NORMANBY DAIRY COMPANY.

Hawera Star, Volume XLVIII, 5 August 1924, Page 10

NORMANBY DAIRY COMPANY.

ANNUAL MEETING. Tli© thirtieth annual meeting of the Normauby Co-operative Dairy Eactory Company, Ltd., was held yesterday, when the chairman, Mr. R. J. Ballautine, presided over an attendance of about 45 shareholders. DIRECTORS’ REPORT. The directors’ report- was as follows: The season, so far as the company is concerned, has been most successful, our output showing a large increase over the previous year. The cheese and butter unsold at date' of balance has been estimated to realise i-e----spectively 85s and 168 s per cwt London. On this basis, and after providing for interest on shares, the balance on hand will bring the estimated payment for the season up to Is 6-i,d, which must be considered most Satisfactory. Lust season’s pay-out was estimated at Is Old, but this was exceeded. the final payment bringing the amount up to Is lOld. The cheese market this season has shown many marked rises and falls in respect to prices. When the price dropped io 82s your directors considered it wise to hold, and their action has been well justified. Statistics for season: Rounds of milk received, 14.469,094 ; pounds of butter-fat, 584,459; average test. 4.03; number of suppliers, 59; total charges (including repairs and depreciation to f.o.b. ocean steamer, on butter and cheese at • per lb butterfat), 3.55 d; No. of cows supplying factory, 2322; average lbs of butterfat per cow, 251.7. CHAIRMAN’S ADDRESS.

The chairman, in moving the adoption of the annual report and balancesheet, said : T would like to take the opportunity of congratulating shareholders on a most successful year of operations. The production for the season just ended has been a record for the company, the cheese manufactured showing an increase of 130 tons, although on. the grading figures for New Zealand there is a decrease of 3 per cent. The spring and autumn were exceptionally good, but very dry weather was experienced during the mid-summer. ’The cheese market has been a most difficult one to deal with, prices in the early part of the season reaching 109 s. but graduallv receding, until during March quotations were 82s to 84s. At this time a meeting of your directors was called, when it was decided to hold our produce, placing thereon a reserve of 91s, which was later increased to 955. This action has been well justified. seven boats, that would otherwise have realised 83s to 86s, making 95s to 965, the gain to the suppliers on ■same being practically £IOOO. In December Mrs. A. W. Page resigned her position as secretary in order to visit England, and several meetings of representatives of the company concerned were held, when it was decided that Mr. A. Latham be appointed secretary out- of a verv lame number of applicants. Unfortunately Mr. Latham did not remain long in office; having to resign on account of ill health. Mr.'Salmon was then appointed to the position, and 1 think we can congratulate ourselves on get.tinc a man of his capabilities. The services of the dairy inspector. (Mr. Wilson) have been retained for another season. The quality of the milk received at the factory during the season, we feel sure, more thairjustifies Ins appointment.

The year just ended has been a most one t or mir m; uiager. great difficulty having been experienced in keeping up the quality of the cheese at certain periods of the season owim* to weather conditions. Mr. Hopcroft is to be congratulated on the article manufactured, and T am pleased to be able to state that we have secured his services for a further term of two years.

I would like to bring before shareholders rather an important event that has taken place during the past month, and that is the formation of a federation of dairy companies operating m South Taranaki. This federation. I feel sure, will be of immense service to dairy companies, and where concerted action in any matter of importance is required, will be able to '"i u' l i Se Such matters as the establishment of a laboratory the compiling of uniform articles of’ association, and the standardisation of balance-sheets, being matters that will receive early attention. There is also another matter that the federation intends to deal noth, and that is in connection with a remit passed at the last annual meeting of the N.D.A. to raise the grading points for first grade cheese from Rfl to 90. This has been fully gone into by one of your < huctnrs, Mr. Cano, and you will no doubt have read his remarks on the subject appearing in the TTawera Star T- "'<■'<>'<* and fully realise 4S™ "* “ °" r ™ mpiin - v is In conclusion T wish to thank mv co-directors and the staff for the valuable assistance rendered. QriOSTIONS ANSWER ED. the adoption of the annual report anu ba aiice-sheet was seconded bv Air L. .J. Preston. ine chaii man pouted out that accorc.mg to the balance-sheet the cost 01 ma.nilacture appeared this year to Je higher than tne previous year. -Actually this was not tne case, as" this •'. eai extii'a items had been included in the total f-ost. On the same basis as , , L , y° : ' v - the cost this year was only -Mr Hughes asked if in the event- of -he I iiif'u h reeling Works closing down or the Norma idly Company sending t.ieir produce through another conw pany .whether they would be liable lor the West Coast Refrigerating Company s shares. 1 lie dim. man replied m the afiirma--11 vc. Questioned with regard to the item on the balance-sheet connection with the Dairy Control Board, the iiuiiiiian said the Hoard was already in operation, and the first levv of bifid on hatter and- j-32d on cheese had been paid. the report and balance-sheet were then adopted. general. It was decided to pay 4 per cent, interest, as in the past.' on lullv paid up shares. The chairman’s honorarium for the past year was fixed at £7o. Directors’ fees were fixed at a gain'd- per monthly meeting. ” The retiring directors, Messrs F. AY. Atkins and W . Alortloek, were elected to fill the two vacancies on the directorate. Jt was decided to nay out one butte rlat payment over the whole season. Air H. --Y Lennon, in conjunction with -Mir A\ . .1. Tristram. was appointed auditor for the forthcoming year. Air Laurent considered it was high time that the comoany took in cream, he pointing out that they should not leave it until too late. The manager, Mr Hopcroft, said it would b& necessary for the company

to make extra provision for the “taking in ; ()f Hiouie separated' cir'eam; ’ and lie would have to make a report on the matter to the directors. Votes of thanks were accorded the manager and staff, secretary and directors, and the meeting closed with a vote of thanks to the chair. A notice of motion moved by Mr H. I. Crocker, altering the voting power of the shareholders, was withdrawn at a subsequent meeting.