BLENHEIM DAIRY CO.

Marlborough Express, Volume LXXVI, Issue 242, 14 October 1942, Page 6

BLENHEIM DAIRY CO.

ANNUAL MEETING. MARLBOROUGH'S FINE WAR EFFORT.

The chairman of directors, Mr W, Kennington, presided at the annual meeting of shareholders of the Blenheim Co-op. Dairy Company yesterday. In moving the adoption of the annual report, the chairman said that overseas and on the home front

New Zealanders were playing their full part. Dairy farmers were playing an important part in the war effort and there were a number of lnstances where women and children m Marlborough were doing all the work on such farms. Thanks to the Navy and the Merchant Marine produce was going forward steadfly, and although the change-over to cheese was drawing supplies away and so increasing costs, and in addition considerable quantities of milk were being used for the Armed Forces, butter production was well maintained and costs had not gone up unduly. The company had been compensated to the extent of £927 last season— this going to pay the purchase money of the Marlborough Dairy Co. There should be similar compensation this year. The total cost of that purchase, the chairman, continued, was £1500 for goodwill and plant at valuation, the full amount being estimated at £5000, paid for at £800 per annum. The plant had realised £3210. The cbange to cheese had delayed the full benefit of the amalgamation, but it would be very apparent in the coming season. The directors' report, which was adopted, was as follows: — The output for the season was 293 tons, a decrease of 43 tons compared with the previous year. This decrease was partly due to further suppliers being changed to cheese and also to the demand for milk for Army supply which was drawn from cream suppliers to this factory. This decrease has resulted in an increase in costs to f.o.b., being ,161d more than last season.

In accordance with the Dairy Industry Accounts Regulations, 1939., we have to report as follows: — (a) In respect of the previous year, 1940-41, the estimated season's average payout butter-fat (all grades), which was quoted in our last year's report, was 14.72d, which was the' amount actually paid out. ' (b) In respect of the eurrent year — The unsold patted butter at the factory has been valued at ls 31d per lb, no bulk butter fof export being on hand or/held in store.

Advances to suppliers for the season were on the basis of ls Id, for finest grade, the average advance for all grades being 12.70d. The balance in the Appropriation Account for the year is £5673. Of this amount it is proposed to pSy on August 20 one penny (ld) per lb butterfat over the season, and one half penny (ld) on September 20. This will leave a balance which will make) a final payment available later in the season. The forthcoming season looks brighter with the change back to butter and your directors look forward to an output of approximately 500 tons, with considerably reduced costs to f.o.b. Your directors recommend that a dividend of 21 per cent. be paid to shareholders on paid up capital, involving an amount of £86 16s. The following directors retire by rotation and are eligible for reelection without nomination: Messrs Kennington and Pattie. Nominations for directors close with the secretary not later than 10.30 a.m. on October 13. Nomination forms may be had on application to the secretary and, in the event of a ballot, a voting paper will be issued to each shareholder after the meeting. Scrutineers and the date of ballot will be arranged at the meeting. You will be required to appoint an auditor and fix his remuneratjon for the ensuing year. Messrs J. S. Thompson and Son again offer their services. Mr O. A. Webb has also been

nominated. Our thanks ' are due to the suppliers and staff for their continued interest and loyal support. Mr A. A. Macnab congratulated the chairman and the directors on the very fine showing they had made. It was a great war effort. He expressed also his appreeiation of the way dairy farmers were carrying 011 and at the same time supporting the Home Guard. They worked long hours and yet gave their Sundays to Home Guard duties. On his motion a vote of thanks anft congratulation to the directors was carried by acclamation. The retiring directors, Messrs W. Kennington and F. W. Pattie, were re-elected, and Messrs J. S. Thompson and Son were re-elected auditors. A vote of thanks to the press and to the chairman closed the meeting. V