MEETING OF SUPPLIERS

Bay of Plenty Beacon, Volume 9, Issue 2, 31 August 1945, Page 5

MEETING OF SUPPLIERS

RANGITAIKI DAIRY COMPANY

/ RECORD TURNOVER LISTED

importance OF PIG FARMING

Some sixty-five suppliers attended the annual meeting of the Rangitaiki Dairy Company shareholders which was held in the Edgecumbe Hall last Wednesday. The meeting was addresteed at "length by the Chairman of Directors Mr W. A. who enlarged on the Directors' report and stated that generally the year had been a momentous one in the Company's history and the results of many of the ■deliberations now put into effect would have far-reaching reper. -cussions in the future.

"Mr McCracken stated that the output for the year had been 4791 tons of creamery butter agains.t 4501 tons for the previous year. The increase of 289 tons was due to the favourable production of butterfat in the last six months! of the season. Referring to the quality of the cream received by the he said that 22 ? 509,1241bs of cream were ;graded as follows : Superfine 77.30 per cent; First Grade 22.54 per cent; Second Grade .16 per cent.

No additions involving capital expenditure had been made to the buildings and plant during the year, -and the company's assets had been ■conservatively valued the Directors Reeling that in these uncertain times careful . attentipn should be given to the maintenance of buildings and proper allowances set aside for adequate depreciation. The Pig Farm The pig farm showed a nett re--turn of £2549 representing approximately 10s, 7d per ton of butter manufactured. The production of pig meats was an important question which the Directors had given •careful consideration to and to this end it had been decided to develop the farm considerably and. to spend, substantial sums on the provision of additional and improved farrowing houses and to concentrate on sl new layout. The factory he said showed a turnover for the year of £91,806, the figure being a record one for the company. The. five per cent rebate on all purchases was paid back to the suppliers and .amounted to £4172. Total payout . Dealing with payouts, Mr McCracken said that for the 1943-44 season the estimated average payment over all grades was 16.678 d per lb. For the current season, an average advance of 13.998jcl per lb was already made over all grades and a further penny per pound was paid out for the twelve months ending .June 30. The appropriation account balance woul'd allow a further payment of 1.678 d per lb and this when added to the advance payments would bring the season's average up to 16.676 d and with the dividend (.067d) and store rebate (.112d) would make the total 16.855 d. With the farm cost allowance averaging 2.860 d the total average payment over the season reached 19.715 d. Export butter stocks on hand at the end of June bad been valued at Government guaranteed prices less the Dairy Board levy.

Staff Position Mr McCracken mentioned also that Mr J. Rutherford had relinquished his- duties as factory manager after a long period of service. His position had been taken by Mr J. J. formerly manager of the Hinuera Dairy Company, who at one time had acted as lirst assistant i n the ißangitaiki Company's factory. "The problems relating to rates of wages and hours of work had been both involved aird numerous during the past season > and the Directors were very grateful to those who so willingly assisted the Company during the short but most acute emergency period in the. latter part of the season. Receipts Nearly Dealing with the turnover the chairman stated that receipts from tile various departments totalled nearly a million pounds. They were made up as under:— Butter Sales £688,930 7 9 Store £91,806 19 5 Pig Farm £10,059 10 S Mechanics Shop £5,289 9 5 Blacksmiths Shop £3,466 I f 10 Veterinary Dept £1 ,D(il 1 5 Sundries £808 17 2 Rebates £353 1 J

Herd Control £146 18 5 Farm Cost Allowance £106,192 0 9 Factory Cost Allowance £9,883 11 8 Wages Cost Allowance £2,777 0 8 Total £921]778 13 6 The farm costs allowance was made over by the Government ostensibly to offset the rising costs encountered by the industry, but in effect, said Mr McCracken, it was, not to be regarded as a stvaightout Government grant, but rather the diverting of the butter market credits in the Old Country which had been held in the Dairy Industry Stabilisation Account. The true position was therefore that these allowances were in reality merely the handing over to the farmers of money from their own produce..

The grand total receipts by the Company was therefore the record figure of £921 } 778 13s 6d. Decline in Grade Referring to the grade over the year, Mr McCracken said that this had fallen from 93.516 for last year to 93.263 for the present year. The premiums received were reduced as a result from £1603 14.s ldl to £273 12s 8d a decrease of £1330 l.s .">d. Messrs J. Mullins and 'J. Marx raised questions with regard to grade and factory costs, and were replied to by the Mr I. B. Gow j and the secretary. Mcnti<*iing fuel costs, the chair-1 man made the interesting statement that the Rangitaiki Company was the only Company in the world operating three vaeretors. (improved type of pasteuriser and deodouriser. Four P«*r Cent Dividend In accordance with the Directors' recommendation it was agreed to pay a dividend of 4 per cent absorbing the sum of £2387 5s 11 d. The auditor Mr Miles Hamill, A.P.A.N.Z. was reappointed ? and scrutineers for polls covering the election of directors were elected in the persons of Messrs E. J. Bell, C. A. Le Lievre and J. Mullins.

The chairman in the coursc of j general discussion stated that the Company had been responsible for bringing forward an important remit for the Dominion Dairy Conference. The suggestion had been given a good reception and he read the purport to the meeting. The proposals he said ? had now been brought forward in amended form to the recent conference and Mr McCracken expressed the opinion that if these were given effect to they would be widely welcomed by the dairying industry as a whole.

The. meeting concluded with i hearty vote of thanks to the directors and staff.