Te Aroha District Co-operative Dairy Co., Ltd.

Te Aroha News, Volume XXVII, Issue 43211, 6 August 1907, Page 2

Te Aroha District Co-operative Dairy Co., Ltd.

There was a large attendance of shareholders of the above company, inoludiug a number of 1 idies, at the annual meeting iu the Public Hall yesterday afternoon. Mr T. Gavin, chairman of directors, was in the chair, The minutes of the last annual general meeting were read and confirmed ANNUAL REPORT. In submitting for your consideration the fourth annual report and balancesheet for the year ending May 31st, 1907, the directors trust that you will be satisfied with the result of the year’s opera tions.

For the period contained in the balance-sheet the turnover amounts to £ 15,949 0s sd. The profit and loss account, after writing off £412 12s 6d for depreciation, etc,, shows a credit balance of £371 15s 7d. From this amount the directors have decided to pay the shareholders £149 14s (being interest at 5 per cent, on share money paid to May 31st, 1907) ; a bonus of £lO to the factory manager, and £5 to the creamery manager at Te Aroha West; transfer £IOO to the reserve fund ; carrying the remainder, £lO7 Is 7d, forward. The number of shareholders has increased from 74 to 94, holding 2,135 shares. The total quantity of butter made was 421,5891b5, an increase of about GO tons on the previous year, the whole of which (with the exception of 67 boxes made from cream purchased duriug the flood period in January last) was classed as first gr ide. Reports received from onr Home agents hive been uuiformly favourable, the butter maintaining its reputation as “choicest New Zealand ” on the London market. The highest price realised being 120 s for a portion of the Septemb* r consignment. Mr Morrow and his assistants are to be congratulated oil the economical manner in which the plant has been run during the season, the cost of manufacturing a pound of butter being reduce/! from l a 32d last season to 0 - 96 d for this.

Your indebtedness to the Bank of New South Wales is being steadily reduced. You now owe £2,007 8s 9d, a reduction of £1,410 3s 7d on last year. Messrs T. Gavin and W. A. Taylor are the directors who retire in rotation. Thoy are eligible for re election and offer themselves accordingly. Mr Charles Wailnutt is eligible for re-appointm<-nt as auditor.

The Chairman proposed that the report and balance-sheet be adopted. He was very pleased to see such a large muster of suppliers, as it showed the great interest they took in the affairs of the company. Things had gone on very smoothly this year, principally owing to having such a good manager, and to the suppliers themselves in bringing in good milk. He paid a great compliment to their manager, who they reckoned to be one of the best in New Zealand. They had had no complaints from suppliers as to the management, and that was con. sidered very satisfactory. He referred to complaints from the manager of one or two instances where inferior milk had been sent iu, and the directors this season decided to get to the bottom of any charges made. He referred to the bonuses given to the manager and to the manager of the Te Aroha West Creamery, and explained how it Was that only the two had got bonuses. Mr Stanley seconded the motion. He thought they were justified in giving the bonuses, though the creamery manager ought to have received more. Mr Lennard wanted to know how the wages compared with the agreement. The Secretary stated they were not paying quite so much. Mr Lennard gave his experiences of milking for the last year. There was nothing in it for the milker. Mr Stanley was strongly in favour of paying good wages and keeping suitable men . M r Lennard retorted that Mr Stanley had sold his cows last week, and it would not affect him.. Mr Stanley said he took up his shares and paid for them with milk, and he thought that if they took his money they should pay him interest on it. Mr Ferguson reckoned that non-share-holders got more than they ought to. The Chairman said they saved one per cent, on non.-shareholders. Mr Lennard said he was in favour of making each factory pay its own expenses. He instanced the creamery at Waitoa, which he kescribed as a white elephant. The Chairman said he was strongly against that idea, as being foreign to true co operation. He explained how the dissatisfaction had arisen at Mata mata. He said the Waitoa Creamery had worked at a loss for two years, and if they had good roads there they would probably get the largest supply of milk there. At present Waitoa was paying its way. The suppliers there had done everything possible to keep the expenses down, even to cutting and carting firewood.

, Mr Thomas said the feeling of most of them was in favour of sticking to their small suppliers. —(Hear. hear). Mr O’Donoghue was strongly in favour of keeping the Waitoa Creamery going He read extracts from the Taranaki award, and claimed that they were paying more than the award. The only two they should consider were the factory manager and the secretary. An amusing debate took place at this stage between Messrs O’Douoghue and Stanley in regard to wages paid, both men shouting at each other to the am useinent of the audience.

The Chairman said they were paying a little less than the Thames Valley Company. Mr Strange said he did not see why they should deal with their men in accordance with the Taranaki a--ard. When they had a good man they should keep him. In regard to a question by Mr Voysey as to the legal and flotation expenses, the Secretary stated the expenses were spread over a number of years. The report and balance sheet were unanimously adopted. In regard to the election of directors, the Chairman said they had always worked . well together. The company had got iuto such a sound position now that their affairs could be carried on safely if the shareholders looked after things well. He said the men with him bad done everything possible f"r the advancement of the company. Mr Stanley proposed that the retiring directors be re-elected, and in speaking to his motion paid a great compliment to the Chairman, Mr O’Donoghue had great pleasure in seconding the motion. A better chairman than Mr Gavin it would be impossible to get. The motion was carried unanimously. On the Chairman's motion, Mr "VValJnutt was re elected auditor. Mr Ferguson brought up the question V

of inspection of dairy cows and the speying of cull cows. Mr Mikklesen said the trouble would be to get a Government inspector capable of speying the cows. On Mr Lennard’s motion a hearty vote of thanks was acccorded to the chairman and directors, the secretary ai.d staff for their services durin: the year. The Chairman announced that the dividend was now payable at the secretary’s office-