING. The twenty-second annual meeting of the likomngi Dairy Company was held m the Tikoraugi Hall yesterdav, when Mr. C. Foreman., chairman of directors, presided over a good attendance. REPORT AND BALANCE-SHEET. The report stated that considerable alterations to plant had been effected, which Mould doubtless tend to more provable working. A credit balance of £ia22 7 3 Id W as shown in the worldno account, which, when distributed anion'"' members, would bring the payment for butter-fat to over Is 7d per lb. The milk received during the past season was 0,084,4231b. cream received 238,7171b butter made 34&,8G81b, butter-fat from milk 200,4471b, .butter-fat from cream 53,30G1b. average milk test 3.94. The working account showed the value of the butter made to have been £25,992 8s 2d. The expenditure showed expenses £1440 9s 7d, wages £5lO 5s 9d, but-ter-fat levy £834 ICs 2d, alterations £329, interest £49 10s sd, women's league donations £3B 10s, directors' expenses £IS, depreciation £290. Advances to suppliers £ls.<U3 9s 2d, balance surplus account £7522 7s Id.

CHAIRMAN'S ADDRESS, In moving the adoption of the report and balance-sheet, the chairman explained that the lateness of the meeting wa s due to the illness of the auditor, Mr. W. E. Percival, necessitating the appomtment of another auditor to do the work. He considered it had been a good year, though it had been a strenuous bne for dairy factory directors. At the end of the financial year, on Juno 30, the factory had a good lot of butter in store, but this had since been sold at an advance of tho price as estimated in the balance-sheet. There was a considerable decrease in the milk, but there wa 3 an increase in the quantity of cream supplied, though this did not counterbalance the decreased milk supply. He thought the decrease in the output was due mainly to the unfavorable season, ft rough spring and a dry autumn. When the balance-sheet was made up there were 029 boxes of butter afloat, on which there would probably be a further payment. Wages and other expenses had gone up, as was only to be expected; £329 had been expended in installing a new boiler, re-metalling the road, drainage, etc.

He then formally moved the adoption of the report. Mr. J. H. Allen seconded. In reply to a question, the chairman stated that it took 20.791b of milk to make lib of butter, the over-run being The report and balance-sheet were adopted. ELECTION OF DIRECTORS. The retiring directors, Messrs C. Foreman and J. Whitehead, 'were re-elected unopposed. ■Mr. A. J. Tunbridge was elected auditor at a fee of £0 Os. A letter was received from Mr. W. E. Pereival, declining to accept re-nomination owing to pressure of other business. On the motion of Messrs Faull and Rolfe, it was resolved to increase the chairman's honorarium to £25. the mover stating that he considered they had been getting the work done too cheaply. The chairman, in returning thank's, stated that the work had taken up a good dcui of his time.. GENERAL. Mr. W. D. Foreman suggested that suppliers should consider the question of the factory procuring supplies of benzine, manures, etc. The chairman considered the present Was hardly an opportune time. Mr. Faull understood that suppliers of other factories effected a considerable saving in this 'nay. A hearty vote of thanks was accorded the chairman and directors for their services during the past season. CHAIRMAN OF DIRECTORS. At a subsequent meeting of directors Mr. C. Foreman w&3 re-elected chairman.