TUAKAU.

Pukekohe & Waiuku Times, Volume 5, Issue 186, 27 June 1916, Page 1

TUAKAU.

DAIRY SUPPLIERS' MEETING ADDRESS BY MR GOODFELLOW. Mr Wm. Goodfellow, Managing Director of the Waikato Co-opera-tive Dairy Co., Ltd., addrossed last Friday evening, in the Public Hall one of the largest meetings of dairy farmers ever held in tbo district. MiDynes Fulton was elected to the chair, aud formally introduced the speaker. Mr Goodfellow outlined the policy and growth of the Company since its inception seven years ago, pointing out that the total turnover for the

first year amounted to £15,000, an amount equal in value to two weeks' output of butter during December of last season. The total turnover for

the past year, he said, would amount to approximately a quarter of a million sterling and the butter manufactured would exceed 1000 tons. In the first instance, the Company had been a proprietary one, but at the conclusion of the first year's operations it had been made cooperative, and suppliers were requested to take up shares. However, owing to the bitter opposition and the wholesale condemnation of home separation by the creamery advocates, only a few shares were taken up, with the result that the original shareholders had to hud the extra capital required to cope with the expansion of the business. It was not until some three years ago that the large majority of the sup-

pliers became shareholders in the Company. A considerable number of the original shares had been repurchased, and it was hoped that the time was not far distant when the whole of the shares would be held by suppliers only. A report had been freely circulated that the promoters and directors had been makiug huge profits out of the Company. This was a deliberate falsehood, and he (the speaker) was prepared to produce an auditor's certitiiicate to show that every share held in the Company had been paid for at face value, and, further, that not a penny pieca of profit other than interest on capital had been received.

Dealing with the <]U< stion of |lip amalgamation of the dairy inteie-f.s of the South Auckland Province, Mr Goodfellow mentioned that thy scheme in the fit at instance had been introduced by Mr A. C. Milne, a director of the Waikato Company, and, farther, that the proyosal had received the unanimous support of the directorate. Unfortunately, tie Thames Valley and'Te Aroha inter-

ests decided to withdraw: thereforo the scheme had to be abandoned. Any minor amalgamation, said Mr Goodfellow, would not be acceptable to the Waikato Company's suppliers. (Applause).

Mr Goodfellow went ou to statu that owing to tli9 rapid growth of the business it had been foilnd necess iry to make oxteusive alterations at the Frankton Factory, which, when complete, would enable the Company to increase its output at that branch by fifty per ceuc. The additional machinery installed would include an improved teak combined churn, capable of making, approximately, one and a-hali tons of butter at a churning. This would be the largest churn ever imported into New Zealand. Continuing, Mr Goodfellow said the directors had further decided to erect a large, new and up-to-date butter factory at Tuakau adjoining the railway station. The new factory would be completed in about twelve months time, (Applause). The speaker further dealt in detail with the work of the Company during the past twelve month*, as pre- \ iously reported in our coiumns.' \ In answer to a question from Mr Dynes Fulton regarding "Glaxo," Mr Goodfellow informed those present that it was his opinion that the dried milk proposition, although attractive at iirst sight, upon investigation proved to be a poor one. Whole milk would bo required to bo cooled and delivered twice a day with no by-products returnable. The guarantee was for a minimum price for ten yoars of Is od, while maximum pricos were to be lid over butter or equal to cheese returns per lb butter-fat, It was quite evident that after a reasonable allowanca had been made for the value of byproducts, namely, lid per lb butterfat for calves, Id per lb butter-fat for pigs and Id for extra cartage, that the proposition was quite useless. On a home separation basis Glaxo returns would be 2d under butter and 3d under cheese, with a minimum guarantee equivalent to 1 Id per lb butter-fat. After other questions had been satisfactorily answered, the meeting concluded with a hearty vote of thanks to Mr Goodfellow and the Directors of the Waikato Co-opera-tive Dairy Company, which was unanimously carried with enthusiasm. |