DAIRY ASSOCIATION.

Gisborne Times, Volume XXIII, Issue 1847, 30 August 1906, Page 3

DAIRY ASSOCIATION.

I’KESS ASSOCIATION Auckland, last night, Tko fifth annual meeting of the Now Zeaian 1 Dairy Association was he'd this afiornaon. Mr Wesley Spragg (chasrm in of directors) presided, and theie was a largo attendance of shareholders. The directors’ annual report congratulated the shareholders upon the exceedingly satis--factory yoir’s business, and upon the generally exoelleut financial position of ihe oompiny. In theoomssof his spo:oh in moving fha adoption of tho report and balance-sheet. tho chairman said that the roports indioated a reooid for the oompany in every way, In five yoara they had paid 1123,000 off debeuiuro account, and also had .£2463 in hand towards its further reduction. In addition to this they had actually paid for an iuoreaso of property of the value of 419964, Taia lattsr consisted of new putchases, new creamerits, new plant, new cjttages, extension, etc,, most of which had been indicated in reports. In addition to tiie amount) mentioned they had to orodii of their bi If. insurance fund £ISOO, und a roserve fund of 413213. All those sums togethor repi o seuted not values whioh had been accumulated at the rat 9 of 418000 per annum, and whioh in five years hai reached a total of over 4140,000 In addition to those sums tho company’s property had in sympathy with the general prosperity, incroasod in value by sevoral thousand pounds. Their maikets, other than the English and 100 il, wore gradually expanding. This was especially tho oaso with Sju.-h Afiica acd tbo South Sea Islands. Tuoy were carefully fostering both these outlots for their commodity with a satisfactory respouse. He had for yeirs past given it as his judgment that dairying in New Zsaland was a permanent institution, and each successive year had confirmed that judgment, Tho past season’s prices were record pvioes, and the prospects were that next season's prices would bo as good, Inieed it was tho genetal expectation that they would be very rnuoh batter. Tho I report and balanoe-shoet were adopted.