POOL NOT FAVOURED

Taranaki Daily News, 12 August 1930, Page 10

POOL NOT FAVOURED

SALE OF CHEESE ON QUALITY. DISCUSSION AT PEMBROKE. The proposed pool of dairy companies to give an incentive to the manufacture of finest cheese by' the payment of a graduated premium froni'a fund obtain? ed by a voluntary levy made on all companies associated in the pool, did not find much favour among directors or suppliers of the Pembroke Dairy Company when the matter .was discussed at yesterday’s annual meeting. The discussion tended to the opinion that any premium should be offered at the selling end, and not at the manufacturing end. Suppliers generally could see little to commend in finding the money to pay themselves a premium when their company was already producing a first-class article which had drawn very favourable reports from the agents in England. The chairman' (Mr. W. McCracken) said he would attend the conference of North Taranaki companies at New Plymouth and would be guided in his attitude by the trend of the discussion. The matter was broached by Mr. H. W. Hancock, who sought the opinion of the company’s directors. The chairman shid the board had not yet had an opportunity of considering the proposal, but would do so at a meeting to be held at the end' of the .present week. He pointed out that Pembroke would be linked with North Taranaki companies in the proposed pool. It seemed to Mr. McCracken that it should be the buyers who should encourage a better quality article by offering premiums on sales effected. At present no pecuniary advantage lay in the sale of finest or first grade. All changed hands as good New Zealand cheese, and was paid for as a whole. The idea of manufacturers subscribing to pay their own premium without a compensating higher market price for finest cheese did not appeal to him. He would attend the meeting and listen to the discussion before committing the company. “There is also this to be considered,” said Mr. Hancock. “To obtain finest, a certain amount of yield may have to be sacrificed and it is questionable whether the 6d. premium will compensate our factory. If buyers in Britain are not prepared to pay for grade I do not think they are in a position to'complain about quality.” “If the scheme is wholly voluntary, L do not think we will join,’ ’said Mr. E. P. Aldridge, one of the directors. He was opposed to the idea of grading milk because, despite the fact that one supplier might be penalised for bringing inferior milk,.all the supply went to make the company’s cheese, and there would be too much expense involved to discriminate with vats.for first quality and other vats for second grade. VALUE OF SHARES. As one of the. earlier directors who interested themselves in bringing about the forfeited share account Mr.- Belcher asked why the directors had wiped the account out of existence by allotting the shares to a certain supplier. Last year’s balance-sheet showed £lO9 in .this account. . ‘ ' The chairman and secretary explained the transaction referred to, stating that the allotment was simply carrying out an agreement made in 1927 between a certain estate and the -company. The company, as a matter of fact, had increased its capital by £4O through the ■transaction and had -considerably augmented its supply. ■■

Mr. Belcher: I still think.the directors acted unwisely. In my opinion it is not always good business to chase additional supply. At any rate, the balance-sheet ■ does not show any decrease in manufacturing costs and I am very sorry to see the account disappear.

‘‘Perhaps unwisely the company goes into very full details in its balancesheet,” said the secretary in explaining that a carefully prepared table giving comparisons of cheese manufacturing costs was kept from year to year. Unfortunately this year a matter that could not have been anticipated in framing the table had come about in standardisation. Hence the table showed only the factor obtained by dividing the total coots into the tonnage of cheese produced and no amount, was allowed for the additional 24 tons of butter which resulted from standardisation. If that butter was set against the cheese it would be found that the cost of manufacture had decreased.

Mr. Belcher said he thought the company should adopt the policy of buying in shares when available at a fixed price and re-allotting them us required to incoming suppliers. The secretary stated that whilst having removed certain liabilities the directors had steadily been creating a sound position for the company by reducing the number of dry shareholders. “When the remaining few dry shareholders have been mopped up this company can go ahead with the further readjustment the directors have in mind,’ he said.

Mr. Alander.- It seems apparent that when a company pays interest its shares are worth more on the market. Mr. W. Thurston: Yes. and have all us chaps working for the dry shareholder —not much.

The secretary drew attention to the case of a Taranaki company that recently figured in a court action instigated by a dry shareholder. He showed what dieadvantage there were in paying interest, and the matter was allowed to drop The report and balance-sheet were adopted without further discussion.

Messrs E. P. Aldridge and G. P. Wickstced, the retiring directors, were the only ones nominated and were therefore declared re-elected. Mr. T. H. Penn was re-elected auditor. - Directors were voted the same honorarium as last year —the chairman £25 and the directors 10s for each meeting.

A good deal of discussion ensued on the question of ' the . time (..allowed in which to nominate directors to fill rotational vacancies, but finally it was agreed that nominations should . close not earlier than, three days prior to the date, of the annual meeting. Appreciation of the work of the manager (Mr. E. W. Baker) and his staff was expressed by several speakers, who commended the consistent high grade and good yield. BREEDING A JERSEY, STRATFORD CLUB’S ACTIVITIES. A meeting of the executive of the Stratford Jersey Cattle Club was held on Saturday, when the president (Mr. D. O’Sullivan) presided ■• over a full attendance. It was decided to hold the usual Futurity Stakes; the third will' conclude at the 'Stratford spring show. The next will be the fourth series. A Sires’ Stake will be run in conjunction on sweepstake lines. The competition will be open to pedigree Jersey heifers born between July 1, 1930, and February 28, 1931. To give zest to the herd testing movement, two cups were offered for competition to members of. the Stratford Jersey Cattle Club. One would be for the competitor with the . highest record above standard in semi-official testing, and there would be a cup for group of three cows under official herd-test-ing giving the highest aggregate above standard.

