TENTH ANNUAL MEETING

Kaipara and Waitemata Echo, 28 July 1921, Page 3

TENTH ANNUAL MEETING

The annual meeting of thY abov f e company was held in the Agricultural Hall on Thursday last, July 21st. Mr N., W. Riturner, chairman of directors, presided, and 5.1 directors and shareholders: were present. !

'.The miuutesj-of the ia<i unrnud meeting were read and confirmed.

REPORT AND BALANCE-SHEET,

The chairman, in moving the adoption of the report and bal-ance-sheet, briefly reviewed the year's work, which had shown marked ptogress in all directions. The following particulars were contained in the report :—

The directors have pleasure in recording a record year —in the number of suppliers, the quantity of butter1 made, and the price obtained for the output: 631 tons of butter were made, an increase over the previous year of 222 tons, or 54 percent. Butter has continued under Government control, the prices being: For June and July, 1920, 181s per cwt.; for August to March, 280s ; and for April and May, 1921, Is ll^d per lb, with an additional subsidy to be paid by the Government. The average price throughout the year has been £s 5.15 d per lb.

Payments for butter-fat have been:—Jui^e and July, 1920, Is 6d, with a further payment of 2%d on March 20,1921; August and Sept.: Is 6d, with an additional 6d paid on November 20, and a further payment of 6d on May 20 —total 2s 6d ; October and November: 2s, with an additional payment of 6d on May 20—total 2s 6d ; December to March:-2s 6d ; April and May, 1921: 2s. A further payment will be made later of 2%d per lb on all butterfat from Aug. Ist, 1920, to March 31st, 1921, and 3%d on the butterfat supplied in April and May, 1921. The totals for the year will then be:—June and July, 1920 : Is BMd (as paid last season); Aug. Ist, 1920, to March 31st, 1921: 2s B<Hsd for superfine grade, and 2s B%d for first srrade ; April and ,May, 1921: 2s 4^d for superfine, 2s 3%d for first grade.

The cream grading system was continued during the greater part of £he season, and a marked improvement was noted in the quality of the cream received. Of the cream graded 59.7% was superfine, 40%' first grade, and .3% second grade. This shows an increase of 7% superfine, and a decrease of .7% in second grade compared with the previous seaeon. It is regretted that there was a marked fallingoff in quality from the middle of February onward, attributed largely to feed flavours.

The total quantity of butter piade was 1,413,9231b5. Of this amount 1,221,6401b5, valued at £152,175 13s sd, was disposed of to the Government. A total of 135,711bs was sold in Zealand, and 57,1121bs remained in store on May 31. The total value of the output was £172,274 13s sd.

Under the heading "Deductions," the Bum of £143,528 11s Id was paid to the suppliers, with £15,952 17s 3d yet due. Factory charges amounted to £7759 8s Bd, marketing charges £2392 17s Id, and administrative expenses of the company £1270 19s 3d. The balance carried forward to next year's account is £578 6s. The company's properties were valued on May 31st last at £12,448 2s 7d, and the total assets at £29,882 10s 7d.

The following interesting comparisons, indicating the Tapid growth of the company, are made in the annual summary, i Number of suppliers : 1911-12, 112 ; 1920----*3 l, 382 ; quantity of butter-fat received (254,1381b5), 1,200,7891bs ; pounds of butter made (291,2951b), 1,413,9231bs ; pounds of butter made per 1001b fat (1141bs), 1181bs; average price received per pound butter (11.88 d), 29.15 d); average •cost of marking (.75d), 1.53 d ; average cost of marketing (1916-17, 2.1 d), .404 d ;■' average cost marketIng and making (.91d), 1.934 d.

A few questions were asked by shareholders, and satisfactorily answered by the chairman.

Mr J. S. McDonald seconded the adoption of the report" and balance-sheet, which was unanimously carried. ELECTION OF DIRECTORS. Two directors retiring by rotation —Messrs A.Hanson (Parakai) and J. McLean (Kaiwaka) —were re-elected, and Mr Roy Grant (Wellsford) was elected in place of Mr John Gillies, who did not seek re-election. Messrs Pinker & Boyd, public ■ jaecountants, were re-elected auditors for the ensuing 12 months .at a fee of 25 guineas. .CREAM GRADING AND TESTING. At the invitation of the chairtrnan, Mr G. Valentine, Dairy In-

structor, Department of Agriculture, gave an. address on cream grading, illustrating by charts the good results obtained to date by the grading system. The -weaker stated that through.-cream V-kding the North Auckland district had reached second place for the whole of New Zealand, North Taranaki having pride of place. The Kaipara D.P.C. were the second factory in North Auckland vo in^t.ii-.iitf-- thp: system. Tito

adores.-- proved most iiiCV-r9si.iiig, and at the conclusion, a hearty vote of thanks was accorded Mr Valentine. GRADING OF BUTTER. Mr Arnold McLeod moved, and Mr J. O. Vercoe seconded. "That this Company support the proposal of the Dairy Division to raise the minimum points for first, grade butter from 88 points to 90."—Carried. BONUS TO SECRETARY. Mr D. Lyons moved, and Mr Fosbroke seconded, " That the good services of the secretary (Mr W. J. F. Dear) be recognised by a gratuity of £100." Mr E. Andrews explained that the directors had already arranged a bonus to the staff* (amounting to 5 per cent on the year's wages), also £25 to the secretary. The secretary thanked the meeting for the motion, and on the grounds that the directors had 'already made the arrangement referred to by Mr Andrews, requested that,the motion might be withdrawn. '

Mr R. Hoe proposed an amendment, seconded by Mr Andrews, "Thatitbe'a recommendation to the directors to suitably recognise the exceptional services of the secretary."

The amendment- was carried, and becoming the motion was again put and carried;'

BONUS TO CHAIRMAN

Mr H. Hooper moved, and Mr R. Barnes seconded, That a bonus of. £150 be granted the chairman for good work done for the company.—Carried.

At aisubsequent meeting of directors Mr.'N.'W. Rimmer was unanimously elected chairman for the ensuing year, and congratulations were extended to him for the great success of his "past work for the company.