WAIKATO CO-OP. DAIRY COMPANY LTD.

Pukekohe & Waiuku Times, Volume 6, Issue 282, 8 June 1917, Page 4

WAIKATO CO-OP. DAIRY COMPANY LTD.

.». —_—. Speech by Mr Goodfellow Speaking at the annual meeting on Tuesday of last week at Okoroire of the local suppliers of the Waikato Co-op. Dairy Coy., Ltd., Mr W. Goodfellow (Managing Director) stated that the past season had instituted another record for the Company not only as regards output hut in the matter of payments. The turnover for the voar had increased from £231,000 "to something like £350,000, despite tho fact that numerous cheese factories had been erected throughout the Waikato and Thames Valley, and further that many suppliers had sold up and gone to the front. Owing to the continued rapid growth of the concerr, the Company's Directors had recently let a contract foi the erection of a large concrete butter factory at Tuakau, capable of manufacturing 1000 tons of butter. This new factory would be open to receive supplies in September next. Mr Goodfellow went on to say that a great number of the Company's employees had enlisted. The Directors realised their responsibilities and after careful consideration had agreed to ensure every married man enlisting for £soo—the policy to be kept fully paid up by the Company until the employees returned. The speaker hoped the suppliers would approve of the action of the Directors in the matter.

When dealing with the sales, Mr Goodfellow stated that over £40,000 of the Company's butter was sold annually in the Waikato and in Auckland City. This year the whole of the balance of output had been or would probably be shipped to London. The Company had a large quantity in cold store but it was anticipated that a considerable portion of this would be shipped before September next. In any case there was ample cold storage reserved for dairy produce and the suppliers need have no cause for undue anxiety. The speaker expressed strong disapproval of the statements recently published in the " Herald." Such reports, said Mr Goodfellow, were misleading and calculated to do a great deal of harm, and if persisted in, would cause production to diminish. Many farmers were already considering the advisability of selling their cows. The total amount of butter in New Zealand to-day was 6000 tons and after deducting the winter consumption, etc, there would not be more than 4000 to 5000 tons available for export to London, about half a ship load all told. It was unthinkable that the authorities would fail to arrange for the required tonnage. The London agents were not afraid and the Waikato Co-op. Dairy Co., Ltd., had found no difficulty whatever in arranging finances to suit the present position. Butter, well made, would keep with very slight deterioration for a year. London prices were exceedingly high and when final payments were made, suppliers would receive a very high average price for the past year.