PUKETURUA FACTORY.

Putaruru Press, Volume IV, Issue 120, 11 February 1926, Page 5

PUKETURUA FACTORY.

ANNUAL MEETING. Heavy Loss Shown. The annual meeting of shareholders in the Puketurua cheese factory, which has been closed for some time now, was held on Friday last, when Mr. R. A. Bent presided over a poor attendance. BALANCE - SHEET.

The secretary (Mr. A. H. Dukeson, junr.), after reading the balance-sheet, which showed a loss of £4ll, explained that this was chiefly attributable to the fact that the factory had been shut down during the season. Other contributory causes were the bonus to the manager, as per agreement, and depreciation. AUDITOR’S REPORT. The auditor pointed out that the share register did not balance with thfe books of accounts, there being a difference of £3O 17s 9d. This was mainly due to the fact that deductions for calls on shares had been made where, no shares had been allotted. The balance appeared to be calls collected and not credited, and this dated back to the year 1921. The secretary explained that these matters related to the period before he took over the secretaryship. The balance-sheet and report were adopted as read. CHAIRMAN’S HONORARIUM.

On the motion of Messrs. Barnett and Pearse, it was decided that an honorarium of £SO be granted to the chairman, towards out-of-pocket expenses over a period of seven years.