Untitled

Taranaki Daily News, 23 July 1929, Page 10

manufacture, suppliers had been advanced 16.29 d per lb., and there was a surplus of £9481, equivalent to 1.7 d. Stocks bad been taken into account at Is 3d, and if stocks unsold were to realise no more, the pay-out would be 17.29 d. If, on the other hand, stocks should realise le 4|d, the approximate price ruling today, there would be an additional Id over the whole season. DIFFICULTIES OF FORECAST. In explanation of there being no bonus during the past month, Mr. Richards drew attention to the difficulty for anyone to say, on a falling market, what stocks would ultimately realise. During the latter portion of the season cheese had not realised enough to meet advances to suppliers, and it was to conserve the finances of the company that no bonuses had been made to cheese suppliers during July. For butter, Mr. Richards did think a bonus could be paid on August 20, because the valuation of Is 3d was reasonably safe. Casein suppliers had, as usual, been advanced 2d per lb. Accounts were not yet finalised, but he happened to know there was a surplus of £l6l that would soon be available for distribution.

Cheese suppliers had rechived 17.28 d, and there was a surplus of £5739, equal to a further I.OSd per lb. The two together equalled 18.37 d per lb. Stocks in store or at sea were taken in at 7id per lb., a valuation deemed reasonably safe. However, no one could tell what cheese would realise, and the company had 570 crates in the works not yet shipped. If stocks realised, say, B£d, which was approximately the market price at present, there would be 0.43 d over the whole, season to come, making the final payment for cheese 18.80 d. STANDARDISATION OF CHEESE. Suppliers had already received a report on the recent fire which destroyed the old butter plant at Stratford, but it might now be mentioned that a contract for the new building had been let for £9558. Owing to the fact that the company usually worked on an average credit of £BOOO, it would not be necessary to make provision for interest on the contract price. Another contract costing £ll2B had been let for additions to the Skinner Road factory. During the year a conference had been held at Wellington on the question of skimming milk for cheese-making. The dairy regulations used to provide that cheese for Home consumption had to be branded “full cream cheese.” Notwithstanding, it was generally known that skimming was going on and some people actually proffered the argument that skimming contributed to high yields. “Just fancy,” he said, “it has been put to me in all seriousness that by. skimming the milk and taking some of the solids out of it, more cheese can be obtained. What rot!” He said he believed Taranaki milk was the richest for fat in the world, and it had been put forward as a feasible proposition that it would be an advantage if, during the latter part of -the season when tests were high, a certain amount of fat was permitted to he extracted and cheese made from the I rlance. The Wellington conference thrashed the matter out very exhaustively and as a consequence new dairy regulations had now been gazetted permitting the manufacture of “standardised” cheese.

“I very much regret the use of the term ‘standardised,’ ” said Mr. Richards. “It should have been called ‘guaranteed’ cheese.” He considered standardised cheese was, in fact, a good, rich cheese, and satisfactory reports had been received from Home. He was pleased to note that the making of standardised cheese was being allowed to , develop gradually. At the same time he contended that the making of standardised cheese was bound to reduce yields. The difference amounted to this: Whether the fat taken out of the milk would yield more money sold as butter or cheese. Of course, that question depended upon the relative prices ruling for these commodities. On the whole, he believed there would be an advantage in making standardised cheese when the milk supplied was very rich. The directors did not think it advisable to start manufacturing standardised cheese immediately, but perhaps it would be done during next autumn. Another matter that had developed lately was the waxing of cheese for export. The output of the Stratford Company had been waxed; and a distinct saving in shrinkage had been noticed. ATTACK ON CHARACTER. Mr. Richards said he regretted to say that certain false and untrue statements had been made concerning himself. As he was a candidate for re-election, he felt it incumbent upon him to state that he had been accused of accepting £lOO .for a report dealing with casein. As chairman of the general casein consultative committee and of the executive he had assisted in framing the report, but he stated emphatically that he received no remuneration for his work. “If these sort of statements are to be accepted when untrue, it is a poor outlook for the men occupying positions of trust in the industry,” he said. In view of the fact that the person who had made the untrue statement had refused to publish an apology, he (the speaker) had made a statuary declaration embodying his position, and this he was willing to hand to the secretary of the company. “Anyone can send me to gaol if statemen's contained in the declaration are found to be untrue,” he added. “At the same time I think it a poor compliment if a man has to go to all this trouble to clear himself.” Mr. Richards went on to say that as a member of the Federated Dairy Companies he always paid his own expenses, and received no remuneration, though the federation had certainly paid his expenses to attend the recent Wellington conference. He was interested in the work and regarded it as his own pleasure without seeking remuneration. Mr. F. Hunger seconded the motion. The person referred to by the chairman as having made certain statements said the matter was passing into legal hands, and for that reason he did not intend to say anything further at that stage. Later in the meeting he remarked that he was prepared to tender an apology to Mr. Richards when the latter was prepared to table a return of his expenses to Wanganui.