ARAHURA DAIRY FACTORY

Hokitika Guardian, 29 September 1930, Page 3

ARAHURA DAIRY FACTORY

I 4 MEETING OF SUPPLIERS. The 2oth. annual meeting of the shareholders of Arahura Dairy Factory Coy. Ltd. was held in the County Chambers on Saturday afternoon at 2.30 o’clock. There were present. Messrs Bernard Ward; (Chairman of ■ Director's), in the chair, and 15 shareholders. The minutes of the last annual meeting were read and confirmed. . ' MOTION OF CONDOLENCE. ■..:-uThe Chairman stated he first wished to>4'efer to the death of one. of their oldest.directors, the Hon. H. L. Michel', who had passed away since their last .n'nnitu'l meeting. Mr Michel had been a drffector since the inception of the 'tftriipany -and hie advice had always been of the great advantage to the Gehpany and his fellow directors. He moved -that this meeting of shareholders of the Arahura Dairy Coy. -plhce on record its deep sense of the loss sustained by the death of the Hon. 11, L, Michel, and that, a letter of -.sympathy be forwarded to Mrs Michel and" .family.

7/'the -- motion was carried in silence, the-iheeting standing. :REPORT AND BALANCE SHEET.

•r. The annual report and balance-sheet (ali-eady published) having been circulated" lb~sKhrelioldei's was taken as read.

The Chairman said, the balance sheet was a very successful one. He was very pleased at the satisfactory position shown. The output for the year was just over 98 tons. Our Manager has been turning out a very fine quality. This- was proved by the fact that .he had. won the gold medal ftr the 'South Island for two years in succession. The amount paid out to sup,iiioi'R;for butter fat, 1/4 1-16, was the highest pay out on the Coast, ami- compared very favourably with other parts of New Zealand, so that supplies 'should be very pleased with the result of the past season. He saw no ,reason, why the output, of, flip Valley should,, not' reach' 100 . tons’, , The; dividend, recommended was for 6 per vent., 1 which (had'. been' paid., for . the Irst 20 ' years, which also Was a record. The retiring directors and auditor were eligible for re-election. He would ask jtbeipvtQ increase the, fee-the 'this year,'from six.' to eight vgpmeas in recognition of, special; work "carried oiit. They/bad been able near the end of the year to " have’s-Id 25 tons of their butter at 1/4 less 1 per cent., which had assisted to place the Coiifpany in its present good financial position. He wished to thank Mr Perry for /tbjfe assi i sta;nce. > )ie had.given.-during the his help that the financial position was so satisfactory to-day. ; He moved the reception and adoption of file report "andf balance sheet. Seconded by Mr J. King and carvi'ied. ...

The retiring directors, Messrs B. Ward, J. King and D. Bradley and the auditor Air R. 'Wild were* i‘e-olooted ■pit :vdiseussippj.,iili© "au-ivideria.- alsb heirilg'' .agreed to'; ?' '

In reply an an enquiry by Mr Bond, the Chairman explained the position of the cash balance shoAvn in the balance sheet, which hjtd enabled out-/ stdfi4ihg'/acebiirits and the balance: of the pay out on butter fat (or bonus) to;he made. The meeting then terminated. ‘ "i -MEETING OF DIRECTORS. The Directors met at the conclusion oftlie'annual meeting Mr B. Ward presiding, Mr T 3. Ward was re-elected Chairman of Directors and Mr J. King was reelected treasurer. / : . A letter was received, from Mr A. B; King resigning his position as secretary owing to continued' ill health. , The Chairman moving that the, resignation he accepted with regret paid 4 high tribute to the splendid sendees, rendered by Mr King during his many years of service as secretary and he deeply regretted that ill health, ha.tl ’necessitated his retirement. He 1 rusted that Mr King would speedily recover to his normal condition. The motion was agreed to. It was resolved that Mr A. R. Eljoclffbed appointed secretary to the Company, t Vafiou s matters affecting the welfare of the Company were dealt with before the meeting terminated.