SHANNON DAIRY CO.’S ANNUAL MEETING.

Shannon News, 28 August 1923, Page 3

SHANNON DAIRY CO.’S ANNUAL MEETING.

A SUCCESSFUL YEAR

The Shannon Dairy Cq. held their mmual meeting of shareholders-in the Parish Hall on Saturday, when there was a large attendance of shareholders present.

The directors in presenting for com s.ideration the fifteenth annual -report and balance sheet,, stated they felt the result of the year’s work had been entirely satisfactory. The quantity of butter manufactured was 694 tons 7cwt. 2qrs 271bs, an increase' on the previous year of 123£ tons and easily a record. The average .monthly payment for' suppliers’ butter-fat was 1/6J per lb and provision has been made for a further payment ol l|d per lb for the season, bringing the average payment To 1/8. The average! grade was 93.78. The store business for the year has • been entirely satisfactory and proves that co-opera-tion on sound lines is a success. The sales were £23,086 9s. 4d, showing a gross profit of £2,379 7s Id, after deducting wages. £BOO, freights £956, insurance, etc. £65, a net profit of £558 6s 8d is shown. The amount to credit of profit and loss accoutnt as shown in the balance sheet is. £2,720 19s 2d. Out of this amount it is proposed paying the usual 6 per cent, on paid-up share capital andl carry the balance for-' ward. _ .

The chairman, iMr R. W. Taylor, in moving the report and adoption, of the balance sheet spoke at some length on the success of the company during the past eight or ten years, the manufacture of butter having iifi creased from 250 tons to 700 tons and the store business from ‘£6ooo. to £25,000 per year. The shareholders were \to lib congratulated on their, success, and he hoped with! the same careful management to continue progressing on sound lines. Messrs Stiles, Ross, Chrystall, Jewell and others spoke- in high terms of the ’efficiency of the management m all departments and congratulated the manager (Mr Aim) on his success in winning so many very fin© prizes -at the last year’s shows. Mr Chrystall moved and Mr Ross seconded a hearty vote otf thanks to the manager, secretary and'staff, expressing their! ikeien -appreciation ',of the work done; and the toanner in which they had carried out the work lenjtrusted to them'. Messrs W. B. Barber and G. H. Stiles, the two retiring directors, were re-elected unopposed. (' Messrs H. Kem-ber and Son were re-appointed auditors for the ensuing year. Mr Stiles moved and Mr James seconded that the 10s premium, on shares be discontinued Several speakers ; j pointed out that the rule was very unjust and was. not in the interests: of true co-operation. The motion on being putt to the meeting was, carried by a very large mapority. - . A hearty vote- of'thanks to the chairman (Mr Taylor) and the directors was carried by acclamation and; cheers. *’