Dairy Factory.

Manawatu Standard, Volume IX, Issue 58, 10 February 1885, Page 2

Dairy Factory.

The adjourned annual general meeting? of the above company was heid yesterday m Mr Linton's Auction Booms. % Directors: Akers, Ferguson, Walker, I Mutn-o, and H. Coin's, were present, besides ;a good many of the shareholders. Mr J. H. Hankins was voted to the chair, and having opened Jthe meeting with a few general remarks, was followed by Mr Ferguson rising to address the shareholders. Mr Ferguson said that at the last meeting there had been a good deal of misunderstanding, misapprehension, and mistatements made; those who were present at that meeting would remember that a good deal of blame had boen attached to the directors' action m the* past . unjustly laid at the door of some. The whole qf the dissatisfaction appeared to have arisen out of the fact of the Company having promoted, the mauufaclure of butter, and n.)t cheese. It had boon freely stated m both town and country, that the directory did pretty well whiat they liked, without consulting the wishes of the Karere shareholders ; live of the. directors were sottiers, and two only townsmen, and if it had been the wish of any to use coercion ■it certainly Was not the latter. Surely the Karere shareholders do not think so little of their representative directors as to imagine that two town men- could turn them round as it were upon; their | fingers. At the very commencement there, , was t a consultation as to this matter, and with only one exception it had been decided as most expedient to start iwith butter making. The speaker then gave a, general review of the resolutions passed from time to time by . the directory, stating the names of the movers ! and seconders of such motions, foremost among them being the name* of the country directors. They had been blamed for receiving milk of an inferior quality ; all he could say to this was that the inferior article had been supplied from the quarter from whence the complaint came, and that after a notice had been posted up by the manager referring to the quality required at the factory, the same had increase I 25 per cent. Tlio milk sellers who complained most were most dilatory m paying their calls. They wanted to sell their milk and get paid for it and then withhold payment of calls due as long as they could. ;He might mention re this matter of cheese versus butter, that since the last meeting he had had an interview with a gentlemen colohially experienced m dairy factories, named Mr Elwin, a thorough shrewd man of business ; he liad gone into the affairs' of their factory with this gentleman pretty considerably, and after some time asked him candidly, which he considered moat advisable, butter or cheese, and he replied at once " butter;" be had promised to give his reasons to him m writing, and by the next meeting he hoped to be m a position to place them before the shareholders. He had also said that when feasible it was most advisable to have the shareholders milk contributors. But to return, he (Mr Ferguson) had not expected that the shareholders would have come to the last meeting and express themselves as they had. The directors at that meeting had been met with hostility and treated with gross abuse. Re the overdraft it was a fact that certain of the directory, had individually advanced large airidiints, instead of pressing the shareholders for their calls ; but it was not to be expected that after, receiving the : abuse they had that this would continue. The .Wanganui factory had an overdraft of £'1100, and yet they Were satisfied with "the progress they were making. He would conclude by stating 'that the directors had m the past done their. best to carry out the -wishes of the-sharelioldArß-in the fairest way; > Mr Monrad, although opposed at the start to butter making, afterwards worked 83 hard as anyone for its successful manufacture. He (Mr Ferguson) bad- frequently heard it stated that interested parties had been doing their best to smash the Company, m order to make a purchase advantageously; and he would ask the shareholders if these persons arguments against the past management was worth while listening to. Mr Monrad had had a letter from the Waikato people, requesting information, and stating they had decided 1 : only to manufacture butter. He (Mr Ferguson) would advise the shareholders to weigh the matter well and consider! both; sides ot the question before conclud- i ing. Mr E. Collis was glad. to hear the statements made by the .last speaker,, and the very straightforward manner' in which the particulars were given ; he, however, was sorry the Company had started with butter, and would Kke ; to see it turned into, cheese manufacture. Mr Monrad here read the following; resolutions passed at a meeting of directors held that day : — ! Resolved — -That the directors report, at tlio general meeting, that m. order tocarry on the business of the Company the following conditions are necessary. %. That the pyiee of milk be reduced to 3d per gallon, showing 10 per cent, of cream or 350 per cent of butter fat.. 2. That ilio" milk be ! paid tor by .three month's bills, dating from the first of each month. 3. That 200 additional shares be subscribed for.. ; ■. ' It, at the end of the season, the majority M the'shareholders deaire.tbat cheese be manufactured, a general meeting will be called to consider the matter. ! Mr Sly moved the adoption of the report, seconded by Mr Row. The chairman then declared the report open for discussion. " A shareholder thought that if 10 per cent of cream was required the seller had a right to advance his price proportionately. ' Mr Monrad,- in replying, sta'el that milk for the factory was not considered genuine without it had 10 percent ok cream. " ' ' ' ; ; Mr : ; Buick was in v forme,d . • that good milk (such as~" he ' supplied) contained 15 to 18 per cent, of ; cream,- For further interrupting a speaker he was quickly silenced by the chairman (for the time being only). Mr Ferguson mentioned that Mr Elwin had informed h™ that 10 per cent, was too little. Mr Akers: The manager reports at the present time little above 8 per cent. 1 Mr E. Collis : What is to be done with the milk that is a good pure article and yet not having the per centage of cream required. Mr Monrad replied that to frame a reply to this question was not easy, but that he liad no doubt the directors after consideration would do what' was fair. (To •be Continued.)