KAPONGA DAIRY COMPANY

Stratford Evening Post, Volume XXVIII, Issue 8, 8 September 1915, Page 3

KAPONGA DAIRY COMPANY

The annual meeting of shareholders of the above company was held in the ; Town Hall, Kaponga, on .Monday, Mr W. A. O’Neill, ciia'.n an of directors, ; presiding over a large attrtidance. ■ The chairman congratulated the . shareholders on the results of the ! year’s works. It would not be possible. lie said, to arrive at an exact result of tbe year’s prices until such time as the last shipments now on the j water arrive Home. The directors hail.j decided to erect curing rooms at River lea and Rowan. Although the prospects for the future appeared to be oood, as far as it is possible to .mtige if. still the matter of shipping will be a great um'nr a. governing, to a certain extent, the advances to be made from time to time. The , thanks of the shareholders were due to the employees, who had worked veil and loyally for the company. In the course of the discussion on the balance-sheet it wa° stated that nearn was only so'd to suppliers: that the farthing ;>«?• lb. butter-fat deduction intended to reduce the new capital of £IB,OOO had realised £ 100. which had been applied to reducing the overdraft at the rate of £ooo a year; that no man would pay a higher rent for the farm than the present occupier, and that if too much had been paid for its purchase the fault was that oi the directors who acquired it; that, although five, per cent only appeare I for depreciation, -t would be; form 1 that the total allowance therefor equalled ten per cent.; that it was pari of the conditions of sale that the blacksmith’s shop on the section purchased at Riverlca •■.hon’d be removed; that no interest was paid by the Tara- j naki Freezing Works, but £970 had | been credited to tbe factory’s shan- j capital account; that the shortage in j the supply of milk was due to the dry | season. An opinion was expressed by Mr Gibson that the interest paid by the Box Company should be applied to the reduction of the shares in that concern. A motion by Air W. H. Robinson :hat ]). t.xics shall on’-y be allo-mA when accompanied by a doctor’s certificate. was lost on a show of bands. A motion by Mr Dagg “That the suppliers of the Kaponga Co-opera-tive Dairy Co., Ltd., as a company, become a member of the South Taranaki Agricultural classes,!’ was lost. Mr W. A. O’Neill moved: “That the basis of allotting shares be reduced from one share for each 1801 b butterfat to one share for each 1201 b of butter-fat supplied during tbe year immediately preceding.” The motion was carried unanimously. The retiring directors, Messrs A. W. Mellow and R. Gibson, and Messrs I G. Hill and A. V. Tait were nominated for election. Before proceeding with the ballot Mr Hill addressed shareholders, explaining that he resigned from the board during tbe past year as a protest against the action of the directors in not consulting the shareholders relative to the negotiations for electric current for the Kaponga Town Board. In reply to this, , the chairman contended that the project was not a practical one for a coppqjative dairy concern to undertake. The election resulted as follows :■- —A. V. Tait 286, G. Hill 244, A. W. Mellow 183, and R. Gibson 147. The first two were declared duly elected. A vote of thanks was accorded Air Qibson for his past services as director. Mr W. J. Tristram was re-elected auditor. It was resolved to pay the usual honorarium to the directors, and to grant the secretary a bonus,' the amount of which was to be fixed by the directors.