Eureka Co-operative Dairy Company.

Waikato Argus, Volume XXV, Issue 3849, 1 August 1908, Page 3

Eureka Co-operative Dairy Company.

The annual meeting of the company was held at Tauwhare yesterday. There were 27 shareholders and contributors present, and Mr J. L. Roche, chairman of directors, presided. The report and balance-sheet were taken as read. J The chairman, in moving their adoption, said: The question of most.importance was the mode of disposal of the output. For his part he favoured selling right out,, and encouraging the local traders. They might make more by consignment, but under the other system they had a guarantee that the price would not fall below a given figure, and in the event of the Agent-General's quotations being higher they participated. Mr J. Shaw seconded the motion, which was carried unanimously. Mr Chapman said the cost of production by the Cambridge Factory was less in proportion than theirs. The chairman said that no doubt this was due in some measure to their plant not being up to date, and to the fact that the Cambridge milk was richer in fat than theirs. He did not know the reason, but it was the case. The question of bank overdraft was considered, and the chairman explained that those shareholders who had not signed the joint and several bond would be asked to sign another. In reply to a question as to whether they could not sign the existing bond, the chairman said he did not think so; but the secretary was instructed to consult the manager of the bank. The fact that Paterson and Co. had refunded £IOO was commented upon, and it was moved and carried that the agent be changed. The election of directors resulted:— C. G. Ramsay, 109; V. H. Chapman, 93; H. G. Howie, 87; J. R. Hetherington, 69; T. Hinton, 43; A. C. Hayes 19. The first four were declared elected. Mr Hetherington was subsequently chosen chairman. A vote of thanks was passed to the outgoing directors for their services. S The balance-sheet was published in our issue of the 27th July.