WESTLAND COOL STORAGE & DAIRY COY LTD

Hokitika Guardian, 19 December 1927, Page 4

WESTLAND COOL STORAGE & DAIRY COY LTD

CHAIRMAN’S REPORT. The fellow ing report will he considered at. the annual meeting of the Company to-morrow: — ' -Your Directors have much pleasure in submitting this, the Fourth Annual Report and Balance* Sheet for your respri ted ronsiderntie n. Unfortunately the Company, in common with other dairy factories, has been forced to make up deficit- incurred on previous years sales realisation. As .suppliers are aware the methods imposed by the* Dairy Control Beard were responsii.lc* fur the dislocation of former successful trading relations, and the disorganisation resulted in lower prices being realised for the period, for which, of course the management was not in any way responsible. ‘‘Notwithstanding the foregoing, it is with great pleasure wo advise .shareholders and suppliers alike that we have paid off all deficits and commence the new season with, as it were, ‘‘a clean sheet,” Suppliers, and more especially new customers, should therefore make special note ol this fact, and can lie assured of no further reclamations en this season's bill ter-l'a t.

‘•The interim payments made to suppliers have been as follows:—August. 2s, September Is 7d. October to February Is, March to May inclusive Is Old, June and July Is Id. These payments, together with the further payment of Id on nil buller-lat supplied, bring the payment to over Is Id per Hi. Your management deem it inadvisable and valueless, to make deductions from previous payments tor over-payment, to meet deficits on past operations, and then merely show a. larger payment on subsequent season's trading. Tt is sufficient to state that reclamations amounting to over ltd have been refunded, which, if added to the year's operations under review, would make the season's payment to,a. little better than Is 2id per lb for finest. This price, doubtless shows satisfactory and economic working.

“Suppliers should also realise indebtedness to the Company, rn free cartage of goods and passenger service available to them to all parts of

'Westland. The Company’s operations for centralisation and utility arc constantly increasing and becoming more apparent, not only to our own suppliers, but to farmers throughout Westland as well, and it is right to state, the amalgamation scheme so favourably advised by expei ts, is becoming more popular amongst farmers and may eventuate at quite an early date, when loncr-nlrated farming interests would further enhance returns to all producers of Westland.

‘■The butter manufactured has given entire satisfaction to merchants, large quantities going on the Christchurch and Greyinouth markets for local consumption. The balance was exported, over f)o per rent being graded as finest, which reflects much credit on the staff. . The lowest grade note was 921 and the highest 94. •‘The Directors desire to record the Manager’s energies in undertaking several contracts for the erection of petrol pumps. The work gave complementary* satisfaction to clients and v.as profitable to the Company. ‘•During the year the frontage of the Company’s premises has been completed. The structure is now a very prominent and imposing one. and adds much importance not only to the farming interests, but to the town as well. Tin; possibilities and progress of the district are reflected, even to the casual observer, by the appearance of the building. We. desire to express our appreciation for the above result, to our Managing Director, .Mill. T. Parry, who has personally performed the work.

“Tito surplus account can again be increased by profit from the year’s operations, but your Directors suggest, instead of paying !\ dividend to carry over the same ,to reserve.,- . , “The factory plant and buildings are in an excellent state of repair,

practically no repairs and renewals having been made, or to l>o undertaken. “On the whole, your Directors express satisfaction with the year s work, and confidently believe the Company will enjoy continued prosperity, which will be reflected in the dairying advancement of Westland.”