DAIRY AFFAIRS
TOKOROA COMPANY. ANNUAL MEETING OF SUPPLIERS. In addressing suppliers at the annual meeting of the Tolcoroa Co-oper-ative Dairy Co., .Air Long, chairman of directors, stated it was hoped that the final pay-out would exceed 9fd already reported in the balance-sheet. The sale of the factory’s December and January production f.o.b. had proved very successful. He knew, however, there was dissatisfaction among suppliers with respect to the declining of a further offer. This had been a mistake, but the directors had acted on the best advice obtainable. Air J. Campbell stated that in his opinion the directors had, with respect to the future prospects for cheese, been misled by the Control Board. In speaking of the quantity of second grade cheese in the season’s output, the chairman said that Tokoroa was in this respect no exception to other factories. It was apparent that increased care was necessary with hotter weather conditions In 'criticising the year's balancesheet, Air Flavall said that in his opinion it was an unwise procedure for the company to cut down the amount set aside for depreciation on buildings and plant. He did not think it had been a wise policy to reduce the annual deductions for share capital from Jd per lb bulterfat to }d. Such a policy was not looking after the real interests of the company. The release of guarantors should be a point to aim at. The chairman in reply said that the aim of the company’s directors during the years of low prices had been to make the best possible pay-out to suppliers. Air Alossop said he was of the opinion that the earlier policy of the company in Hie matter of the rate of depreciation should be reverted to. Air A. O. Dyson gave notice of a motion to come before the next general meeting to alter the company's articles of association reducing the number of members on the board of directors from seven !o five.
A ballot to fill the two vacancies on the directorate resulted in the election of Alessrs C. E. AYishuowski and J Larman.
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Bibliographic details
Waikato Times, Volume 118, Issue 19662, 23 August 1935, Page 12
Word Count
348DAIRY AFFAIRS Waikato Times, Volume 118, Issue 19662, 23 August 1935, Page 12
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