HINUERA DAIRY COMPANY.

Putaruru Press, Volume VII, Issue 297, 18 July 1929, Page 6

HINUERA DAIRY COMPANY.

ANNUAL MEETING. The popularity of the annual ' general meeting of the Hinuera j Dairy Company shows no signs of waning, and on Thursday there was a record attendance for the seventh meeting. The directors’ report gave ample evidence of the success of the district, for the factory is to be enlarged to twice its present size and additions and alterations made to the plant and machinery with a view to coping with the greatly-increased supply and keeping everything up to date. The final payout announced is the second highest in the company’s career. Taken all round this progressive company is on a most solid and successful' basis. Mr. J. E. West, chairman of directors, presided. Chairman’s Review. In his review of the past season’s operations, Mr. West stated it was the most successful in the company’s career. The payment of Is 6.65 d per lb was the second highest ever made. The most pleasing improvement was the big reduction in manufacturing costs. An outside critic, in dealing with the company’s costs, had mentioned that these were equal to the average of 16 factories analysed. This year there were only two factories which had lower costs. With a view to further reducing the cost of manufacturing the directors proposed to instal separate motors to each unit and also to obtain a new six ton freezing plant. The new machine, together with the old one, would enable them to deal with three times the present output. The total additions to plant, including a new vat and sanitary improvements, would cost £I4OO, and to house these another gable the same size as the present building would be erected, at a cost of £1450. He was pleased to state that they could carry out the work without going to the bank. With a view to overcoming the difficulty of water supply a bore had ’ eon put down on Mr. Hawke’s hill. A fine supply had been obtained, but it was not quite sufficient, and so a pipe line would be laid to the Man-T-wara creek for secondary supplies for washing up, etc., and a new concrete tank installed. The total cost of the whole additions would be in the vicinity of £3OOO. During the year the system of electing directors had been changed to the ward system. Messrs. Hopkins and Pond, retiring directors, had rendered yeoman service to the company. (Applause). A handsome rose bowl had been donated by Mr. F. H. Leonard for open competition amongst suppliers for the best cream forwarded during the season, and this had been won by Mr. W. C. Pond, HinueTa Valley, the graders to the Department of Agriculture being the adjudicators. Practically the whole of last year’s output was sold f.0.b.. but offers for the coming year were very scarce. A- few were coming from Canada, but practically none from London. He had much pleasure In congratulating both the clerical and manufacturing staff on their work during the year, and it was pleasing to note that two members were taking advantage of the dairying course at the Massey College during the winter months. Almost the whole of the shares were now allotted, and the new directors would have to consider whether the capital of the company would be raised, dry shares resumed, or other means adopted. The manager had effected a saving during the year in that though 150 tons more butter had been made there had been a saving in fuel charges of £SO to £6O, and a reduction of £4O to £SO in wages. He had also won the most meritorious prize at the Auckland Winter Show, a box of butter made in April winning the prize for best grade. (Applause). The report was then adopted on the motion of Messrs. West and Griffiths.

Replying to questions from Mr. Oates, it was stated that last year some cream runs had to be subsidised to cater for new suppliers. This season new tenders had been called and the cartage charges were now almost normai. The differences in the Control Board levy was due to the fact that exports to Honolulu were independent of the board, and custom charges having to be paid in cash. The item appeared under petty cash heading. Mr. T. J. Ryan was re-elected auditor at the same remuneration as last year. Directors’ Remuneration. Mr. Gould moved that the remuneration of the directors remain as last with a £SO increase to the chairman. Messrs. Griffiths and Gould moved an amendment that the chairman receive £BO, the vice-chairman £25, and the directors £2O each.

The amendment was carried unanl- i mously. Resuming after lunch the report and balance-sheet authorising the payments of interest and bonus was approved, on the motion of Messrs. Cotter and Vosper. A notice of motion in the name of Mr. Griffiths, that the articles of association be amended, was held by the chairman to be out of order because no specific amendment was stated. Mr. Cotter thought that the best method was for a committee to be set up to go into the articles, and bring down recommendations. He agreed with the chairman’s ruling. Earthquake Fund. The meeting decided to vote £SO to the relief of distress caused by the recent earthquake. Towards the close the meeting became somewhat lively, and some blunt cross-talk was indulged in, though good humour prevailed throughout. Votes of thanks were accorded the staff and board of directors, with an odd shareholder or two still desirous of moving further motions.

The chairman closed the meeting: with a request to shareholders to come forward and coxtect theirbonuses for the year.