Levin Dairy Company.

Levin Daily Chronicle, 1 August 1918, Page 3

Levin Dairy Company.

✓ The nineteenth annual meeting of the Levin Co operative Dairy Company was held in the Century Hall yesterday. About 30 share holders were present and the Chairman of Directors, Mr Jas. I'rouse, presided. The annual report said the past season had been successful and the suppliers are to he congratulated on the prices they l?«,ve* received for their butter fat. Although the shipping question Tlad been acute, owing to the fact that "opportunity was taken of the local market only a small quantity of butter was left in store at the close'Of > the season and the disposal of this quantity was easily arranged for. After providing for depreciation and making reasonable allowance for expenditure that will be neces sary in the near future, provision lias been made for the payment of a dividend of G per cent on all paid up share capital. The Com pany met with gr«it success at the various shows, having, besides other prizes, won the Champion ship at the Palmerston Show. There was no discussion on the report and balance sh/et and no questions. Mr Prouse referred to the splendid reserves the Company possessed in its Bank deposit, cur rent account and inscribed stock, and its 50 acre farm, probably worth JBBO per acre. These things gave splendid stability to the Com pany. There were some people, not suppliers, who said they were paying out too mucli. They had paid out not less than Is Gd and so'inething more, which might be a puzzle when they were only getting Is sd. But they bad been able to do it and it was real co operation. The Chairman read a letter from Mr A. C. McDonald, who was unable to be present las the result of his recent accident. He asked the Chairman to move that a £20 bonus be voted to Mr Smel lie and £10 to eacb of .his staff for their good work. In moving tbe motion pro forma the Chairman said he was quite agreeable to pay a bonus as Mr Smellie and his staff bad done splendid work.. But a letter of tbis sort should come before tbe Directors and not before a meet ing of shareholders. He objected as a matter of principle to the me tli'od because it was an implication tliat the Directors were not doing their duty. Mr S. W- Broadbelt said that they all recognised Sir Smellie's work. He suggested that the Directors be recommended to pav a bonus of 5 per cent on salaries in addition to the war bonus they were already paying. Mr W. Stewart considered they should leave the amount of the bonus to the Directors in whom they had every confidence. He moved to this effect and Mr Lang seconded the motion which was

carried; On the motion of Messrs Avery and Perry, the report and balance sheet were adopted. The Chairtnan referred to tlie failure of the effort to obtain an equalisation of values last season as between the exporters of butter Mid the suppliers of the local mar ket, who were restricted in the price they got. He said the Go vermnent was apparently quite willing to ,have an equalisation scheme, ami a* definite and cleai resolution had been handed to the Prime Minister providing that the difference between the price paid to tlie factories for local butter and the f.o.b. export values to be made up to those factories selling on the local market, and that the method of from, where and how the difference should be obtained be determined By the. Government. It was understood that this would form part of the agreement, but to their surprise the hrrangeiment ultimnteelv come to was that 11 any profit" resulted from the sale of the butter by the Imperial Go vernment, a sum representing 50 per cent of the net profit as deter mined by that Government will be made available-to- the New Zea land Government for distribution pro rata to the sellers in accord ance with the quantities of butter purchased and shipped. Thus there was no provision for justice being done to the suppliers of the local market. This was a curious mis take, but it was no reason for the perpetuation of. the injustice, and this year they were to have an equalisation scheme as between the two sections of producers. Mr W. Stewart moved a hearty vote of thanks to the Directors and this was seconded by Mr Home and carried. Messrs C. E Dempsy, and Gold and Arcus were re elected auditors on the motion of Mr Rolston who remarked on the assistance and. advice they had given the Com panv. c . Messrs R. A. Rolston and >S. A. Broadbelt, the retiring Directors, were reelected unopposed. As Chairman, Mr Prouse said lie was proud to move a very hearty vote,of (hank« to Mi' Sniellie and the isiali ler thou excellent services. Mr Rolston seconded the motion which was carried. Tlie meeting tlieu :ul .'•turned with a vote of thanks to the chair.