N.Z. FARMERS' DAIRY UNION

Dominion, Volume 12, Issue 301, 16 September 1919, Page 8

N.Z. FARMERS' DAIRY UNION

- ; ANNUAL MEETING. : !By T"leera,ih—Special Correspondent. :■'"-' Palmorston North,' September 15. r The annual! meeting of the New Zealand Farmers' Dairy Union, Ltd., wa9 hMd-'at Palmerston North-to-dnyy Mr. Thomas Parsons (chairman of directors) presiding. '■ . ■• -The twenty-sixth 'nniiual.-report-men-tioned ■■ that 'the outstanding '■ feature of the. year under review was that the new factory- .building, at. Palmerston'.. North was completed in time to deal with the •past season's cream.. The influenza- epidemic lwd caused a'severe, check, to cream supplies, -and again at the end of the season the lon?.dry spell hud cut supplies down and came as a climax to the ■already disappointing • season. The. rej suit, was shown in a, drop of-about 35 tohs in tbe-oiitput. However, nothing at present was shadowing the. prospects for a.better season, now just starting.'.Tlie flow of cream, from the home separating suppliers : was still ■ the 'company's mainstay. ; : Having only two ; creameries', in operation liow, the output might be said to depend almost entirely on the home sepaiatcdl.crcflm. Tlie butter manufactured was 353 tons' lGcwt., of which 190 tons were ;60ld to the Imperial Government and the balance, was sold locally. In. order to secure new business.it had ■foeeno-iiocess'r.ry ■ to .venture somewhat heavily in,moiling loans to-suppliers,-and this .branch had developed,into an important- adjunct- to the butter-malting business, and while proving remiineratire it - hud-entailed very.-'careful handling. The position generally warranted the -payment" of the usual dividend and a •further: payment lo suppliers of l|d.. and "the directors formally recommended this course. The manufacturing, account disclosed" "a*-credit bilnnce of ,£9129 19s. I0d.„,„ -'A ' •-. .. The toiiort and balance-sheet were ndopted. on the motion of the chairman, M'ho. said the finances of the company were -now in' a sound- position. ".- Mr. A. Stallard 'was elected to. the directorate, vice- the liiie.Mr.' C. Voss.