N.Z. RENNET COMPANY.

Taranaki Herald, Volume LXVII, Issue 16466, 19 June 1919, Page 3

N.Z. RENNET COMPANY.

THIRD ANNUAL MEETING

(From Our Special Reporter.) The third annual meeting of the Now Zealand Rennet Company was held in tho lecture hall of the Manawatu A. and P. Association on Tuesday evening, Mr. TV. Fisher (Carterton), acting-chairman, presiding over a good attendance. DIRECTORS’ REPORT.

The dirtectors’_ report stated that during the year just closed 84 kegs of rennet were manufactured by Mr. C. Cooper, of Mangatoki, from veils purchased by tho Rennet Company during tho previous year. This rennet had given every satisfaction to users. During tho pa-st season 14,178 calf veils and 165,000 lambs’ veils had been, collected, and it was expected that these would be made up into Rennet during May and Juno. Mr.’ O. Cooper had been appointed manager for a term of three years, and took up his duties on April 22, 1919. In the meantime, manufacture would bo carried on in a rented building at Eltham.

The total number of share applied for to date was* 14,823, on which £1857 Cs had been paid up. The bnlanco-ehect showed that the veils purchased cost £2249 17s 2d, and that tho manufacturing expenses and wages amounted to £lO6l 17s lOd. Sales liad totalled £1479 Is 9d, and there was stock on hand to the value of £2OBO 19s.

The in moving the adoption of the report and balance-sheet said the company stood on a very different footing than last year. It would be remembered that it was then decided to have some rennet manufactured by Mr. Cooper-, of Mangatoki, and the result of this depended whether they would go on or not . The results were such that the company decided to engage Mr. Cooper and to manufacture rennet in a building at Eltham, dairy companies which used the initial manufacture being well satisfied with the rennet. Thanks to the energy of Mr. Forsyth, chairman, they had obtained lambs’ veils from freezing works, and with those it was hoped to manufacture 600 casks of rennet. They had now engaged in the business on solid lines, but it was necessary if they were going to succeed that factory directors should see to it that moro veils were supplied. In other words, if they were going to manufacture rennet for the factories of New Zealand more co-operation was required among the dairy 'companies. If the use of Inmhs’ veils proved successful it should ho a ,big thing, as the replies received from all the freezing works were all sympathetic. It was all a question of what they could afford to pay. In Mr. Cooper he believed they had a man who knew his business and ho mentioned in conclusion that it .proposed to pay 2s for first class veils. Is 6d for second class, and 9d. for third class veils. Mr. J. Marx (Mangatoki) said his company was prepared to pay 5s for first-grade veils. It was useless to offer 2s for veils in these days with the high cost of. labour, and if the company could not afford to pay more then the dairy companies should he induced to pay moro for veils of a high quality. The local rennet was worth more than twice as much as the imported article. In reply to Mr. Marx the chairman said companies would bo supplied with rennet in proportion to the veils supplied. During further discussion several shareholders urged that the price of veils should bo increased to, say, 5s for first grade. Tho r.eport was adopted. FLECTION OF DIRECTORS. Messrs. W. D. Powdrell and J. S. Mackay were re-elected directors, and it was decided to' recommend tho directors to appoint Mr. Lawson, of Rexdale to fill the vacancy caused by the retirement of Mr. Wise. Mr. O. D. Morpeth was re-elected auditor.-