Katikati Dairy Company

Waihi Daily Telegraph, Volume V, Issue 1428, 12 September 1905, Page 2

Katikati Dairy Company

Annual Meeting

The adjourned annual mooting of tho Katiknti Dairy Company was hold in tho hall Katikati, on Saturday, 9th inat. Present: MosswE, Earl (chairman), S. Burl, A. Johnston, J; Loeltington, 0, MacMillan.A. E. Shofhord, M. J, Htowart (directors), Arnold, Dickey, Charlton, Dttnno, Fletcher, Hoeing, Killoj,' Lceeli, J. Lockington jun., Morton, Pritt, Riddoll, Q, V. Stowatt, 6.0, Stowart, JI. A, Stewart, Tanner and othersAfter tho routino business, tho balancosheet, showing that 1 250,00011)3 of milk had turned out 51,0001bs of butter sold, suppliers receiving 7d for butter fat, average aiilea being at 10) J, with a balance of ;£77 10a to profit on season's working, was considered, together with the' 1 Chairumn'ij report, Mr Morton asked why 145 had been stopped in December.

The secretary shted it was on account of low advanco price from export agents, though tbo output had sold lfitor at top rates in London, giving a largo credit, Directors considered this, should bo now paid. It was decided, altov discussion, that tli'i December reductions bo now mado up, nnd that when directs havo to lower the price of butter a conference of suppliers bo called to recoivo an oflioial explanation. Mr, Morton said thut £2o Is 8d paid by Aougatete suppliers toward thoir creamery could not bo properly called "profit,"

Mr, MacMillan stated it was unavoidable under tbo agreement mado last year, but it could bo dealt with as the mooting desired, Mr, M. J. Stewart advised iho issuo of preference shares Are rata, Mr. Morton, for tbo stippltors, objected,

It was decided to pay tbo money to sinking fund in reduction of overdraft limit, the balance to bo carried forward, a proposal to pay a dividend to preforonco shareholders being withdrawn. Discussion oflnstructor Shelley's report followed at somo leng:h, no dolin'ita action being takon, tbo report being at varianoo with romavks by Mr, Shorloy at tho laclory, l'ho report, balance slioet, ofo., woro tbon adopted,

Tho election ol directors, couductoil by Messrs Hooiug and Fletchor, rosulted: E. Earl 10, A, Johnston 14, C, MaoMillan 12 (re-elected), Dickey 10, Killen 4, the last nauiod withdrawing during Iho poll, Tho now Board of Directors ro-cloctod Mr. E, Earl as Chairman, and sot about appointing a manager, eto., after the shareholders' meeting had closed with tho usual votes of thanks,