THE DAIRY INDUSTRY.

Taranaki Daily News, 23 June 1925, Page 7

THE DAIRY INDUSTRY.

NORTH TARANAKI COMPANY. THE ANNUAL MEETING. A SUCCESSFUL YEAR. The annual meeting of the North Taranaki Dairly Company was held at Urenui yesterday, Mr. H. M. Pufdie presiding over a good attendance of about 75 shareholders. Before the commencement of business the chairman referred to the loss the company had sustained in the death of Mr. Geo. Herbert, who had been a useful member of the directorate, and a resolution of sympathy with the relatives of the late Mr. Herbert was carried in silence. One could not help noticing the steady progress made by the company in the past year, said the chairman, in moving the adoption of the report and balancesheet (already published). For the year ending April 30, 1920, 6.809,6081 b of milk had been treated for cheese, and 594,044 lb of cream for butter, while during the year just closed 8,791 9191 b of milk had ■been treated for cheese and 1,591,1311 b of cream for butter, the increase in milk supply being almost two million pounds and in cream one million pounds. He was pleased to say that the whole of this increase in supply was due to more intensive farming amongst the suppliers of the district, and not by the acquisition of suppliers of other dairy companies. This proved that the erection of a larger and more up-to-date butter and cheese factory at Onaero two years ago at a cost of over £ll,OOO was fully justified. In this connection he was pleased to say that the amount advanced by the bank for the erection of this factory had already been reduced to £7,476. With another progressive year, -this should be further reduced to about £5OOO. GOOD WEATHER CONDITIONS.

Weather conditions during the past two or three seasons bad undoubtedly been favourable for dairying, but notwithstanding this he felt quite sure the increase in production during the pas I year would be maintained in the future. In fact, last year’s production would undoubtedly have been greater during the past year had it not been for niammitis and similar afflictions. Inoculation with vaccine would, it was hoped, cure these to a large extent, The whole of the output of butter and cheese for the past twelve months had been shipped to London on open consignment and satisfactory prices obtained in view of the unstable state of the butter market. The cheese market had, however, been very steady for the past twelve months, and variations in prices during that period were within a very small compass. As regards the average payment for the season, cheese W'ould undoubtedly beat butter, but what the actual difference would be he could not say at present as there were still 1892 crates of cheese, 106 boxes of whey butter, and 3949 boxes of creamery butter to market, and with fluctuating markets for both butter and cheese at the present time the final results of the past season might be much greater or less than at present anticipated. Providing the market remained stable for the next three months, it looked as if the company would be in a position to pay Is 8d per lb butter-fat to milk suppliers, and Is 6d pei’ lb butter-fat to cream suppliers. END OF FREE MARKETING.

The ensuing season might be the last one for free marketing, as he understood that the Dairy Control Board anticipated being in a position to assume full control of produce on August 26, 1926. During the year dairy control cost the company £3T2, and so far he failed to see where the company had received full value from the money it had been compelled to spend in that direction.

♦Shipping had shown very little improvement during the past year. Numerically the steamers carrying produce increased considerably, but as in the past a long time had been spent on the New Zealand coast in loading. In many instances several shipments had arrived in London at the same time, and if they had the misfortune to meet a falling market the company had suffered accordingly, During the past year there were one or two instances where the drafts reached Home before the carrying steamer had left New Zealand. Altogether there s had been 44 despatches during the last twelve months, whereas 24 would have been quite sufficient so long had they been at regular fortnightly intervals.

There did not seem to be much, in the balance-sheet that required special mention. The company had had a clear run of twelve months in the new factory and considerbale saving was shown in several items of expenditure. It was hardly fair to compare the overhead charges with those of the previous year as during that period there had been no factory for six months and the conditions under which work had been carried out had been anything but economical. The running costs had been worked out as follows: —Manufacture: Butter, 1.39 d; cheese, 2.38 d. Management: Butter, .52d; cheese, .6i2d. Charged to f.0.b.: Butter, ,25d; cheese, .35d. Depreciation: Butter, .15d; cheese, .14d. Total: Butter, 2.31 d; cheese, 3.49 d. He thought these were about as low as they had ever been in the history of the company.

In conclusion, he wished to thank his co-directors for the loyal assistance they had given him during the year, and also the staff and the marketing agents. The motion was seconded by Mr. E. Elliot. In reply to a question, the chairman stated that ‘the company stood well up in the grading list. Waipapa cheese had been fifth out of 60 factories, cheese twentieth out of 60 factories, and the butter eighth out of 40 factories. After further discussion on matters of domestic interest only, the report was adopted. ELECTION OF DIRECTORS. Two directors, Messrs. G. W. Rogers and A. D. Lucas, retired by rotation, which with the death of Mr. G. H. Herbert rendered three seats vacant on the directorate. The nominations of Messrs. Rogers, Lucas, E. Elliot and J. B. Mahin were received, the election resulting in favour of. Messrs. Rogers, Lucas and Elliot. Mr. A. J. Tunbridge was re-elected auditor. The chairman was voted an honorarium of £75. At a subsequent meeting of directors Mr. H. M. Purdie was re-appointed chairman. A proposal received by the directors

from the advocates of free marketing, that factories pay a levy of Is 3d a ton on butter and 6d a ton on cheese as a contribution towards the expenses of conducting the free-marketing campaign, was submitted to the meeting for an expression of opinion. The secretary (Mr. E. W. Garner) explained that the levy would amount altogether to about £2O. An amendment that the question of contributing be deferred was lost. The resolution that the levy be paid as requested by the Free-Marketing League was then carried, with four dissenting voices. The meeting concluded with a hearty vote of thanks to the staff for their year’s wofk,- ■■ < • •• ■- •