N. Z. Farmers’ Dairy Union.

Woodville Examiner, Volume XXI, Issue 3600, 4 September 1903, Page 2

N. Z. Farmers’ Dairy Union.

♦** “■ ANNUAL MEETING. At the annual meeting of the New Zealand Farmers’ Dairy Union held at Eketahuna on Wednesday, Mr T. P. Parsons, chairman of directors, presided. In moving the adoption of the report and balance-sheet the chairman laid emphasis upon the wonderful progress the industry had made during the past 14 years. In the last twelve months the company had disposed of 113 f tons of butter ia addition to cream sold. They hid sold for shipment 450 tons of batter at a price which enabled them to pay well for butter fat, and the outlook for the coming year was promising. Of this season’s output they had sold 180 tons. Their plant last year being insufficient to cope with their requirements, and as it would have cost from £2OOO to £3OOO to make their Wellington factory up-to-date, it had been decided to erect an up-to-date factory at Eketahuna. The saving thereby would be very considerable. The directors considered that a better article could also be produced by the erection of the new factory the cost of which was £6130. The increased stock on hand was due, to some extent, to the falling off in the demand in the Australian markets. The local trade bad been satisfactory, and the quality of their article had caused a continual demand. Their over-run was about 10 per cent, for the year. ‘ The Union financially was in a satisfactory position although the overdraft had been increased by about £4OOO through the erection of the new factory. Five per cent had been written off the buildings and the stock on hand when the balance sheet was prepared was valued at £12,717 14s Id but of this a portion had already been disposed of satisfactorily. He'moved the adoption of the report and balance sheet, Mr Wiltshire seconded the motion, and a large number of questions were then asked.

In reply to questions, the chairman said the share capital called up this year was £lOl3 10s. The manager received about £2OO a year as cash-out-of-pocket travelling expenses. All tests in future would be taken in the “ drip ” test. The butter sent to England on consignment averaged 9.19 d, that sold to arrive 9.900 d ; and that sold in the colony 10.04 d net. The price paid to suppliers averaged a little under 9d per lb for butter fat. An amendment was moved by Mr Faulkner, seconded by Mr Jepson, that the balance-sheet be referred back to the directors for further information regarding the total amount received for the sale of butter and the amount paid for butter fat. This was lost and the motion for the adoption of the balance-sheet was carried. Messrs F. VV. Bills, H. Malhieson, W. H. Milward and T. Moss were the candidates ftr the two vacancies on the directorate. The voting was Moss 62, Milward 43, Mathitson 82 and Bills 2. In ‘accordance with the articles of Association a poll was demanded and agreed to. it will be taken at an early date. Mr Wilbefoas was re-elected auditor. It was resolved that more details be submitted in future balancesheets. Votes of thanks were passed to the secretary, directors and the manager.