TOKOMARU DAIRY CO.

Manawatu Standard, Volume LVII, Issue 212, 7 August 1937, Page 2

TOKOMARU DAIRY CO.

ANNUAL MEETING. A SUCCESSFUL SEASON. The annual meeting of shareholders of the Tokomaru Co-operative Dairy Co., Ltd., was held yesterday afternoon, Mr J. R. Whyte presiding. The report (already published) and statement of accounts were read, and in moving their adoption the chairman congratulated the suppliers on a successful year.

“Tho season just ended,” he said, “from a dairyman’s point of view, was ono of the best experienced for many years, and this is reflected in the output which has increased from 305 tons to 354 tons. This year is the first of the guaranteed price scheme, under which prices of our exported produce were fixed by the State. The basic guaranteed price for cheese grading 92 to 92J was 6 13-Uxl, with differential payments according to quality. The basic price would have been regarded as a satisfactory one had production costs on the farm and in the factory remained at the level of the previous year, but under the new award our wages have increased from £BSO to £l247—equal to a rise of 45 per cent. Cheese crates a.re 33 per cent, higher, whilst ail requisites used for the manufacture of chec6e have advanced in price.” It was not his intention, Mr Whyte added, to deal with the various statistics, as under the new dairy industry regulations each shareholder was supplied with a copy, but there was one item to >which ho would like to briefly refer. The fuel account showed an expenditure of £177, which was £3 higher than last year, and when they had taken into consideration the fact that the cost per ton of coal was higher and thev had been enabled to manufacture an additional 49 tons of cheese, the result must be very gratifying to suppliers. The cost per ton of cheese was 10s, which would compare more than favourably with any cheese company working under similar conditions. They would note that there was the sum of £1837 for distribution, and the directors recommended that a further payment of Id per lb be made on all butterfat used for chec6e-making. and that a dividend of 5 per cent, be paid on the share capital. “Th° average pavment,” continued Mr Whyte, “is a little less than was anticipated at the last meeting, but if the Government honour their promise to cheese companies a final payment will be made later. W e are assured that the differential pr : oe between butter and cheese navmcnts for the current year will be 2d per lb butterfat.”

The chairman took the opportunity to thank the manager and his assistants for the care and attention given to their duties. The new wages award, with its restrictions and shorter hours, had caused the manager a good deal of concern, but by shouldering the greater portion of the- burden he had been enabled to carry on without recourse to any overtime being paid. The chairman also thanked the secretary and his staff for the capable manner in which the clerical 'work has been carried out, and his co-directors for their hearty co-nneration during the past season. The motion was seconded by Mr Mabin and carried. The recommendations of the directors with reference to the distribution of the surplus, funds were endorsed. Messrs J. It. Whyte. L. Wilton and A. N. Kelly were re-elected to the directorate. Mr W. E. Bendall was re-elected auditor. The directors’ fees were fixed at 12s 6d per meeting, with an honorarium to the chairman of £35.