Kuku Dairy Company

Levin Daily Chronicle, 30 July 1918, Page 3

Kuku Dairy Company

The annual meeting of the shareholders of the Kuku Dairy Company was held at the factory, Ohau, yesterday morning. The Chairman of Directors', Mr J. D. Brown, presided and there was a full attendance of .shareholders..

Th.e annual report congratulated the share holders upon the very satisfactory results which were dis closed in the balance sheet. Milk lweired for (the whole season yielded 201,510.6 lbs of butter fat and 5:38,219 lbs of cheese, for which has been paid to suppliers £12,753 13s Bd. The yield for the whole season was 2.67 and the average test for the season was 3.8. After writing oif £332 14s 9d on buildings, machinery and preliminary expenses, the profit and loss account showed a credit balance of £6625 17s lOd. The Directors recommended that £5669 4s 2d be declared a bonus on butterfat delivered for the whole season at the rate of 7d per lb, leaving £279 10s lOd to be added to the £677 3s lOd set aside last year, making the total sum now set aside £956 14s Bd. In moving the adoption of tie report and balance' sheet, the Cha,ir)man sa.id the prospect- for cheese was very hopeful and there was every prospect of a good sea son ahead. The Company had paid out. Is 3d for butter fat dur ing the season and there would be a bonus of 7d to add to that male ing the payment Is lOd for the season, a price that compared very favourably with older and bigger companies in Taranaki. He re ferred to the prominence that was being given to dried milk, andexpressed the opinion that when everything was considered, especi ally the cost of putting in the new machinery necessary, cheese fac torieß would be well advised to stick to cheese manufacture. The report and balance sheet were adopted. The retiring Directors, Messrs. R. L. Horn and R. L. Greig, were reelected unopposed, and they thanked the shareholders for their continued confidence, which they took as an indication of satisiac lion with the present boards management. . , Considerable discussion.- took place Over the position of suppliers" who sent their milk to Wellington in the winter and to the cheese factory in the flush of the season, in regard to the distribution, of profits. The Seore tary> ;Mr Harlcness, pointed out that, by paying out. the profits at the end of the season, all high running expenses in the winter were borne eq\ially by all sup pliers, wliicli was in the true spirit of cooperation. The Co operative store was also discussed and the feeling was gen eral tliat it was fulfilling ifcs pur pose. The Chairman congratulated the