Westland Cool Storage and Dairy Coy Ld

Hokitika Guardian, 17 January 1929, Page 3

Westland Cool Storage and Dairy Coy Ld

The annual meeting of the above is fixed 'for next Monday forenoon. The following is the Chairman’s Report to he presented to the meeting of share holders:— In submitting this, the Fifth Annual Report and Balance Sheet, your Directors have much pleasure, and congratulate Shareholders on the success of the year’s business. Owing to the extreme uncertainty of the Home Markets, your management held for periods, releasing gradually. Under the circumstances the prices realised were satisfactory. The number of suppliers co-operating still increases, and 135 sent produce t > the factory during; tbe year under review. Over 02 per cent of the butter forwarded for export was graded as “ finest.” The local sales have considerably increased, a large portion being retailed on the Christchurch market. The amount of butter manufactured was 145 tons, an increase on last season. The sale of ice, and cool storage receipts, together with the sale of pasteurised cream, revenue from agencies, and outside contract work, added very materially to the profitable side of the balance, enabling increased payment for butter-fat. The average payment for finest cream during the year was Is s|d, such price ranking with the record South Island payments. Such payments, added to the services rendered gratuitously to suppliers, farmers are appreciating, as is evidenced in the increased supply for the present season. The surplus for the year amounts to 62.614, from which a bonus of 2d per lb has already been made. The balance, being profit, can be added to the appropriation account, making same £SOO. Your Directors propose holding this amount in reserve. During the year a 2-ton “White” lorry was purchased, bringing the collecting plant to a very satislactory state of efficiency. This, together with the factory, machinery and plant in excellent order, is a matter for much congratulation. The management and staff have carried out their several duties conscientiously and well, and to them our best thanks are due. We again thank suppliers for their esteemed patronage and support, and advise, as their numbers to our factory grow, the increase enables us to pay still higher prices for butter-lat bv reason ot lessened cost of manufacture. W. A. JAMIESON, Chairman.