MASTERTON DAIRY COMPANY.

Wairarapa Daily Times, Volume XXVIII, Issue 7828, 22 August 1904, Page 5

MASTERTON DAIRY COMPANY.

Annual Meeting.

The annual mooting of tho Masterton Cooperative Dairy Company, Limited, was hold in tho Foresters' Hall on Saturday afternoon. There wore about twenty-six members present, and Mr J. A. Renall presided.

The annual report and balance-sheet was read, and adopted on the motion of Mr Renall, Beconded by Mr Ewington.

It was resolved that, in order to give every district connected with the Company full representation, Clause 55 of the Articles of Association be so amended that the number of Directors be increased to nine.

Messrs J. A. Renall and R. Wilton (Rangitumau) were elected to the ordinary vacancies in the Board of Directors. Mr R. Thompson was appointed to represent the Nikau Branch.

Mr J. Colway, in speaking to the report, criticised the action of the Directors in securing a creamery site at Weruiti.

Some discussion ensued, in which Mr Renall strongly defended the action of the Directors. The rules defining the power of the Directors were also referred to, and it was pointed out that they had not exceeded their duty.—The matter was then allowed to drop.

Mr C. H. Bertelsen moved, and Mr Rsnall seconded, That an extraordinary general meeting of shareholders be held on Wednesday, 21st September, at ; 2 p.m., in the Foresters' Hall, for the purpose of taking the necessary steps to incroase the capital of the Company to £5000.—Carried.

On the motion of Mr J. Colway, seconded by Mr J. Kjestrup, Mr J. C. Ewington, retiring Director, was accorded a hearty vots of thanks for service rendered to the Company. The Chairman, Directors, the Secretary (Mr G. R. Sykes) and the staff were paid similar compliments. Mr A. Hathaway was elected Auditor for the ensuing year. At the conclusion of the annual meeting, a meeting of Directors was held, when Mr J. A. Renall was re-appointed Chairman. ANNUAL REPORT. Your Directors have pleasure in placing before you the third annual report and balance sheet. During the past Eeason butter-fat upon which advances were made amounted to 130,0'.)91b5, and from this 144,1921bs of butter were manufactured, representing an overrun of 10-8 per cent., and an increase of 56,4591b5, or 25 ton 4cwt Oqrs lllbs over that of the previous season. A still larger increase for the approaching sea3on, is confidently anticipated. The advances made per lb. of butter- fat were: —September, 9d ; October, Bid ; November, December, January, February, March, April, 8d; May and June, 7£l. The average tests were: — Eaxgitujhu. Masgamure. September ..3 9 3-9 October .. 3-5 3-5 November .. 3 7 3-5 December ..3-8 3-6 January .. 3 9 3 - 7 February .. 4-1 38 March .. 4-2 4-0 April .. .. 4-3 4 3 May .. .. 4-7 4-5 June .. .. — 4'B The settlors of Nikau having guaranteed the product of some 300 cows, your DireC' tors have decided to at once erect a Creamery in that locality, in a very central position. The retiring Directors this year in accordance with the rules are Messrs J. A. Eenall and J. C. Ewington, who are eligible for reelection.

In order to give every district connected with your Company full representation, it is proposed that CHuse 55 of the Articles of Association shall be so amended that the number of Directors shall be nine. You will be called upon to exercise your voto3 in respect to this proposition.

The balance sheet was made up as follows :—Receipts : Balance June 30th, £63 4s 9d ; sales, £5602 14s 7d; stock, £879 6s 8d; transfer fees. 10s; total, £6545 163. Expenditure: Advances on butter fat, £4338 143; purchases of butter, £350 Is; workiDg expanses, £1132 03 9d; charges, £439 8s 10d; interest on overdraft, £206 18d9d; written off, ,£3B 13s 6d; auditors' fee, £6 6s; balance, £1 5s sd; total, £654-5 16s.