TARATA DAIRY COMPANY

Taranaki Daily News, 8 August 1930, Page 4

TARATA DAIRY COMPANY

PRICES DISAPPOINTING 94.16 RECORD AVERAGE GRADE. OPENING OF THE NEW -FACTORY. A fair attendance of shareholders met yesterday in the Tarata Hall for the 33rd annual meeting of the Tarata Dairy Company. Mr. J. Askew, chairman of directors, presided. The report stated that butter made amounted to 11’2 tons scwt Iqr 171 b, an increase of 14 tons llewt and 261 b as compared with last year. The total butter-fat received, 205,9891 b, showed an increase of 26,2411 b, equal to Wiper cent, over last season. After writing off £93 16s for depi eolation there remained a balance of £123 7s sd, but it wae not possible to forecast what the final result of the season would be until advices were to hand of all the butter shipped on -consignment. Suppliers had receives advances amounting to £12,070 Ils, an average payment of '14.063d per Ih of butterfat, and the balance would provide a further .143 d a total of Is 2 I-5d per lb of batter-fat supplied. Further payments would be made as minis were available. Statistics for the year showed that 545,6931 b of cream were received, producing 205,959ib of butter-fat with an average test of 37.748 per cent. The butter made amounted to 251,4851 b, the lbs of .butter to 11b of butter-fat being 1.2205. The average grade was 94.16. No unsaltcd butter was made.

In moving the adoption of the report and statement of accounts the chairman referred to the season ended May 31, 1929. At that date suppliers had • received advances amounting to 17;159d per lb of butter-fat, and when all the season’s accounts had been finalised further payments were made bringing the total for the year to 17.90 d per lb, which on an output of 974 tons was a very satisfactory result. The present season had been a most disappointing one as far as prices obtained in. England wore concerned, . for although the prospects appeared bright in the early months the market dropped to the lowest level for many years. This was reflected in the statement of accounts, for whereas the advances up to May 31, 1929, amounted to £12,851 10s Id, to the same date this season the amount paid to suppliers amounted to £12.070 Hs, although 26,2411 b more but-ter-fat was handled. Advances to May 31 averaged 14.063 d and with the market firm at 13Ss per cwt it looked as if the season would average about 16 3d per lb of butter-fat. Following the negotiations that had extended over a lengthy period a tender had been accepted from Messrs Julian and Sons, Ltd., for a new factory built in concrete for £1495, and one from Messrs J. B. Mac Ewan and Co., Ltd., for the removal and supply of new plant for £366. It was anticipated that the new building would serve the needs of the district for many years. . LESS STEAMER COSTS’. The manager was to be congratulated on the general excellence of the output.Of the 4279 boxes exported 4167 boxes were graded finest and 112 boxes first grade. There was no second grade, the .proportion of finest being 97 per cent. The average grade for the season, 94.16, was also a record for the company. The costs to f.o.b. ocean steamer had been reduced by 2-5 d per lb of butter-fat. The cream received had been of fair average quality, 83J being finest, 16 1-6 per cent, first grade, and 1-3 per cent, second grade. In view of the increasing competition the butter** would have to meet on the overseas markets he impressed on all suppliers the necessity of sending good cream. It was only by co-operation between the suppliers and the manager that the quality of the buttei’ could be maintained at its present high level, and possibly still further improved. INCORRECT FIGURES QUOTED. Referring to the remarks of the chairman of the Moa Dairy Company at its annual meeting—-taking it for granted that the reference to a neighbouring factory meant the Tarata factory—the chairman pointed, out that the liability in connection with the new factory was £l5OO, not £3OOO as stated at the Moa meeting. Several shareholders contended that if the remarks passed at that annual meeting applied to the new factory erected by the Tarata Company, then the figures given were certainly incorrect. It had been said that instead of 60 or 70 suppliers undertaking a liability of £3OOO it would have been ■better for them to have shared a liability of the same amount with a company of 300 suppliers. Tarata shareholders held that the liability .had been overquoted -nd was only about half the £3OOO given by the chairman of the Moa Company. The secretary, Mr. W. B. Messenger, stated that the general expenditure.was greater by £G9 than in the previous year, but that was to be expected with the increase in output. Wages were down £2l 12s 9d and fuel had fallen,

chiefly due to the weather, by £6O 14s. 'Cartage was up £25 —again due to greater output. Storage and carting costs had increased for the same reason by £l7. The fact that manufacturing costs were down on the.previous year was :i great credit to the manager. “I would like'to state,”-said Mr. Messenger, ‘’that our advances have .been loss than previously, and. that contradicts the oftrepeated statement that increased output makes up for decreased prices, ’.. ROM E MARKET ■ REPORTS. The secretary read reports received from home markets by the produce agents. On the first four early shipments of Tarata butter it was reported that the quality was excellent all round, the colour and salting right and the flavour and texture very good. Later reports, couched in the same language, confirmed the quality of the butter, and shareholders were of the unanimous opinion that these reports were very fine and reflected great credit upon the suppliers and manager. The matter of deciding on a suitable opening for the new factor} wiu» loft in the hands of the directors. Ihe manager said the factory would be ready about August 18. It was recommended, however, that an official opening be held in the afternoon with a social function in the evening. .

Tlie manager, who had foregone his holiday and done a great deal of bard and useful work in the interests of the sliarebolders, was voted a bonus of £lO. It was decided that no shareholder who had not signed the joint and several guarantee should be. eligible for election to the directorate.

The retiring directors were unanimously re-elected. The directors are: Messrs J. Askew (chairman). J. Smith, IT. W. Lovell, G. Burr, W. Ludemann, A. J. Webb, and H. W. Lawrence. Mr. G. Pnl'cn was re-elected auditor.