WAREA DAIRY COMPANY.

Taranaki Daily News, Volume LI, Issue 194, 6 August 1908, Page 4

WAREA DAIRY COMPANY.

(From Our Own Correspondent). Tliu minimi meeting of shareholders in the Warea Dairy Company on Monday was largely attended, Mr. Jus. Burgess presiding. The annual report presented by llio directors congratulated the shareholder* upon the completion of another satisfactory year, although the output showed a decrease as compared with that of previous year. The company received 5,47G,7251b's ot milk at the factory and creameries, containing 211,02+,15(iibs of butler-fat. from which were made 23+,2+!llbs of butter; over-run, 11.per eeni. It took 20.41bs of milk to make, a pound of butter. After making advances on milk received of £8527 His 'id, there remained a credit to profit and loss account of £504 13s 4d. Of this the directors recommended that £1)8 18s 8d be applied to depreciation account at the rate of 4 per cent, on land and buildings ond 5 percent, on plant; £72 Is 8d be allocated for payment of interest at the rate of 4 per cent on paid-up shares; £387 12s 7d to payment of a further amount of .45d per lb of butter-fat delivered during the months of October to May, inclusive, and the balanceof £5 (Is 5d carried forword. The further payment would make a total payment on the year of lO.lod per lb. of butter-fat. The "directors asked the shareholders' direction in (he matter of registering under the Dairy Companies Act of last session. The directors had agreed to join in tin! movement to ship their produce on consignment through the National Dairy Association, and hoped i f , would result in material increase in the next proceeds received from sales. During the yoar 70 new shares had been allotted. The balance-sheet showed expenditure Advances against milk, C 5527 10s (id; working expenses, £lB7 (Is 3d: export charges, £IOB lis 7d; cartage, £l3B 3s Kid; salaries and wages, £+sß His 3d. lleceipts included butter sold and on hand £10,2(1!) 15s Bd. The annual statement was adopted. The following were elected directors: Messrs. E. Avlward. A. Clothier, (i. !\ .rones, 11. Cnr'licU. .7. Burgess. ,1. Mill-r, and A. Cassie. It was decided to increase the chairman's honorarium from t: 111- lo £2O a Year. The meeting decided to register under the new Act, mill approved the action of the directors in connection with the disposal of the output. A resolution was carried in favor of the New Plymouth llarKir Bi'l ami protesting against the inclusion c the district in the proposed Opnnak) harbor rating district, At a subsequent meeting of direclu 0 Mr. Burgess was reelected chairman.