WAIKATO CO.OP. CHEESE CO.

Pukekohe & Waiuku Times, Volume 7, Issue 407, 6 September 1918, Page 1

WAIKATO CO.OP. CHEESE CO.

Annual Meeting

The annual meeting of the Waikato Co-operative Cheese Company took place at the company's office, Waid street, Hamilton on Friday last. Mr W. Goodfellow, managing director, occupied the chair. The directors' report stated : The quality of the cheese made had been satisfactory. The output had increased considerably, being 825 tons, as compared with 623 tons for the previous season, and a further increase might be expected at most of the branches during 1918-19. The total payment to suppliers for the 1916-17 season was £45,506 as compared with £68,576 for the past season Owing to war conditions the value of all produce had been steadily advancing during the past few years, and the Imperial Government's payment of lOd net N.Z would likely be increased by Ad per lb at an early date. Tne sum of £2126 7s lid was received for whey butter and must be regarded as exceedingly satisfactory. The profit and loss accounts showed substantial balances, but as a very considerable quantity of cheese yet awaited shipment, a progress bonus would be paid shortly and the balance later, when the whole of the past season's make had been shipped and paid for. Messrs A. J. Kidd (Aka Aka), Kennedy Ross (East Tamaki) F. Bowden (Hairini), J. Pohlen (Matamata), and A. R. Yosper (Turanga-a-Moana) retire by rotation from the directorate. Messrs K. Ross and A. R. Yosper retire permanently, the latter having left the Turanga-a Moana district. Messrs James Ross (East Tamaki) and Robert Troughton (Turanga-aMoana) have been nominated to the positions thus vacated, and Messrs Kidd, Bowden and Pohlen are eligible and oiler themselves for re-election. In moving the adoption of the report and balance sheet the chairman stated that the total butter-fat received during the year was 1,848,1521b as compared with 1,396,026 for the previous year. The total business for the year amounted to £85,434 and the total shares (£2) issued numbered 4749. No profits had been carried forward from the previous season. In addition to th 6 usual depreciation provided for i.e. 5 per cent on the buildings and 10 per cent on the plant—a further substan tial sum, equal to 2d lb, had been written off the East Tamaki and Hairim branches, this being the money received from the Imperial Government for cheese commandeered. The chaiiman concluded his remaiks by conglatulating shareholders on the progress made by the company and indicated that a further substantial increase in the output of cheese for the coming season was assured. The report and balance-sheet were adopted. A dividend of 8 per cent was declared.

Mr 8. 0. Chambers was re-ap-pointed auditor. The meeting closed with a heaity vote of thanks to the chairman.