Te Rau-a-moa Co-operative Dairy Co., Ltd.

Kawhia Settler and Raglan Advertiser, Volume IV, Issue 278, 28 September 1906, Page 2

Te Rau-a-moa Co-operative Dairy Co., Ltd.

! THIRD ANNUAL MEETING. Ou Saturday, the lath iust„ tbe third annual meeting of the above Company was bold at tbs fsctorv, when about a dozen sharebol ids attended, Mr L. Wiley, chairman of dir.c'.ors, presiding. The minutes of the last meeting we e read and confirmed, The Secretary read the balance sb.et and the following director’s report :- \ our Directors have to report that the third sears.-n opened on October 10th ia-t and eluted on April'Mnd, l'jo«. During that period 463,.*031be. of wilt were purchased fro.ri supplie e, producing j 16,6851bt, of .outter fat, valu.-d at <£ll7 2s 6d, which produced >8,873!b5. of butter, valued at X7*44a 7'l. shvwi jg a gross profit of <3f7 :i« 7d. I’he general expenses were JJI6B ll« 8d and the working expenses Jtm> is, th UB Showing a liut gain O a transactions o JJ-.’l sd. !v gives your Directors pleasure in being able-to t&U that for tbo fir»t time since tho Company started the season's transaction* in a profit, This should be encouraging to shareholders, especially to wises taking into consideration the obir.ac’.es that have cropped u y an j failure of eome <>( the shareholders to assist The good remits jobtained this sm-eon are n.tt ibut d s-j a redaction m some of the gener,l and working uM*«nse9 an-1 to ' th* good price obtained forbuttur. Whilst it is pleasing toffiud that wc hsve made a tf4 j a on the Reason’s t'fausactions—afeer paying wore for batter fat than other seasons—we regret, that the upplv i- a long way frutn wjiat it Jshould bo, coußequent'y the ftask

t ,iw I'iree.urs u«eu a Miuicult one. ' if thn supply w-.® grwator i- would be iuu- i I t .Uily beuelicUl to all ooavtrasd. The price ! ■ paid for butter fat this season was utl per i ■lb , ;.nd if *ll interested would a»-riat io : • i er?SB • th® s apply this Company would I i P.ly out q'l’ta an much as other oompanics. ! and once on a sound bash prosperity t® the Company would bo assured. In cocelu- ! aioa your Directors hope that more aharoa iu | the Couaptuy will ba taken up, and that I 81 1 infcereafcel will endeivour to increase I the supply for the mutual benefit «f all.— . L. WILEY, Chairma*. Mr Judd remarked khat at the lass

■ annual meeting certain amounts were ’ promised to assist the suppliers, and I asked was the money ever collected ? • The Chairman : No. The directors j think it would be better if shares were taken up. Mr Judd remarked that it seemed J rather heavy to write off I*loo for deI predation. ! Mr A. Ormsby agreed, and said that i the bank manager had said that the { amount was excessive. The Secretary (Mr J. A. Ormsby) : I The bank manager instructed me to allow 5 per cent. Mr A. Ormsby : lu three years I*2oo has been written oil for depreciation. It makes our position look worse than it really is.

The report aud balance aheet was adopted on the motion of Messrs W. Douglas and Hoffmau. Iu reply to Mr Ormsby, the Chairman said that the prospec’s for the : forthcoming season were very bright. There would be more suppliers, consequently an increased supply of milk, they bad sold their output for lid, and would probably be able to give supplier* 7d. The retiring directors were re-elec* led, via., Mosers Wiley, Judd, Shaw, Douglas and J. G. Parkinson, whilst Mr J. K. Newton war re-elected audits. Ou the suggestion cf Mr A. Ormsby a vote of thanks was accorded the directors for the able manner in which they had managed the affairs of the company, after which the meeting adjourned.