KIA ORA CO-OPERATIVE DAIRY COMPANY.

Gisborne Times, Volume XXV, Issue 2051, 30 November 1907, Page 2

KIA ORA CO-OPERATIVE DAIRY COMPANY.

FIFTH ANNUAL MEETING. The fifth annual meeting of the Kia Ora Dairy Co. was held m the Mu kauri schoolliouse last night. Mr. E. Knight, chairman ol directors, presided. There was a large and representative attendance, keen interest being displayed in the working of the company. The renoft and balance-sheet (previously Published) were presented, and a .rather warm discussion eventuated, several shareholders taking exception to the manner in which the balance-sheet was prepared, considering more detail desirable. After a considerable number of questions had been asked and .answered, the balance-sheet was eventually, unanimously .adopted, on the motion of the Chairman, seconded by Mr. It. McCarthy. The question of directors’ fees was next raised, a number of shareholders .affirming that they did not know the directors were paid at all. It was explained that what the directors received was merely their expense,? to compensate them for loss of time in .attending Board liieetings.

The recommendation of the directors that the amount standing to the credit of the profit and loss account be written off for depreciation was adopted on the voices.

Sir. J. A. Caesar .proposed, and Sir. E. Cameron seconded, that Mr. H. SI. Porter he elected auditor to the company, at a salary to be,fixed by the directors. This also was Carried unanimously. The three retiring directors, Messrs. Knight, McCredie, and Diman, offered themselves for re-election, and Sir. A. F. Matthews was .also nominated. Sir. Matthews said that when he was nominated be had .understood that .another director had resigned. As he did not wish to oppose either of the three .gentlemen seeking reelection, he requested to he allowed to withdraw his nomination. Several of those present, however, expressed a desire for Sir. Slattliews to stand, and finally he consented to do so.

A ballot was then taken, and resulted in favor of Messrs. Slattliews, Dinan, iand McCredie, who were declared duly elected. Sir. Slattliews briefly returned .thanks for being placed at the.head of the poll, and hoped that he would continue to merit .the approbation of shareholders.

Sir. Owen - Gallagher remarked ■that he looked upon the result of •the ballot .as a reflection on the Board. He wias sorry to see Sir. Knight excluded, as he had .done so much for dairying in the district. The speaker concluded by asking the meeting to recommend Sir. Knight’s appointment- to the directorate next month, when another vacancy occurs. Sir. Knight said ho would not stand again. "While connected with the company he had always tried to be just hnd fair in his dealings towards everyone.

The proceedings terminated at 10.30 p.ih.