THE DAIRY INDUSTRY

Taranaki Daily News, 8 July 1929, Page 15

THE DAIRY INDUSTRY

TARURUTANGI DAIRY COMPANY. THIRTY-FIRST ANNUAL MEETING. There was a good attendance of shareholders at the thirty-first annual meeting of the Tarurutangi Co-operative Dairy Company in the Tarurutangi Hall on Saturday evening. Air. G. Al. Longstaff, chairman of directors, presided. The annual report stated tnat in view of the change-over from the old to the new factory the results obtained were, in the opinion of the directors, satisfactory!. During the year the building of the new factory was completed, and it was a credit io all concerned, and a great asset to the district. There was an increase in butter-fat of 18.5201 b and approximately seven tons of blitter over tne previous year, and the directors expressed the wish that an eaueavour would be made on the part of the suppliers to increase their supply tor the. coming season and thus reduce tne . running expenses of the factory. After writing off the sum of £253 13s !hl for depreciation of plant and buildings, equal to one farthing per lb of but-ter-fat supplied, there remained a credit balance of £1575 Ils 9<l in the prolit and loss account to be dealt with, and the directors proposed to make at the meeting a further payment of ltd per lb of nutter-fat supplied during the year. The average payment of suppliers with earring would amount to Is Ud per lb of butter-fat supplied for the season. Account sales were yet to be received for 251 boxes of butter shipped Home, on wnich the sum of Is 3d per lb has been advanced. The quantity of butter manufactured was 119 tons 2ewt Iqr 61b. The total cost of manufacturing per lb of butter, Including cost of production, depreciation and the whole of the expenses of the company was 1.84 d. The total amount of cream received was ib, from which was obtained 224,2061 b of butter-fat, the average test being 37,97 per cent. > THE CHAIRMAN'S REVIEW, In his address the chairman briefly referred to the steps that had led up to the erection of the new factory. Eighteen months or two years ago it -was realised that the factory was out of date, and at a special meeting of shareholders it was agreed that the time had arrived when the factory should be rebuilt. After going carefully into details the directors I had called tenders for the work but instead the directors had decided to have it carried out by day labour, including the carting of the shingle and any excavation. As a result a considerable saving had been effected. He paid a tribute to the thorough manner in which Mr. Geo. Beamish, the builder, had carried out his work, and to the attention given by Air. A. Street, one of the directors, who had acted as clerk of works. At their own expense they had visited and inspected all the leading factories around the mountain and had incorporated in their building all the best ideas from those factories. As a result he thought they could now claim to have a really model little factory. He knew that other companies thinking of erecting new factories were advised to inspect the Tarurutangi factory before finally agreeing on their plans. The total cost of the biulding was £2495 and of the machinery £l9OO, and their, total assets, after "allowing for depreciation, amounted to approximately £5OOO. In addition to the factory buildings and plant, the manager’s and assistant's cottages, th© assets included five acres of land, 3-J acres of which had been planted In trees, which in time would become © very valuable asset. As he had anticipated last year would be the case, the erection of the new factory and plant had resulted in a saving in the running expenses of the factory. He claimed, too, that all the directors and staff bad studied the interests, of shareholders in every possible way. The total liabilities of the company amounted to £3300, so that shareholders could see tho company was in a very satisfactory position. The chairman said excellent reports had been received regarding the quality of their produce. It was pleasing to note that the grade had gone up since the erection of the new factory. The grade now .stood at 94.26 and the overrun was 22.23. That, he considered, was very creditable to the manager (Air. S. Arbuckle). He then moved the adoption of the report and balance-sheet. In seconding the motion, Air A. Street remarked that the new factory, though costin o, more than had been estimated, was a splendid one. As a supplier he was very pleased with the work. He considered if it had been carried out by contract it would have cost an additional £l5OO. Several suppliers expressed apprecia-.-tion of the thorough way in which the factory had been built, though the building and machinery had cost more than was anticipated. During discussion it was stated that the cream cartage for the season had cost £340. Some suppliers had carted their own cream and had been allowed id per lb butter-fat. The total cost ol carting cream would he from 3-8 d to Jd per lb butter-fat. “ After a little discussion the report and balance-sheet were adopted. ELECTION OF DIRECTORS.

There ere five nominations for the two vacancies on the directoiate, Alessrs. J. F. Giddy, V. H. Martin (retiring directors), A. Kam, J. B. Richards and P. J. R. Warren, the election resulting in the return of Messrs. Giddy and Richards. It was resolved to place on record the shareholders’ appreciation of the services of the retiring director, Mr. Martin. Mr. H. Baily was re-elected auditor. It was decided that the directors’ fees should be the same as last year, and the chairman was voted an honorarium of £25. The directors were voted an honorarium of £1 Is. It was resolved that no interest be paid on share capital. Some discussion took place ever the question of cream cartage, the majority of the suppliers expressing the. opinion that the present system was quite equitable, and it was decided to leave the matter in the hands of the directors. Legal advice is to be taken as to the steps necessary to alter the articles of association, together with the approximate cost. A special meeting is to be called to discuss the matter. Reference was made by several suppliers to the splendid work of the manager (Mr. Arbuckle), and they showed their appreciation in a practical manner by voting him a bonus of £l5. The secletarv was voted a bonus of £5 ss. At‘the conclusion of the meeting those present were entertained at supper, which was dispensed by a band of ladies comprising Mesdames G. M, LongstalT, J. F. Giddy, A. Street, A. Smith, S. Arbuckle, Misses D. Longstaff, R. Longstaff and V. Longstaff. They were accorded enthusiastic cheers.