DEATH OF MR. HARRY MASTERS.

SUDDEN HEART ATTACK FATAL.

Mr. Harry Masters died at Toko on Sunday night as the result of a heart attack.” He was 47 years of age. Mr. Masters, the second son of Mr. Jonas Masters, lived in Stratford for over 30 years.

One of a footballing family, Mr. Masters played Rugby for the Stratford Club when he was a young man. He was connected with his father’s business, and with Masters, Ltd., until he tool< charge of the Toko store three years ago. Mr. Masters took ran active part in public life, and was well-known in bowling circles as a member of the Avon Club.

Mr. Masters was born at Brunnerton, near Greymouth, and came to Stratford when he was 12.

A heart attack on Sunday was the climax of a year during which Mr. Masters’ health was not the best, and he had been contemplating retiring from business. He did not recover from the sudden attack, and died at half past nine. Mrs. Masters is a sister of Mrs. A. Walker, Ngaere, and Mrs. A. Boon, New Plymouth. Air. Alasters had only two children, sons who died some years ago. - His brothers are the Hon. Robert Masters and Air. A. R. Masters, Stratford, and Air. Harold Alasters, New Plymouth. CLAIM AFTER AIOTOR COLLISION. ACCIDENT IN BROADWAY. Argument following ’a motor accident wa<s unravelled in the Stratford Court yesterday, the plaintiff being Allen H. R; Fisher, New Plymouth, who claimed £5O 16s sd, and the defendant- Halbert A. Jenkins, Hawera. The case was adjourned to permit of admitting evidence for the defence. The collision occurred on the bridge in Broadway on January 24. Fisher was proceeding northwards while Jenkins was turning in the read to proceed to Hawera. Fisher said he entered Broadway from Lear Street at about 15 miles per hour and proceeded along Broadway at much the same speed. There was nothing ahead of him except a car parked just past the Page Street intersection. Fisher sounded his horn on approaching the intersection but when he was 20 feet from the parked car it moved across the road evidently iii an -effort -To turn round and go in a southerly direction.

Fisher swung, to the right but was unable to avoid a collision. . ... Fisher was driving • slowly and carefully with his Whole: attention concentrated on the road, said Frederick ~W» Schultz, who was with Fisher t in. thq car.’ ’ • .'■? •• ' ‘-.-/4 /r •’ 'Harold W. Rowe, who saw the acci- . dent .from the footpath, said Jenkins turned without. any warning. : Rowe could not see how Fisher could have avoided hitting Jenkins’ car. •.?. : Counsel for - Jenkins alleged’ that Fisher was not keeping'a proper look-out,' that, he was travelling at: a higher speed than the limit permitted, and that he .was guilty of contributory negligence. Jenkins said he ascertained the road was clear before he stepped into his car. The engine was warm so 'no time .was lost in getting'under way. When .it was struck Jenkins’ car, was near the » middle of the road and was travelling at seven to eight miles per hour. He did not hear a horn sounded. PERSONA LAND GENERAL. Sympathy with the relatives of the late Mr. J. Gadsby,- Te Kuiti, a brother of Mr. S. Gadsby, Stratford, "was expressed at last meeting of the executive of the Stratford Jersey Cattle Club. Mr. W. McCracken was yesterday reelected chairrnan of directors of the . Pembroke Dairy Company. A special motion increasing the share capital from £lO,OOO to £ll,OOO by the creation of a further 1000 £1 shares, was adopted at yesterday’s annual meeting oKjhe Pembroke Dairy Company. The secretary (Mr. W. Power) stated that everything pointed to the factory entering the 500-ton output class by the end of thg present season. One of' the popular orchestras, Henderson’s, has been engaged to play at • the’Eltham Fire Brigade’s annual ball on Friday, and a large attendance ia expected. The brigade is not sparing effort to cater for the enjoyment of patrons and anticipates that its worthy cause will be liberally supported. Decorations, supper, music, and floor, will all be of the best. ; : ... ; .

The death took place on Sunday at her residence, Bath Street, Eltham, of Mrs. Joseph Schildhauer,' at the age of 55.- Mrs. Schildhauer had been confined to her bed for a number of years. She came to Eltham from Hawera about 11 years ago. She is survived by her husband. " f KING’S THEATRE TALKIES. BRILLIANT “RIO RIT A.” As Florenz Ziegfeld .has “glorified” the American girl, so Radio Pictures glorifies'Ziegfeld in ith superb spectacle of music, beauty and drama, ‘'Rio Rita,” coming to the King’s Theatre, Stratford, commencing at a matinee to-day at 1.30 p.m. All the rich qualities which" drew Broadway crowds for 62 consecutive weeks to the Ziegfeld Theatre ha ye been retained in the film production, and to these have been added mobility and magnitude which the stage, even under the direction of a Ziegfeld, could not hope to attain. Against the most lavish sets yet seen on the screen is played and sung, the magnificent drama. ...of the. Mexican borderland by Bebe Daniels, John Boles and a supporting cast of hundreds. Mighty vocal choruses, inspiring dance routines and beauty ensembles show for the first time the endless possibilities of the speaking screen. The whole of the second part of the production i>s filmed in technicolour aboard a sumptuously furnished .galleon anchored in the Rio Grande.