TAIHAPE CO – OPERATIVE DAIRY COY.

Taihape Daily Times, Volume 7, Issue 250, 13 July 1915, Page 2

TAIHAPE CO - OPERATIVE DAIRY COY.

ANNUAL MEETING. The annual meeting- of the shareholders of the Taihape Co-operative Dairy Compnay was held in the Supper Room, at the Town Hall, on Saturday afternoon. A very good attendance was present, and the Chairman of Directors (Mr H. D. Bennett) occupied the chair. The annual report was submitted by the secretary, and favourable comment was made upon the satsfactory nature of the year’s work. The report read as follows: Your directors hav e pleasure in plac--1 ing before you statements of accounts and the balance sheet for the year ending May 31st last. As might have been expected the ertraordinary and prolonged drought of last season mate, rially affected the season’s supply, oord season shows a reduction of 53,139 which compared with the previous repounds in tlie butter manufactured,this season’s total being 274,091 pounds. I am, however, pleased to bo able to announce that while this is the ease in respect of the Company’s output, the profits for th c year’s work are very satisfactory, and the amount available for appropriation is fifty per cent., more than was available for the previous season. Taken in conjunction with th & fact that we were able to pay over 12 l-Srd for butter fat on an average for the season, and that a substantial bonus is also aailable, the shareholders have every' reason to be Pleased with the operations of the Company. Those food results are, of course, due to the high prices ruling for our product in the open markets. You will notic a that our stocks of butter on hand amount in value at cost to £3092. This represents for the most part butter that has been purchased from other companies before prices reached their present levels, paid if field to-day would result in a net profit of over £590, or almost equal to the profits from the ordinary' operations of the Cofpany for the whole sea. son. Your directors have accepted

a policy of Hoxn e separation of all depots Vr'itJi the exception of the Factory itself, orel wo fed certain that with the ■closing of the'last creamery ‘ (at Sanclon Block) the reduced working .«•.«? of the Company should en-

able it to show still better profits for the following seasons. The result of the year's work left a balance of £6llO 10/, which, with £4l 16/1 brought forward from last year, makes a total of £B7l 6/1 available, and the Foard recommend that this sum be dealt with as follows; Payment of :5 per cent, dividend on paidup capital, £l6O 1/3; payment of a bonus of td nor lb on butter fat supplied by shareholders, making 12:S0d for tho season. £450 4/*; to carry forward, £.7,7 0/10.J total.■ £O7l 6/1, (Signed) Id. D, BENNETT, Chairman.

T’i»' r-lf'Ciim of directors to the vacjiD.ftio?i caused by effluxion of life,and by the resignation of Mr McCart.in.The result of the election was that Messrs Campbell and McCartin wev e re-elect-ed, and Mr J. Wright was also placed on the Board, and will represent the supplires from Mangaweka. The meeting decided to make a donation of £SO towards the Patriotic Funds, with a recommendation to the Incoming Board to make a further contribution during the coming year.