NEW ZEALAND DAIRY ASSOCIATION.

Taranaki Daily News, Volume L, Issue 60, 29 August 1907, Page 2

NEW ZEALAND DAIRY ASSOCIATION.

Per Frees Association. Auckland, August 28. . The annual meeting oi shareholders o£ . ' the .New Zealand Daily Association was • held this aftenioon. The* report and - balance-sheet, as already published, was adopted. Ml' Wesley Sjiragy (cliairiuan)i in moving the adoption of the report, - said the past season had been in soma respects a succession of disasters. Fire,, " Hood, breakdown, accident, and illness' I had followed each other. The sudden * washing away of the railway lines and-" bridges destroyed means of commonlca-': .^

tion, and disorganised their business., M The injury to the company' through loss of supply, which in many cases was not S recovered for the rest of the season, tlw ' * very expensive makeshift transit means which had to be adopted, and the forced' < ' sale of cream In some districts, made a marked difference to business. Bad it not been for this disaster, the manufacture, which Bhowed an increase of 373 tons over last year, would have been very much larger. The quantity of but- . ter made by the company this season had been 4,029,139 lbs, as againßt 3,194,- . 058 lbs for tho previous season,' Thia » represented an increase of 835,081 lbs or a little over 20 per cent., whffe the in-;' crease in manufacture had been 28 per ' cent, •'t'he cost of manufacture, and the general cost of business had increased only a little over 12% per cent.; that is, there had been a proportionate saving upon the handling of this increase* of £36668. The increased bonus paid this ■ year as compared with the last was. . £3037. A balance of £O3l, had also - gone to the general businejj. The total value of the year's local business had ~ been £78,788, an increase of £8347 up- , on the preceding year. In the six years \ of the company's existence the original 1 debt had been reduced by £27,000. The ? value had new property acquired since the purchase was made from the old ; ' dairy association amounted to £17,737 6s Id. Thus the company's property, apart from increment, was to-day worth ' about £57,737. ■ The directors' report in- >■ dicates that two or three more calls up- " on the first issue of shares, and calls to " bring the second issue up to the same paid-up vajue, would meet all the ordlnary financial engagements of the company. In conclusion the chairman acknowledged the valuable services render-" ed by the staff.