Shannon Notes

Horowhenua Chronicle, 24 July 1915, Page 3

Shannon Notes

-? [By our Resident R«pres«ntative.] J)AIR l COMPANY. The seventh annual meeting of the Shannon Co-operative Dairy Company Limited, was held in the Druids' Hall on Tuesday. There was a attendance of shareholders and the thairn.an of directors, Mr E. Law, presided The directors' seventh annual leport covering a period of eleven months ended 30th June, 1915, congrate dated the shareliolders ou another successful year. Although the outlook for dairy produce at the beginning of the reason was not good, owing to the wav, tho great demand for all products soon pit 1 ; | prices up to a point probably -lever \ reached before. The quantity of butter manufactured was 303$ tons, an in- ) crease of 38 tons for the perio I. Of \ this 6832 boxes were shipped + o Lou'•don and the balance sold in New Ze: land for local consumption and shipment to Australia. The following pi'ices have been paid tor but-'rtat: August, October, November 12d : September llid; December 12 $d ; January 13d; Febiaittf'J^lSJd; March lid; April lod ; May and 'tHine Kid. This with the extra payment proposed gi.vs an average of 13.(i9 for the season. The balance to profit and loss after paying all working expenses is £19(j(i lis 2d, this with the balance brought forward from last year makes the substantial sum of £2(319 lis Bd. We have written off the sum of £-i 11 IDs Bd, and propose to deal with the balance as follows: Bv an extra payment of 1' pel lb on butterfat supplied in November, December and January, by the payment of a dividend of 0 per cent on the paid-up capital and carry the balance forward. Store sales for the period amounted to £8050 lis -hI. all increase of £3018 15s (3d. Tho gross profit ou this account was £220 2s 3d, after charging the store with a fair proportion of wages and working expenses. a net profit of £35 2s 3d shown. Messrs P. W. Brown and W 7 . Taylor are the retiring directors, being eligible they offer themselv.vs for ro-clection. Messrs H, Kembor and tSon are the retiring auditors; they offer themselves for re-election.—E. Law. Chairman.

The balance-sheet slunved that the assets of the company totalled -Is yd; the liabilities included ,api L il acoount £1308 3s, sundry jredit.vs JL'l3l'J l(Jt>; mortgage :icet>"'it £'! 7 .'0, .Bank of New Zealand !)s 9d; for {'cited shares £27 10s. Profit a'id lows account £2174.125. The profit and loss account showed that the 'Hr-tor sales amounted to £38,708 Is id but tcrmilk sales £5-1 12s lOd: store en 1 • £8025 14s sd; butter stocks £825 3s I ' a: ore stock £1171 7s (id- 0.1 ill, otlier hand the amount paid to iniik suppliers amounted to £32,017 lis 2u and there was a balance of £217-1 12s The report and balance-sheet were adopted on the motion ol Mr Barbel seconded by Mr Galloway. 'Mr E. Law moved and Mr Barber seconded that a bonus of £50 be vote.' to'Mr Judd in appreciation of his good ■work for the company. The motion was carried 11 mini uously Mr E. Law then presented Mr and iMrs Judd with a sterling silver tea service as a token of esteem from the shareholders and staff of the Dairv Company. Mr Judd suitably acknowledged the gift and expressed regret at leaving his old friends in Shannon. The election of directors then took place and resulted in the re-cl iction of Messrs Waring-Tavlor and P. U. Blown. Messrs Keinber and Son were reelected auditors. A very hearty vote of thanks was passed to the staff and directors. Mr Aim responded 011 behalf of the staff and Mr Law 011 behalf of the directors. This concluded one ol Hir most successful meetings of the company over held in Shannon. At a meeting of the directors held subsequently. Mr E. Law was reelected chairman.