SHANNON CO-OPERATIVE DAIRY CO., LTD.

Shannon News, 13 August 1929, Page 3

SHANNON CO-OPERATIVE DAIRY CO., LTD.

annual meeting. The twenty-first annual meeting of ' shareholders of the above company was held in the Parish Hall, Shannon, on Saturday afternoon. There’ was a good attendance of shareholders present. Owing to the absence of the

’ chairman, Mr .E. Waring ray mi, through indisposition, Mr W. Larbei was voted to the chair. . The acting-chairman, in opening tnc . meeting, congratulated the company on its coming of age (21 .years) aa( * good' record it had put up since coming

into existence. _ ; . u** - • Arising from the minutes of the las^ aBMal meeting, ring to the question of company changing over-from butter to .cheese, , ' said hb had silice made enquiries and he had been informed that a difference of 3d per. lb could be shown - it would not be-wise to change over as the cost of installing the necessary machinery would be considerable. He was now satisfied it would not be wise. In presenting the report and. balance sheet, the acting-chairman said the

company -had had another successful year and he thought all would be. in* accord with the prices paid. During the year they had nict with difficulties. • In this respect he referred to the trouble occasioned by the unsatis- ' factory working of the old punt in flood times, which had caused the factory annoyance and a loss which had considerable bearing-against their pay-

out. This difficulty had now been overcome and with the new bridge thev would be brought in closer touch with those farmers across the river, besides being a saving in mileage. Another difficulty that he was pleased to know was overcome was the serious illness of their manager (Mr Aim), who had been laid aside for many weeks. Naturally ' the organisation had been a little upset. He said they would notice that • the amount of manufactured butter had gone up to 933 tons, an increase of 119 tons, which spoke volumes. The payout had been for all grades of butterfat; which after the meeting would be brought up to Is 7 5-16 d. All butter had been finest grade. The store business had shown a profit of £924 17s 9d. Mr G. H. Stiles said , the directors always made a point of the advance payments being as high as possible each month and therefore these had been a shade under Is 6d per lb. This he thought must appeal to suppliers. Al- • though the advance payments were high they., still could pay a little more a.nd ■ again suppliers would find that they • were pear the top amongst the highest payouts in the Dominion. The factory • had been well managed, but suppliers did not always appreciate the diffieul- . ties thfe Directors had in making satis- • factory sales. Last year they had taken advantage,,of the high prices offering, instead of making consignments. ’ Mr- Stiles stated that he believed in -making a good sale when it was possible, rather than to adhere to a definite consignment policy. f ■■ ' Mr G. Barber said lie heartily congratulated shareholders and it was fitting that they should have a- record turnover for their twenty-first anniversary. Mr . Chrystall pointed out ■ that the manufacturing cost for the past season was 1.65 d f.0.b., Wellington, which was . one-tenth of Id better than compared

with the average factory, and meant, that suppliers were getting Id per lb. more than these or £1 per cow. He said it/was pleasing to see the loyalty

that existed between the shareholders and factory staff. The report and balance sheet was then adopted. ELECTION OF DIRECTORS. ' The nominations of Messrs W, James, Geo. H. Stiles (retiring directors) and R. J. Law were received for the two vacancies. Messrs Geo. H. \ Stiles and R. J. Law were elected. Mr Stiles and Mr Law! returned

thanks for their election', the latter asking that shareholders show their appreciation of the years of service given by Mr James (the defeated candidate) in the interests of the factory, as he had given his time and knowledge freely, and was deserving of the shareholders’ thanks. Mr James in returning thanks said that he had been a member of the directorate for the past thirteen years , and had always endeavoured to do his best. The acting chairman said in Mr James they were losing a good director who had been very useful and had done goad work in the interests of the factory. AUDITOR RE-APPOINTED. Henry Kember and Son., Wellington, • were reappointed auditors for the ensuing season at last year’s remuneration. BONUS TO EMPLOYEES.

Mr R. J. Thompson said that as the Company had been prosperous, which meant prosperity to the district on both sides of the river, and seeing they had now attained their twenty-tirst birthday, he, asked if there had been .•any proposal to give a birthday gift to their employees, as. there was no doubt ' that they owed a lot to their staff for ' their position to-dayi He moved that g bonus of 7 per cent, on their year’s ' salary be piade to the employees. This ' was seconded by Mr G. Barber. After some discussion, in which '■ shareholders were in. accord that their services should be recognised, it was y -decided that a bonus of five per cent, b. on their yearly salaries be made to the •i..' ’employees in view of the company s ;, ! 21st birthday, and on account of tljen v,. excellent service. T . 1 • . SUPER TAX QUESTION. ,Mr W. Barber said it would be no/‘.ticed by shareholders that in the Prime Budget Statement concern||ing ;the supertax that something was 4|-beihg popped on to the man on the land - EfUr R. J. Law said he considered the ft,:. .. - •. ;

introduction of the Super Tax meant the introduction of the thin end of the wedge. Some years ago, he said, there had beep a high land tax, but relief had been given. Now, however, it seemed as though they were going back again. It appeared most unjust that a man should‘be taxed on what did not belong to him and this was the case on account of the reduction of the mortgage exemption on land. Mr Chrystall said he thought the proposed super tax was of a very vicious nature and said it was unjust that a man should be taxed on his debts. That is what it meant. He considered that the proposed super tax practically meant confiscation to. the Crown and would be

a rank injustice. The following resolution was moved by Mr Law and seconded by Mr Chrystall: “That this meeting of shareholders of the Shannon Dairy Co. emphatically opposes the reduction of mortgage exemption as proposed and that the unimproved value of £20,000 be realised before the Super Tax is imposed.” The resolution was carried and copies of same are to be forwarded to the Prime Minister, Leader of the Opposition and Mr 11. Holland. The meeting then terminated. At a meeting of the directors held afterwards Mr R. W. Taylor was reelected chairman.