SHANNON CO-OPERATIVE DAIRY

Shannon News, 18 August 1925, Page 3

SHANNON CO-OPERATIVE DAIRY

ANNUAL MEETING. The meeting 'Of shareholders in the Shannon Dairy Company was held in the Parish Hull on Saturday afternoon. The chairman (Mr R. W Taylor) presided over an attendance of 30 odd shareholders. DIRECTORS' REPORT.

The Directors reported as follows: Your Directors have pleasure in presenting' for your consideration the 17th annual report and balance sheet for the year ended 30th June, 1920. Although the butter-fat payment for the year is below the previous year, the result, nevertheless, is considered to he satisfactory.. The quality o! butter manufactured for the year was 762 tons llcwt., 2qrs. 161b5., an increase on the previous year ol o«J tuna lcwh, and is a record manufacture for our factory. The average monthly payment fqr suppliers' butter lai was Is 5.21(1. Provision has been made in the balance sheet for a further payment of id per lb on. the season, giving a total average payment lor the year of Is 6.2,1. lhe average grade was 93.1.0. lhe store, business still continues to. prosper and show a decided increase in turnover. The sales were £30,694 16s Ud, an increase on the previous year of £2424 lis lOd. .The gross profit was £2784 19s 3d, and after deductingwages, £1126, freight £B7O lis Id, insurances £7O and interest £IOO, a nett profit of £6lB 8s 2d is shown. The amount to credit of profit and loss account as shown on the balance sheet is £2462 16s Bd. Out of this amount your Directors propose to pay the usual 6 per cent, dividend and carry the balance forward. In-moving the adoption of the report Mr Chrystall said that the past season had been a strenuous one owing to the loss of the Manawatu bridge and the staff were to be complimented on the manner in which they have coped with the difficulty of transport from Moutoa, and had it not been for the high cost of transport over the Manawatu, the company would have been able to make a higher pay-out for butterfat supplied. ; The report and balance sheet was then adopted. Messrs, R. T. Tippler and P. W. Brawn, the two> retiring l directors, were re-elected unopposed. The acting auditors, Messrs Henry Kember and Son again offering their services, were re-appointed. REPAYMENT OF PREMIUM ON SHARES.

Mr G. H. Stiles moved the follow- ' irig motion, of which notice of mo- ' tion was given at the last annual meeting: "That the 10s premium paid by certain shareholders om shares be refunded." ' Speaking to the motion Mr Stiles said that some years ago the company was in such a good sum-, that it was decided that incoming suppliers should pay a premium ui 10s on shares. He did not think this was a true co-operative spirit, and although the old shareholders had built up tire company, the newshareholders had to carry on and he felt that this money should be repaid arid thus make the new shareholders feel satisfied. Mr Chrystall said he would second the motion as a point of Justice. Mr James said Mr Chrystall s present attitude surprised him as at a previous meeting he had strenuoiiblyTh?>chairman said he was opposed to the motion. It was not long ago that it was carried and the new shareholder was looked upon as a man entering into a good thing in certain cases the position would be ridiculous as they would either b ; navine to- men who had leit me Company or to those who had transS shares, .where no premium was paid. ■ He did not think it necessary and he contended they vveie not consistent, c i',r,ni,i Mr Stiles: 1 don't think we should penalise those still left in the comP M?' Thompson, contended they should pay out to all, whether active or not. P Some years ago when xt was proposed he had favoured the Premium, but he now thought Replying to a question, the ch m . man stated that no premium was asked now. The period;when it. wa» charged was from October, 1919, to M S?e h 'mSon on. being put to the meeting was carried.

DAIRY .INSTKUCTUK. Arising from the minutes Mi «■ Carter asked what was the Position m respect to the proposal to engage h-id been seriously considered by the SirecSrs and the} in their■ wisdom had turned the proposal down Mr Stiles then moved: lnat tins meeting of suppliers recommend 10 the Directors the engaging of die ervicis of a dairy instructor. consrdering that it is in the best into -iu>te of the company to do so and hat Ttvikp overtures to those companies ii the district who have engaged an Instructor to join with them m sharSfthe experses of same.'' In inovnt the recommendation Mr Stileb nofuted out that during the past seahack n the g P mSng and he contend SS that the appointment ot a ddiii largely help them im ,«.„ co irt it was not satisiacmendation saia 11 VVt ° . . com . tory to suppliers to see sister co panies forging ajiead of .them the grading. 1 „ . r Mr Barber said it i had all been g question of L.s.d., that the proposa. had been turned down Mr James said that since Le m had engaged the services of an tnstr c tor meir grade had gone ups v. 1»J----with Shannon who. had. not enipio, ed an instructor their grade had gon d °Mr n Chrystall said he did not want to be mandatory as to the mstruc tor but the small farmer was not to he the butt of the collar and tie man in the soft lob. In his opinion the present grading system at the factory