ROTOKARE DAIRY COMPANY.

Taranaki Herald, Volume LXVIII, Issue 16797, 22 July 1920, Page 4

ROTOKARE DAIRY COMPANY.

FIRST ANNUAL MEETING. i'l’.o auiuin 1 meeting of the Rotokar* Dairy Company was held at the factory Me.stowu, on Wednesday evening, Air. 'li. Maiioil, chaimnu of directors, presiding over a good attendance of shareholders. Ulus directors, in their first annual report, congratulated tire shareholders on the success of tho company in its initial stages. The quantity of milk received was 540,8'J41b., Ids. of milk per lb. of cheese 9.19, butter-fat received 35,3331 b., lbs. of choose ’per lb. of but-ter-fat 2.53, cheese made 89,6451 b., tivcrago teat 4.15. After writing off £6O ids 8d preliminary expenses and £147 Li 3d depreciation of plant and buildings, there remained a credit balance in the profit and loss account of £837 8s lid to bo dealt with at tho meeting, 'lira directors considered that the result obtained were highly satisfactory, especially in view of the factory being finished and ready for occu■pation late in who season. ' 'Ora Chairman formally moved, tiro adoption of the report ahd balancesheet, and said that although tho company did not rocoivo tho quantity of milk expected the results of tho part season’s operations could be considered highly satisfactory. Regarding the balance .in hand, proposals would ho submitted to tho meeting that those shareholders who were still supplying should receive a bonus of lid and that a further id per lb. be credited to their share capital account. In the case of supplier* who had left tho district, he suggested that they receive a bonus of Itl pet lb., and that other id bo credited To share capital account. Mr. J, 0. Taylor seconded tbs tion. Luring a short discussion which ensued, shareholders said they wore more than pleased with tho results achiever! m tho initial stages of. the_ company. The results wore very gratifying and compared more than favourably with other young companies. Mr. A. R.• Davies Said 'tho results would have'been even more satisfactory had it not been for the fact that a number who promised to supply had not done bo. 'The prospects for the coming season wore very encouraging as to price, and it was also confidently expected that there would bo a considerable increase in the supply. The motion for tho adoption of the report was carried. Tire chairman’s suggestion as to the, allocation of the balance of profit and loss was agreed to. After a short discussion it was decided to increase,tho number of directors from five to seven. Tho retiring director, Mr. J. W. Lovell. was ro-elocted. and Messrs. West and Kenny were elected to occupy tho additional seats.

Mr. C. F. Foote was re-appointed auditor at a fee of £2 2s.

On the motien of Mr. j. W. Lovell, a. very hearty vote of -thanks was accorded to the manager, Mr. J. Within. Tho success achieved was in a largo measure dno to the excellent services of the manager.—Several shareholders snake in appreciative terms of Mr. Witkin’s services, and tho motion was carried by acclamation. A similar compliment was extended to the directors iir recognition of their services.