KIA ORA DAIRYING COMPANY

Gisborne Times, Volume XVII, Issue 1360, 21 January 1905, Page 2

KIA ORA DAIRYING COMPANY

ANNUAL MEETING. The annnal meeting of shareholders of tho Kia Ora Cc-operative Dairying Company was held last evoning in the Makauri schoolroom. There was a largo and representative attendance, Mr W. F. Acland Hood presiding. The following report was submitted : “ The directors have pleasure in submitting tho accompanying balance-sheet and profit and loss account for the twelve months ended 31st August, 1904. “ The year’s trading resulted in a profit of L 326 10s sd, off which has been written the loss on the previous year’s expenses Ll4l 17s 6d, and also L3O 9s, being the cost of the amendment to the company’s Memorandum and Articles of Association that was necessary to enable the company to carry into effect tho proposals for amalgamation with tho Poverty Bay Co operative Dairy Company Limited. After writing off these accounts, there remains a balance of L 9 16s 2d, which is carried forward to credit of that account. “ In terms of the agreement for amalgamation with the Poverty Bay Co-operative Dairy Company, the Kia Ora Company took over the management of that company’s factory and creameries as on the Ist September last. It was hoped that the agreement would have been fully carried out by this date, but Borne of the legal details are not yet completed. The agreement contemplated the election by tho amalgamated companies of a new bourd of nine directors at this meeting, but owing to the non-completion of the amalgamation proposals, it is not yet possible to appoint members of the Poverty Bay Company as dirsotors. It will therefore be for the meeting to formally reappoint tho present directors, who will hold office until the amalgamation is completed. “ The whole of tho output for the past year was first grade, and brought very satisfactory prices on tho London market. Tho directors have to thank Mr Ciesar, who has . lately returned from a visit to England, for having while there devoted a large amount of time and attention in ascertaining what improvements could bo made in placing the output on the Homo markots. The company’s London agents spoke to Mr Cic?ar in high terms of the condition in which tho Kia Ora shipments invariably reached LondoD, and by last mail thoy advise having disposed of the company’s first shipment for the present season at top market prices. To obtain satisfactory financial results tho quality of the output must be of tho highest standard, and tho directors oannot too strongly urge upon the shareholders tho imperative neoessity of their doing all in their power, by constant and careful attention to the milk supply, to assist the manager and staff in producing a butter of such high quality as will enable the Kia Ora brand to hold its own against all competitors. “ Following are the particulars of the working of the company for the year : Lbs of milk received 7,413,132, lbs of

cream received 20,876, lb 3 of butter fat paid for 298,548, lbs of butter made 334,239, lb 3of butter made per lb of fat 1.12, lbs of milk to make lib of butter

22.61, average test (milk) 3.95, average test (cream) 27.16, average price paid por lb of butter fat 8.015, total amount distributed L 9970 16s.

“ Your auditor, Mr W. S. LunD, retires at this meeting, and being eligible, offers himself for re election.” The Chairman said that the shareholders must be satisfied with the balancesheet before them that night. They had wiped off the loss on the previous year’s transactions, and were in a very stroDg position and in a very fair way for a long and successful oareer. Ho wished to guote

a few figures to show the growth of the

company. They had just about doubled the amount of milk put through, working 71 million lb of milk for the last twelve months. The overrun was 11,05, and the oost of manufacturing and marketing 2.08. For tko 8 months ending 31st August, 1903, 2,716,244 lbs of milk wore received against 4,551,465 for the corresponding period of last year. Butter fat 118,528 for 1903, and 192,469 for 1904. The difference between tho amount of milk received for tho 8 months of 1903

and the 8 months of 1901 was 1,835,221 lbs, and for the 12 months of 190 d was 1,696,888. The difference in the amount of cream was 13,d99 for 8 months and 20867 for year; butter fat,73,9dl and 180,020. For the past two seasons thoy had not sent Home a singlo box that was not first grade butter. (Applause.) Another item was that the over-run had gone up from 7T to 11 95, which he considered highly satisfactory. They would receive great benefit from ar Igamation, but would require to improve their dairy herds. Ho considered they wore not as good dairy farmers as they might be. They had a splendid climate and pasture, but they did not feed their stock sufficiently during the months of July, August, and September. He reminded farmers that the Dairy Act now in force provided that all yards should be kept in good order and paved. This would work well if the leaseholders received compensation. The landowners should bear the cost, and not the tonants. Another thing the balance-sheet showed was that Mr McGregor’s mortgago had been considerably reduced, and they would soon have this debt paid off. He moved tho adoption of the report and balancesheet.

Mr Malone seconded the motion, which was carried. On the motion of Mr E. Cameron, seconded by Mr Brooking, the present directors were re-elected for the short period that had to go until amalgamation was completed. Mr W. S. Bunn was re elected auditor.

The Chairman proposed a hearty vote of thanks to the manager, secretary, and staff of the Kia Ora Dairy Company for their services. He also paid a tribute to the Government Dairy Department for advico and assistance in rogard to the improvement of the over-run. The meeting closed with a vote of thanks to the Chairman, proposed by Mr Malone.

“East Capo reported yesterday morning S.E. breeze, barometer 29,98, thermometer 74, blue cloudy eky, moderate sea,