SOUTH TARANAKI

Wanganui Chronicle, Volume 72, Issue 199, 22 August 1929, Page 3

SOUTH TARANAKI

PATEA REFRIGERATING COMPANY The annual meeting of the West Coast Refrigerating Company was held last Monday, Mr A. C. Pease presiding.

A resolution of sympathy with relatives of the late Captain Johnston and Mr S. J. Turner, who will be greatly missed by the company, was passed, all members standing a moment in silence. The late Captain Johnston was the primary founder of the company. The annual report was then read as under. Your directors now submit for your inspection the 28th annual report .and balance sheet for the year ended June 30, 1929. We also have pleasure in reporting that the tonnage receipt and shipping returns have again established a record in the history of the company. Cheese returns show an increase in crates of eight per cent, as compared to last season and 34 per cent, increase in comparison with 1922-1 23, a period of six years, thus showing what rapid development this primary product is reaching in this district. All shipping allotments have been maintained to schedule date together with a marked decrease in store working costs. Last year we had to report total destruction of our Hawera cool chambers. These are now reconstructed on improved lines, and it will be noted this branch is well maintaining its financial position. In December last owing to the resignation of three directors of the South Taranaki Shipping Company, Ltd., it was decided to purr their interests and replace the vacant seats on the board by gentlemen occupying similar positions on your own board. This, we are sure, will have the approval of all shareping facilities. We are writing down ping facilities. Wo are writing down on our usual scale of depreciation, the sum of £1756 15s 3d, leaving a balance of £321 12s 3d to be carried forward to appropriation account.

The balance sheet, showing a net profit of £321 12s 3d, was also read. The manager, Mr Hodge then read his report which stated inter alia, that the total storage receipts had exceeded any previous season. The early months of the year being comparatively a dry period, the increased ohitput is more than satisfactory, and goes to show that increased production has become a recognised fact in the industry as far as this district is concerned. Shipping allotments, in spite of exceptional adverse weather during the summer, were maintained to their scheduled dates, and total expense returns over all operations, including overhead, gives a lower working cost per ton of produce handled than the previous season, which had the largest tonnage in the company’s career. At last season’s production showed an increase of of 10U9 tons over the previous season, the following tabulated list gives the increases of the last three seasons, including this season under review: fSdason 1926-27, 21,517 tons (increase 1626); season 1927-28, 22,526 tons (increase 1006); season 1928-29, 23,082 tons (increase 556) e By this it will be noted that our total increase m three years equals 3191 tons. Assessing cheese at £BO per ton and butter £l7O per ton, the mean average value of total tonnage increase equals £569,470. There have been no building additions or alternations this past season. consequently maintenance costs have been below average. The company’s house properties, both in Hawere and are in good repair and require no expenditure other than detail maintenance at the usual periods Engine room department: This department has done excellent service throughout th.e year and again maintained its reputation for freedom from mishap. In my last year’s report I mentioned the fact that the plant is not young, which reflects full credit on its chief engineer and staff in maintaining same in good working order and condition at normal expense, through an exceptionally heavy season. Store department: As mentioned in

previous reports, this department’s capacity is dependent on shipping facilities keeping ahead of shipping allotments. This season the capacity was never taxed owing to shipments being equal to receipts up to February, after* which stores accumulated, brut as receipts were diminishing no congestion took place. The working operations for six months of the season were above average and prior to Christmas receipts exceeded 2500 per day, which with extensive loading during the same period fully taxed the accommodation and extended the efforts of the personnel concerned. Mr Southcombe and his assistants well deserve the company’s thanks for their successful completion without tally error through a very strenuous season.

Office staff; I feel auro there is no occasion for me to comment on the efficiency of your clerical staff. Your auditor’s report, the year’s clerical operations, with its quarterly returns and balance sheets, together with the correctness of the shipping returns, doubly audited by shipping companies concerned and tho Dairy Produce Board, are all ample proof that the clerical side has given you of their best. Personally I much appreciate the assistance given me.