TE KUITI DAIRY CO. ANNUAL MEETING.

King Country Chronicle, Volume VII, Issue 595, 20 August 1913, Page 5

TE KUITI DAIRY CO. ANNUAL MEETING.

j The Editor. Sir, —Kindly allow me apace in your columns to point out to the shareholders a few matters of interest that occurred to me. First of all, 1 will draw their attention to the balancesheet, submitted to the meeting which shows a loss of .£163 10s, wifhout allowing for anything in the way of depreciation on buildings, plant, etc. To add further tc the loss, one of our worthy directors proposed that the chairman be paid £SO for past services and that it was a litle surprise payment got up by his fellow directors. I wish -further to say as one of those directors I was not consulted when this little so-called surprise was arranged, and I daresay some of the others were in the same position. Another matter I wish to refer to is the treatment that Mr Darrow, representing- Messrs Green and Colebrook, received. They were instrumental in forming the company, and further allowed themselves to become bonrisme» for a large portion of the money. At one or two of the previous meetings our chairman, in the presence of Mr Darrow took it upon himself to remind ua of this fact and also to impress upon us that it was only a fair thing that Mr Darrow should retain his set on the board of directors. What was the result? Mr Darrow was not among the first seven. I feel sure that if all the old directors had voted for Mr Darrow their votes alone would have put him in. Who are the traitors? 1 contend that as tfcis company is still in its infancy, it is rather tou soon to go past old friends,and that in grasping at the shadow they are apt to drop the substance, Lastly, a part of tha business of the meeting was the appointment of an auditor. Did the chairman in tha excitement of election, forget it?—l am, etc., SHAREHOLDER.