WAIKATO CO-OP. CHEESE CO.

Waikato Times, Volume 89, Issue 13852, 2 September 1918, Page 3

WAIKATO CO-OP. CHEESE CO.

ANNUAL MEETING. The annual meeting of the Waikato Co-operative Cheese Company took place at the company's office. Ward street, Hamilton, on Friday. Mr W. Goodfellow, managing director, occupied the chair. The directors* report stated:—The quality of the cheese made had been satisfactory. The output had increased considerably, being 825 tons, as compared with 623 tons for the previous season, and a further Increase might be expected at most of the branches during 1918-19. The total payment to suppliers for the 1916-17 season was £45,506, as compared with £68,576 for the past season. Owing to war conditions 'he value of all produce had been steadily advancing during the past few years, and the Imperial Government's payment of lOd net N.Z. would likely be increased by Jd per lb at an early date. The sum of £2126 7s lid was received for whey butter, and must be regarded as exceedingly satisfactory. The protlt and loss accounts showed substantial balances, but as a very considerable quantity of cheese yet awaited shipment, a progress bonu9 would be paid shortly and the balance later, when the whole of the past season's make had been shipped and paid for. It was with great regret that the directors recorded the death of the late Mr Aorangi Payne, of Hairini, who was accidentally killed in April last. Mr Payne was one of the original directors of the Hairini factory, and had rendered considerable service to the company. Mr Chas. Parker, of Hairini, has been nominated to the vacancy. Messrs A. J. Kidd (Aka Aka), Kennedy Ross (East Tamaki), F. Rnwden (Hairini), .}. Pohlen (Matamata), and A. fi. Vosper (Turanga-a-Moana) retire by rotation from the directorate. Messrs K. Ross and A. R. Vosper retire permanently, the latter having left the Turanga-a-Moana district. Messrs James Ross (East Tamaki) and Robt. Trougliton (Tur-anga-a-Moana) have been nominated to the positions thus vacated, and Messrs Kidd, Bowden and Pohlen are eligible and offer themselves for re-election. In moving the adoption of the report and balance-sheet, the chairman stated, that thi total butter-fat received during the year was 1,848,1521b, as compared with 1,396,0261b for the previous year. The total business for the year amounted to €85,434, and the total shares (£2) issued numbered 4749. No profits had b«en carried forward from the previous season. In addition to the usual depreciation provided for —i.e., 5 per cent. on the buildings and 10 per cent, on the plant—a further substantial sum, equal to 2d lb, had been written off the East Tamaki and Hairini branches, this being the money received from the Imperial Government for cheese commandeered. The chairman concluded his remarks by congratulating shareholder's on the progress made by the company, and indicated that a further substantial increase in the output of cheese for the coming season was assured. The report and balance-sheet were adoptod. A dividend of 8 per cent, was declared. Mr S. C. Chambers was re-appointed auditor. The meeting closed with a hearty rote of thanks to the chairman.