Arahura Dairy Factory Company.

Hokitika Guardian, 9 October 1922, Page 4

Arahura Dairy Factory Company.

AX.VITAL" MEETING. Tlui seventeenth annual meeting «l shareholders of the above Company was holtl at the County Chnmhcr.s at 2.4 A o’clock on Saturday afternoon. fVes4.it: —Alvesrs 75. Ward (Chairman of Directors), .1. AleOuigan. \\ . Bradley, .1 .Bradley. A. Richards, ,T. King. ,f. .7. AlcTntosli. 1). .1. Evans and G. A. 'Perry. The minutes of the former annual meeting being held. Air Ward moved the reception and adoption of the annual report already printed and circulated. In doing so he said he telt he could congratulate the shareholders on the year’s work. Each succeeding year of their operations was a record, and last year was not any exception. They again showed an increased output, the total reaching 70 toils of butter. It must not be considered that the limit had been reached. Alore intense cultivation, the clearing of more lain!, the use of limn and fertilisers would help, and lie thought an output of 100 tons was within easy reach. The output had been sold locally chiefly. The. directors considered it was prefeiT.alile always to sell locally it they could, for various reasons. The amount paid for butter-fat was Is -Id per pound, and no neighbouring factory had done better. The year before they had paid 2s Bd, the highest on record for any butter factory in New Zealand. Probably that rate would not he reached again. The bal-ance-sheet showed a credit balance ol £147, from which it was proposed to pay a dividend of 6 per cent, absorbing £92. The reserve fund now stood in the vicinity of £7OO. During the year their Afanagctr had resigned, and m appointing Air Alack Wallace they had secured n young, experienced manager, who had served his apprenticeship with them, and knowing the district well should prove a great success. The facts disclosed in the published report were satisfactory, lie was sorry more .shareholders were not present, but evidently they had faith in tliei directors.

Mr D. Bradley seconded the motion for the adoption of the! report and balance sheet, which was carried.

The retiring directors Hon H. L. Michel, M.L.C. and Messrs J. J. McIntosh and J. Ha will were declared reelected unopposed, also Mr IV. J. Houston, auditor. Mr Evans moved a vote of thanks to the Chairman, the directors and Manager for tlici results achieved during the past year, and congratulated tho Company on its affairs being in such good hands. Nearly £I2,IKK) luul been circulated among the*, suppliers during the financial year, which was a fine result from a company of such small beginnings. Mr Richards seconded the 1 motion. which was carrie. The Chairman in acknowledging the vote of thanks, referred to Mr A. 13. King’s services as secretary, and moved a vote of thanks be recorded. Mr King had paid very close attention to tho affairs of the Company, and they were greatly indebted to him ior the fidelity with which the important duties of his office had been carried out. Mr MeGtiigan seconded the motion which was carried.

The meeting then concluded, and the directors resumed in Committee, Mr B. Ward being re-elected Chairman of Directors for the year.