KAIPARA DAIRY FACTORY CO., LTD.

Kaipara and Waitemata Echo, 2 August 1917, Page 2

KAIPARA DAIRY FACTORY CO., LTD.

THE ANNUAL MEETING OF SHAREHOLDERS.

THE annual meeting of shareholders of the above Company was held in the Agricultural Hall,.Helensville, yesterday afternoon, -when there were present about 120 shareholders. Mr C. Thomson (Chairman of Directors) occupied the chair. The following is a copy of the Director's report, which had previously been circulated and which the Chairman Jsaid was unnecessary to read again:— REPORT Your directors hare pleasure in presenting herewith the sixth annual report and balance Bheet, and congratulate^ the shareholders on the result of the s*;Mipn's operations. -/^^tttkd^ After writing off the sum of*3S^Bi-45--for depreciation, there remains '^"'nett | profit of £18,615 15s 9d, which together with the amount brought forward from j the previous year, £448 4s 9d, makes a total of £19,064 0s 6d to the credit of profit and loss account. Owing to the shipping difficulty, we still have a large quantity of butter in the freezing store. As soon as practicable, your directors propose to make a progress payment of 3d per lb for buttertat delivered during April and May. Following this, as soon as the butter is disposed of, they recommend a further payment be made on supplies for the period Ist September 1916, to 31st May, 1917, inclusive. Should the 'present market values continue, the directors anticipate this payment will equal between Is 7d and Is 8d for the season, exclusive of the butterfat levy. This will be after the payment of. the usual 5 per cent dividend amount" ing to £139 18s Id. The quantity, of butter made was 457ton§ 18cwt 3qrs 191bs, which is an increase on the previous year of 56tons Ocwt lqrs lib. The price advanced for butterfat during the shipping season was Is 3d. The retiring directors are Messrs E. Andrews, Jas. Drinnan, G. Ogle, and J. A. Sidwell, who offer themselves for re-election. It will be necessary to appoint an auditor and fix his remuneration. The Chairman made a statement regarding the progress of the company during the year and moved the adoption of the report. This was seconded by Mr Gubb and carried. . Then followed a debate on the report and balance-sheet, the report of which, owing to pressure of space, is held over till next issue. ELECTION OF FOUR DIRECTORS The election of four directors was then proceeded with, Messrs J. Carter and N. Wallace acting as scrutineers. The result of the voting was as follows ; OGLE, George 353 DRINNAN, James 336 ANDREWS, E. ... ... . 316 SIDWELL, J. A 290 CA.MPBELL, W 278 GUBB, Thomas 154 BUCKTON, R. W. 134 The four first-named were duly elected and the personnel of the directorate remains the same as last year. Messrs Sidwell, Drinnan and Ogle each in turn thanked the shareholders for ithe honour conferred by them and trusted their future actions as directors would be satisfactory to all concerned. Mr Andrews, being absent, the Chairman returned thanks on his behalf. ELECTION OF AUDITOR. The Chairman stated that it was necessary Uo elect an auditor, and read an application from Mr E. H. Wright, offering to make a quarterly and yearly audit for the sum of 25 guineas. Some of the shareholders present thought the fee was rather excessive, while another suggested calling tendXrs for the billet. .The Chairman stated that the latter suggestion was unworkable, as the business had to be decided at this meeting. It was finally resolved that Mr Wright be appointed auditor for the ensuing year.