DAIRY FACTORY MEETINGS

Southland Times, Issue 24835, 29 August 1942, Page 2

DAIRY FACTORY MEETINGS

AWARUA.—At the annual meeting of the Awarua Dairy Factory Company the chairman, Mr J. F. Egerton, said that the season under review had been a most satisfactory one, the output of 467 tons being a record. Dairying conditions had been very favourable and while manufacturing costs had advanced as a result of increases in materials, storage and interest charges, the higher yield and splendid quality of the factory produce had enabled a larger return to be made to suppliers. Deferred payments of £4040 had recently been made, bringing the total return to suppliers to £30,659, which, with the 4 per cent, dividend declared on paid-up capital, made the season average payment 19.11277 d a pound butterfat. An election for three directors resulted in Messrs T. Cosgrove, J. H. Gunn and N. Egerton being appointed. The question of membership of the Dairy Farmers’ Union was left to the discretion of individual suppliers. OTAMITA.—The formation of a Dairy Farmers’ Union was referred to at the annual meeting of shareholders of the Otamita Co-operative Dairy Factory Co. Ltd. yesterday. The chairman (Mr J. C. Dickson) said that there were too many unions now and he thought the organizers of the Dairy Farmers’ Union would do more good if they threw in their weight with the Farmers’ Union. Mr A. E. Whiteley supported the Dairy Farmers’ Union and said that if the dairymen gave their support to the organization they would get somewhere. There was no motion put forward and the discussion lapsed. The annual report stated that the surplus of the 1940-41 season was .91d per lb of butterfat- The actual extra payment was Id, making a total for the season of 16.99 d. For 1941-42 suppliers had received 15.99 d, and the balance of the manufacturing and marketing account was £450/18/7. The directors recommended the payment of a dividend of 4 per cent, on the paid-up capital, and after providing for this, but without allowing for taxes payable, there was £3Bl 18/7 available, ei.ual to 1.37 d per lb of butterfat. The following directors were re-elected: Messrs J. C. Dickson, R. T. Cross, A. E. Whiteley, John Miller, C. E. Scarlett. Mr F. Young was re-elected auditor. It was decided that a dividend of 4 per cent, on the paid-up capital be declared.