FARMERS’ DAIRY UNION.

Shannon News, 29 August 1922, Page 3

FARMERS’ DAIRY UNION.

ANNUAL GENERAL MEETING.

The annual general meeting of the shareholders of the New Zealand Farmers ’ Dairy Union was held last Monday. The chairman of the board of directors, Mr J. A. Nash, M.P., presided.

In moving the adoption of the annual report, and balance-sheet, the chairman said that the extraordinary features of the season had been the prolific growth of grass and resultant large increase in the flow of milk, this being accentuated by the advent of the sheepfarmer into dairying. In the company ’s own case, the increase over last year was 23S tons or 59 per cent. An-

ticipating a still further increase, the directors had enlarged the factory and were adding to the plant, the work all being done by their own staff. Another unusual feature was the fact that this year they had not had to store a single pound of butter for winter consumption, thus saving heavy cost of storage, the supply of cream being so continuous that they had been shipping butter regularly by every steamer since August of last year, such a thing not having occurred before in the history of the company. The London market was subject to fluctuations to a remarkable degree, dropping from 190 s in September to 112 s in December, and afterwards rising with occasional checks to 236 s and even in odd cases to 2405. At one stage of the year the company was in debt £3OOO to its agents through the sudden drop, and it had to drop its advances to suppliers to 91d for December and January. From, then omvafds, however, it picked up, until the date of

closing of its books when it had a credit of £13,000 with its agents. It had since received all but about £2OOO of this surplus, and the directors were distributing a total sum of £15,671 Is Id for bonuses and July cream amongst

its suppliers this week. A great deal of new business had come to the company without any canvassing or effort of any kind, and it was very gratifying to find that dairying men generally were recognising the union as a valuable channel for disposing of their produce. ASSISTANCE TO. SUPPLIERS. Continuing, Mr Nash remarked. “Our loan department began some years back in a very modest way by advancing small sums to suppliers foi increasing their herds and, gradually as the demand increased for financial assistance, it became necessary to find moneys for this purpose. Our loan department has helped a very great number of our people to make a start, and has been of mutual benefit; but it was hardly to be expected we would come through this year of low prices and land slump without a loss, and we have had for the first time to write off a small

sum representing 5 per cent, of the amount invested. We have with us a very large number of returned soldier suppliers, nearly all of whom are being financed by the Government, and the latter has availed itself of our staff to collect the monthly instalments due by the soldiers. This service has added considerably to our office work, as well as being an extra expense in the way-of stamps, postage and stationery, so much so that in fairness to our free suppliers we fell compelled to ask the Lands De-

partment to recoup us for the collection and remitting of these moneys. However, their rules apparently did not provide for such advances, and they referred us back to the soldiers. Knowing, however, the latter were already under a sufiidei t burden wo decided not to make any fuss about it, but just shouldered the burden ourselves.” Concluding. Mr Nash referred in eulogistic

terms to the "work of the company s very efficient staff, including Messrs A. G. Morgan, manager; W. Henderson, foreman and engineer and motor expert; B. Cookslcy, head butter-maker, and Mr W. E. Bendall, secretary.

The report and balance-sheet were adopted after a short discussion. I he retiring director, Mr R. H. Stallartl, v;as re-elected.