TAIHAPE CO-OPERATIVE DAIRY COMPANY.

Taihape Daily Times, 12 July 1919, Page 4

TAIHAPE CO-OPERATIVE DAIRY COMPANY.

—«———————¢————-- ,: ANNUAL 'MEETINGI_ ' The fifteenth annual meeting of Taih-ape Dairy Company was held in the Supperroom’ of the __Town Hall this afternoon. Mr. H. D, Bennett presiding oV€l‘.B. good attendance. The following report was Submitted:—— On behalf of the Board of Directors -1 have pleasure in again, presenting "State-nient of Accounts for the year ending ,May the 31st, 1519 f TheVgollt‘put of the factory shows at decr‘ea{se of z1,6261b5, as comparea With‘ ‘the’ previous year. The high-cost of labour and material, together with_the known" attractions of sheep-farming, no__do_eibt; account for the diminishing.ou_tput. ‘ The quality of our butter has_ been kept to the highest sta.nda’rcl,'_A and" Shareholders will be pleased to know that the much-coveted position of top place of all buffer gradedgat Wellington, has been won by: Tikapu this year.

‘The financial condition of the Company is now very souhd, and the shares have accordingly hardened in value. ~- _ ;-- ‘

Government restrictions on the price of butter for the local .mwarl<et.~Vcontinueto be a source of mucii anxiety on the part of dairy. farniers through’. out the count:-y,.ancl many, imeefcings of protest, follovyved by dcputationsto the Minister, have been..hel<l_,;vsvithou__t r-zsult. It is estimated that this._sp_ec_i_z=_.l_ tax on the dairy farmer .alnounts. to £300,000. a. year, and is a diiyeict con~ ti-ibution by that one ..class of the community’ toWards,the- cost of living of the rest" of.the..«. population, rich and poor alike. -—'llhe«-incidence of this class tax’ is: the more objectienzible because of the escape of cheese interests this year. No remedy appears available till the present Government ar—rangements expire in June 1920. ' A study of figures given in the Profit and Loss Account Will Show that the affairs of the Company are run on most economical lines, reflecting credit on the managemeflty the Value of Which your directors are not unmindful.

Shareholders will be pleased to find that substantial sums are -available for distribution. The sum of £621 was brought into account as a balance board recommends that the major proportion of this be paid to that year’s suppliers, It should, however, be. noted that a much larger sum was carried into that year from the previous season. much to the advantage of th 1918 suppliers. After provi-ding £215 11/for dopre. ciation, the sum of £2365 2/, remains available, and your Directors recommend the following appropria'tions;._ .6 s d

Payment of 6 per cent. on Paid—up Capital Payment of %d. per lb. ‘ to previous season’s Shareholder subpliers making that year 1/6) Bonus of 12d. per lb. on ‘ ' this season’s shareholder Suppl‘! (making Transfer 5 Reserve Ac count To carry f0rward......... 63 17 5 The Profit and Loss Account shows: Stock at May 31, 1918, £2756 18/3; Purchases £2784 1578‘; butterfat ‘purchases £15,043 14/; cartage (cream, £468 4/; freight inward, ‘£lo3 10/; Wages, £571 1/; balance carried down ‘£3.35/4 17/11; other payments, £2241

18/11; n‘e_t profit, £2288 3/6. Total,. £30,097 3/3. Ré'ceipts:—Sales: Local £15,433 7/.1; export, £7372 2/; suppliers, £SBO 17/8; milled butter account, £39 3/9;—sro‘ckg at May 31st, _ 1919, £1409 10/4; due under export arangements for 1918-19% £732; balance brought‘ down and; her receipts, ( £3908 19/; export surmgf for 1916-17 and 1917-18, £621 3/5. ’£*‘otal, £30,097 3/3. ' ' Mr H. D. Bennett, chairman of directors. moved the adoption of the report, and referred to -the .oper.ations. of the Equalisation Fund, the dried milk industry, and the p.rosp‘ects of’ ‘ the future. He explained in detail. various items in the balalléi” ‘sheet. He said the future of the dairying in- . Vustry was bright, and from the World sitnation in regard to dairy produce prices would be nmintained. »

The motion for adoption was duly‘ seconded and carried unanimously. Mr G-oldsbury congratulated the mallagement on the very successful season, which, to a great extent, was due to the faithful work of ’cheir‘_employees. The shareholders were get~ , ting-M.a bonus, were the employees also getting a bonus? The company had good men in their employ, and wanted: to keep them.

Mr Bennett -said the directors would take this matter in hand. He quite . agreed with Mr Goldsburg as to the value of -their employees, and the direc- L to,rs were very proud of their staff. They had In.‘:\d€ a substantial increase in the salary of the manager. He also paid a tribute to the ,retiring ‘directors. Messrs Macarfney and Stent. , Messrs Clarke and Menzies were reappointed audi-tors for the coming year. Three nominations were heceived for the two vacancies caused thmugh the retirement of Messrs I-.\'lacal't:ley and Stent, and on a ballot. Oeiflg taken. ‘Messrs -Casey and Macartney were fluly elected. . This being all the business the meeting: passeda vote of tlimks to 1319 claair and adjoiigned; - ; _.c v, .- r—:—