GLEN-OROUA CO-OPERATIVE DAIRY CO.

Rangitikei Advocate and Manawatu Argus, Volume XXII, Issue 8964, 4 November 1907, Page 2

GLEN-OROUA CO-OPERATIVE DAIRY CO.

Tho annual meeting was hold ott Saturday night* Mr R: Boswell be= ing in the chair, and there was a good attendance of members; Tile eighth annual report was read. It stated that the year’s turnover was nearly £OOOO greater than that of tho previous one. The sheet showed is credit on the Work-, ing Account of £1541 18s 9d, out_of which the directors wrote off #SOO for depreciation of plant, which with the £IOOO written off last season, made £ISOO in two -years, and out of the £l4l 18s 9d remaining, they rocommueded tho payment of a 6 per cent dividend on paid-up capital absorbing £345 10s Bd, a bonus ot 3ICths of Id per lb be paid On butterfat during the year, amounting to £632 14s, an honorarium of £SO to the chairman, and tho balance of £ll3 5s Id be carried forward. . Tho prices paid out on buttsrfat wore one month at lid, one at lOjUfrl. four at 9>£d, and six at lOd, a slightly higher average than last

season’s payments, which oufthe total bntter-fat siiow an average of 10.31 a, roughly 10 1-3 d, and equal to .ffikl over that of last season. , The average test amounted to 3.03 u per cent, against 3.S per cent the previous season. . During the year tho Raugiotu Creamery had been bought from tho suppliers, aud had boon taking a most satisfactory and increasing quantity of milk. During tho past few mouths tho main factory _ had been completed in brick-work in a substantial aud satsfaetdry way, and larger oil engines had boon intsalled at Oroua Downs and Jones’ Lino, aud one was now being placed at Mickeytown to _do laway with the Turbine Separators’ extravagant use of steam. . Last season’s Laglish prices ot consigned butter turned out very disappointing, but it was evidently believed tho coming season would be much more satisfactory. Ino

directors who vacated their seats by effluxion ot time wore Messrs K. Boswell aud O. Hopping; tho auditors Messrs Rutherford and Oonuoll also retired, but these gentlemen offered themselves for ro-eiocton. The secretary reported that the total quantity of milk received was 21,1G2,5131bs as against 17,931,5631bs last year. The total amount of butter

fat paid for was 809.i431bs as agaiu-.t 678,534 the previous year. iho quantity of butter made was 901, lubjA lbs aud 71,9601bs tho previous yem. Tho overrun was 11.35 per cent, against 13% per cent the previous year. Tho average tost for tho year past was 3.826 and 3.8 the previous year. In tous tho quantity of butter made worked out at 403 tous_ and the previous year 344 tons. Of this amount 237 tous wore exported, 173 was sold locally aud there was more than 2 tous in stock. It required 33.4610 milk to make one pound ot

■butter. Butter realised 10.95 d uet per lb all round The butter exported was sold at per lb. Although the company received only £6OOO more for butter-fat sold during year it had actually paid out £IOOO more for butter-fat, which in itself was very satisfactory. The cost .of separation per 1000 gallons in the different creameries was ;—MickeytoWh 13s Orona Downs 345, Jones’ Lino 17s 3d, Maugawhatn 15s lid, Raugiota 10s Bd. The assets "of the company were shown in the balance-sheet as £8750 14s, and the liabilities at £lO4l 18s 9d less, the ovordaft being £IOO3. The total receipts amounted to £41,904 18s 3d, of which £34,181 11s l()d had been paid to suppliers. The average payment in fact for butterfat was one farthing higher than that by the Eltham Company, which lias the largest output of butter ill the colony. In referring to the satisfactory state of things disclosed, Mr R. B. McKouio, in seconding the adoption of the report and balance-sheet, which had been proposed by_ Mr (lonian, evidently voiced the views of the meeting in saying the results of the year’s working must be satisfactory to every shareholder, for the amount paid out for butter-fat was good. The bonuses wore good and the dividends also, and yet there was a large sura to be caried forward after decreasing the overdraft. The items ’for maintenance appeared rather high. The motion was carried. Messrs R. Bos’,veil and O. Hopping were re-eloctod directors. The chairman was voted an honorarium of £6O. Rutherford and Connell were re-elected auditors. “It was resolved that the directors bo empowered to issue 200 new shares. This step was deemed advisable in couunection with the erection of the Carnarvon creamery.

Proposed Co-Operative Store

The Secretary (Mr Duncan) speaking ns a member of the company, said 1)0 thought the time had arrived when provision should ho made by the company for supplying shareholders with groceries au<L ironmongery in bulk, that was to say, in large packages as a box of tea, a bag of sugar, and so on. It the business were undertaken in a fairly large way it would be necessary to employ a man to buy the goods and keep the accounts, so that the business could be run separate from the general factory work. It seemed to him it could he undertaken and worked in the interest of the shareholders. At Rongotea and Glen Oroua, there were about 40 persons employed about the stores and ho thought by cooperating in the manner lie had indicated most of the wages of those people could bo saved. The delivery could bo largely affected by-moans of the creamery carts. The goods should bo sold at the current rates and the profits divided at the end of the year in proportion to tho_ value of the •' purchases of individual shareholders. As profits on groceries and hardware amounted to ouo-third of the retail prices, ho thought the scheme could not fail to work beneficially to shareholders. Mr R. B. McKenzie said that lately farmers had boon agitating for the right to say (as against the popular opinion in the towns) under what conditions they should farm their laud, and to him tlio suggestion of the secretary appeared like an attempt to interfere with other trades. If at any time there was a monopoly or combination acting against their interest such action would bo advisable, but at the present time they were being fairly treated. When insurance rates stood at 18s the £IOO tho Farmers’ Union brought about a reduction to 8s 3d by starting a now company. That was a case of defence against a combination.

Mr Thos. McKenzie said a scheme as had been outlined by tho secretary was working well in connection with two factories in Taranaki.

Mr Lucas thought it would bo advisable not to undertake storebeoping. Mr Kongsit spoke in favour of the scheme.

It was proposed by Mr Duncan, and seconded by Mr H. L. Clark—- “ That a co-operative store be started iu connection with the Company and that a committee of five be appointed to go into the matter of finance generally and report as to its advisability to a meeting 1 1 be held in a mouth’s time”. The motion was carried by 25 to 11 and Messrs Boswell, Tennant, Simmons, Macauley and Duncan were elected a committee to act as above. Mr R. JB. McKenzie said he was willing to fall iu with the views of the majority 'in the matter now it had been decided to go on with the scheme. A vote of thanks was passed to the chairman and directors, the secretary, manager and stair. It wos decided that future meetings be held at noon.