FARM NOTES.

Putaruru Press, Volume VI, Issue 253, 6 September 1928, Page 6

FARM NOTES.

DAIRY SUPPLIERS’ MEETING.

SUNNY PARK FACTORY. Financial Position Improved. The Sunny Co-operative' Dairy Company, Ltd., which lias twelve years in existence, has had its u ? s and downs, and gone through the whole gamut of experiences usual to - a young company starting from a small beginning and growing to large proportions. The review of -the chairman, Mr. J. Bell, presented to the twelfth annual meeting, held at Te Poi on Thursday, was distinctly hopeful in specific directions, despite the drought of last summer. For. example, the further reduction of overdraft, and the reduction of shares deductions, afforded statistical prpof of

healthy progress. j, l In his review the chairman said there had been a decrease of 129; tons of cheese, and an increase of 9 tons of butter made. The total of butterfat also showed a decrease, largely accounted for by the dry spell. ' \ The autumn rains, together with a liberal use of manures, promoted a good growth for winter. Most of the cheese was sold f.0.b., and although consignment may have paid better, Is 7d was a payable proposition. Whey butter realised a good price in London. The grade had shown improvement, though the proportion of finest was not as high as could be desired. ! A number of shares were resumed at

50 per cent of the original cost. Sales of manures had been conducted with the suppliers to their benefit. The company had again arranged, in conjunction with the Hinuera, Morrinsville and Tatua companies, for th«i services of the farm dairy instruct who had been of considerable assistance. The directors had also decided to wax the cheese to reduce the shrinkage, which was as much as li t 9 2 per cent on the voyage.

i The financial position was steadily improving, it Should not b@ long before the company would be able to dispense with bank overdraft to the extent relied upon in the past. It had been decided to build up fi reserve fund, to be called a building reserve, which might be necessary for additions to cope with increased supply. Whey butter had averaged Is 2.29 d per lb.

<■ The directors had also decided to reduce the shares deduction from id to id. In conclusion, the chairman thanked the manager (Mr. N. H. Madsen) and staff for the excellent services rendered during the season. No trouble had been too much for them, and he was pleased to say they were coming back for the new season. The percentages of grades were as follows: Finest, 9.024 per cent; first grade, 73 per cent; second grade 17 per cent. The balance-sheet as presented by the chairman, and the auditor’s report, read by the secretary, Mr. T. J. Ryan, were adopted. The general statistics were published in a previous issue.

The building reserve item on the balance-sheet was £IOO, and the balance to surplus account in the cheese profit and loss account was £1594 14s 4d, and on the butter £1306 4s 2d. The overrun was 19.26 per cent. The chairman said the plant had been considerably improved, and was better to-day than ever. Mr. Stopford moved that all sup-plier-shareholders be given a full dividend in future.—Carried. Mr. Stopford commented that the payment to the Control Board was, in his opinion, sheer waste. Ke was heartily in support of the building fund reserve. On the motion of Mr. Stopford, it was decided to put by £IOO each year as a building fund. Mr. A. M. A. Wright pointed out

the B«e@ssivi' for such a reserve, for j renewals and replacements would un- | deubtedly be required. The recocr" endation that a dividend of 5 per cent, representing Id per lb butterfat, be paid, was adopted, on the motion of Mr. A. M. A. Wright. Election of Directors. The old directorate was; Messrs. J. Bell (chairman), C. A. Stopford, C. H. Dearlove, J. E. Davidson, H. G. Mudford, J. G. Goodwin and J. M. Abbott. The retiring directors were Messrs. J. M. Abbott, J. E. Davidson and H. G. Mudford, and Mr. Davidson did not stand for re-election. The ballot resulted as follows: J. Kerr, 96; J. Hill, 86; H. G. Mudford, 71; J. M. Abbott, 37; the first three being elected. The chairman moved a vote of thanks to Messrs. Davidson and Abbott for their services as directors.— Carried by acclamation. Messrs. Sanson and O’Meara were re-appointed auditors. Butter and Cheese. The chairman explained that seve-

ral of the butter suppliers were coming over to cheese, and the directors proposed to come to an arrangement with the remaining butter suppliers to manufacture butter for them at a price, say, 2id per lb. When the above price was compared with that of other concerns, the 7-mile cartage factor to the railway had to be pointed out once more. Mr. Stopford thought the price very satisfactory. Mr. M idsen explained the procedure that would be followed.

Mr. Stopford commented that if more finest cowld be manufactured they would get id per lb higher price. Mr. Williamson was of the opinion that under the new scheme there would he still less finest made. Mr, Wright moved that the scheme be adopted.—Carried. Preparing for Increase,

The chairman said the direot6rs had come to the conclusion that if there Was an amount of milk up to 200 gallons, irtorh than could be handled for eKeeffe, that it be separated, but that if the quantity was considerably more that a lean-td be put up and another vat installed. The meeting decided to transfer an amount of £22 15s Id, stock loan account, to the building reserve. Mr. Wright moved a vote of thanks to the factory staff and secretary, who had done an excellent year’s work. (Applause). Mr. Madsen returned thanks, and urged suppliers to keep up the quality, which was very necessary for the securing of a high-grade article. In reply to Mr. A. J. Davies, the chairman said the directors had appointed agents, but had not yet sold any of the supply forward. They were quite prepared to follow either f.o.b. or consignment, as the suppliers l might wish. Mr. Williamson suggested sending on consignment with a reserve.

Mr. Bell replied that the suggestion opened up a very wide question. He instanced cases where undesirable consequences had resulted to other companies.

Mr. Stopford moved that the company retain ita present policy. Mr. Wright considered that if the company could pay Is 4d on consignment it should sell by that method. Mr. E. T. Wise thought the matter should be left in the hands of the directors.

The chairman pointed out that once the price at Home got above the purchasing power of the people there would be a decline. Mr. Mudford thought the company would be doing all right to consign up to December. Mr. Stopford’s motion was carried. The company’s present policy is to sell f.0.b., or Consignment, according to the directors’ reading of the market position. At the subsequent meeting of directors Mr. Bell was unanimously reappointed chairman, on the motion of Mr. Stopford.