MOTUROA FREEZING WORKS.

Taranaki Daily News, Volume XLVII, Issue 81832, 27 August 1906, Page 2

MOTUROA FREEZING WORKS.

ANNUAL MEETING. The annual meeting' of the Tarauaki Producers' Freezing' Works Co., Ltd., was held in the Town Hall, New Plymouth, on Saturday afterneon. The chair was occupied by £ Mr J. B. Connett, chairman of dircc- ' tors. The full list of sKarcholders r present was as follows:—Messrs J. ° 13. Connett (Bell Block), N. King ;l (Crown Dairy Co.), Richards (Car- 1 dirt), B. Dive (Eltham), Spratt (Ha- <~ wcra), James Hill (Hillsborough), ' Corbett (Lowgarth), Brown (Mid- s hirst), Todd (Moa), Morton (Mango- ' rei), J. Brown (Makctawa), J. Mc- ' Donald (Ngaire), Gaine (Norman- ] by), Adlam (Oakura), Maison (Omata), Dingle (Stratford-, Euro- j man (Tikorangi). ' ANNUAL REPORT. | The directors submitted their an- ' nu,al report, as follows: —We com- ( mened the year with 8364 boxes fo butter and 110 cases of cheese in 1 store. We have received during the past season 186,671 boxes of butter and 0,631 cases of cheese, being an increase of 18,044 boxes of butter and 4378 cases of cheese over the previous year. 173,650 boxes of butter, 10,111 cases of cheese were shipped to the Home markets; 1650 boxes of butter to South Africa; 16,003 boxes of butter land 275 cases of cheese to Australian and local markets, representing a net tonnage of 4753 tons butter and 64g tons of cheese, leaving 3732 boxes of butter and 13 cases of cheese in store on the 30th June last. .£IOOO has been placed to the credit of a reserve fund out of the ljalance to the credit of profit and loss at the last annual meeting, and we now recommend that a further sum of £IOOO be placed to the credit of the same fund out of this year's profits. During the past season Mr Morrison has effected various improvements, amongst others, another conveyor for the quicker despatch of butter in and out of stores, also another lift to the upper chambers. All the machinery is in first-class condition, and reflects great credit on the manager and chief engineer of the works. BALANCE-SHEET. The profit and loss account showed £66 7/1 carried forward from last year, after placing .£IOOO to reserve; freezing- account, ,65744 15/7; cool storage, £l4O 12/7; branding, rents, ice, etc., £l9B 3/3: total, £6140. 18/6. Debit: Depreciation (5 per cent.), £763 16/2; wages, £1076 14/11,; coal, £451 0/6; wear'.and tear, £ll9 6/2; charges, £227 9/; interest, .£753 18/; oils, etc., ,£l4O 14/; insurance, £lO9 7/7; directors' expenses, ,£44 1/10; law costs, £3 3/; railway siding, .£l2 5/6; bad debts, £l6 2/6; leaving a balance of £1531 icj/4, of which £IOOO has been placed to reserve. Liabilities : Paid up capital, £2061 > reserve, ,£1000; suspense account, .£35 17/G; Bank of New Zealand, £11,060 2/9; sundry accounts, £lO 12/3; balance, £1531 19/4; total, ' £15,699 U/!0Assets: Land, £337 10/; buildings, i less depreciation, £8796 8/; machin- ■ cry, less 5 per cent., £5622 9/4; , plant less 5 per cent., £94 18/; ; stocks, £79 5/2; storage accrued, ■ £125 1/10; cash in hand, £2 12/10; . sundry debtors, £641 6/7; total, . £15,699 11/10. in moving the adoption of the re- , port and balance-sheet, Mr Connett complimented the shareholders on I the completion of another successful year's operations, and explained ] ■ several of the items of expenditure. The motion was seconded by Mr • Brown (Makctawa), and carried. ' Mr Dive, speaking at some length, 1 criticised a circular recently issued ' by the Patea- Refrigerating Com- • pany, and denied that factories ship--1 ping through Moturoa were not ; doing so well as those using the port , of Patea. In support of his state- . ment he compared the balancea sheets of the two freezing com- -, panics, showing that the extra cost of railage from some stations to ' Moturoa was counterbalanced by ' the cheaper cost of freezing here, Moturoa working at less expense J than Patea. The prospects were ' that the works at New Plymouth 1 would be able to handle produce at 3 even less coi,t, He also mentioned 3 the great inconvenience frequently , caused at Patea by the vessels tak- ; ing the ground, or the bar being unr workable—delays in shipping were . matters of serious moment to butter producers. Mr Morton followed on somewhat I similar lines, laying particular stress 5 on the fact that, less risk attached to \ shipping through New Plymouth I than in the case of Patea. . Messrs Corbett and Gainc were re-elected to the directorate, and Mr e C. Rennell auditor at a fee of ten guineas. Mr Brown (Midhirst) moved, Mr McDonald seconded, and it was car ried, "That the shareholders of the Taranaki Producers' FreezingWorks Company respectfully request the Hon. Minister for Railways to r take into consideration the question t of reducing the railage rates bc--1 twecn the Freezing Works at Motu--3 roa and the New Plymouth wharf, . the high rate now being paid being e in the opinion of the meeting an ex--1 cessive one, and having a tendency to drive trade away from the port." i Eulogistic remarks were made by several shareholders concerning the very capably manner 111 wfiich Mr Connett had carried out his duties as ' chairman of directors, and on the Y motion of Messrs Foreman and Riclic aids, it was decided to vote him an r honorarium of £4O for his services. Mr Connett thanke' the meeting, r Mr Corbett referred to the very

great disadvantages under which the iictorics laboured in t|io district west or Eliliam owing to want of rapid and cheap means of transit,' and moved that the Government be urged to push on with the construe: tion of a railway from Opunoke as soon 'as possible. The motion was seconded by Mr

Gaine, and carried. At a meeting of directors held subsequently, Mr J. B. Conniitt was reelected chairman.