Westland Cool Storage and Dairy Company Ltd.

Hokitika Guardian, 15 October 1925, Page 1

Westland Cool Storage and Dairy Company Ltd.

THE CHAIRMAN'S ANN FA L REPORT.

Ihe annual meeting takes place at I I o’clock next Tuesday morning at the Factory. The Chairman will sulimit the following report : Again your Directors have much pleasure in submitting this, the Second Annual Report and Balance Sheet for your consideration. Considering this is hot the second year’s operations, shareholders can he congratulated on the remarkable growth, and satisfactory state of the Company’s business. Ihe Factory opened for the season on Ist August, 192-1, and closed on the ■list July, 1925. The number of suppliers co-operating amounted to 12-1. the last season S 7. showing a.nd increase of :S7. The amount of hotter manufactured was 170 tons. For the previous year S2 tons, thus disclosing the phenomenal increase of over 1(10 per cent.

Of this amount -12-57 boxes (Jill! tons' were exported, all scoring Jirst grade. The majority of returns from London slate Duality iinest. flavour choicest." The balance was sold mi the local markets, and gave every >ntis--laetion, increasing our business beyond expectation, inasmuch that we were unable to cope with the demand and were forced to purchase outside butler to keen tin connections.

Fnfortunatelv. although we paid the highest price, the quality of the purchased hotter was not, good, and was very disappointing. However, we hope to he hotter prepared for next winter, and will store

sitHlcient of our own manufacture for local requirements, tints maintaining that high standard of quality the consumer is assured of in the “ Westland ’’ wrapper. The total sales lor the year amount to over <510.<100. The (.'ream sales for omistimplion amount to L'9>7. which is very satisfactory. The frozen pork industry shows good prospects, over 100 pigs being torwarded to Canterbury. Prices received tufa fillers have been satisfactory, with the exception of one consignment, when the Addington market showed better returns. Iluwevvr. as the live consignment method to Addington is so fluctuating and disappointing at times, producers will realise the benefit ol more staph' returns through the factory.

The fee and Cool Storage part ot the business has also proved satislaetorv and shows promise ol increasing profit to the Company, and convenience to t lie district.

The payments made to suppliers were us follows August 2s. SepteinIht and October Is ,d. November Is l'*!. December to March (inclusive) Is 2d, April Is Id, May Is Id. June Is lid. >1 ulv 2s.

A further payment to suppliers of 1 ;d on all butter-fat supplied during mouths of December to March (inclusivel is to he made promptly with their cream cheques. This amount will bring the payment to Is 5d for llic season which when cou-Jdering l lie company undertakes all the carting, and freight on cream to the laetory. is most satisfactory, it is worthy of mentioning the fact, that the Company’- colli'cling lorrie- tisil every dinging di>iri"t m Westland.- Jcremaknu S,-t 11, m-m: (hi isti hur. li Read Kumarn. Arubuiu. Kokalahi-Kmiei - augi. lota ra Valley-Ross. Mikonui. Mai la hit Valley, Harihari, lie repo, to Alt. Ilerettlcs, and (ream is also being reeeiied from, the W a lama District. Discerning tanner- will at once mile the achievement, and great possibilities lor better return-, a- the output

of the factory grows. E roll i the surplus, and alter a Hewing lor the bona-., liberal depreciation having already been deducted, youi Directnrs recninmend a dividend ol t! per cent, on fully paid up shares, and tla- balance to he carried forward to reserve. Your Directors advi-e Shareholders that the factory, plant and machinery, are in lirsL-eltiss order. The .Managing Director (Air 11. T. Parry) continues to share our utmost confidence, and to him and his stall' uc extend our best thanks, for upon thei. services, in no small measure, arc wo indebted, enabling ihe production or Hus most excellent report. (Signed) AY. A. JAM I ESoX. Chairman.