DAIRY FACTORY MEETINGS.

Taranaki Daily News, Volume LI, Issue 211, 27 August 1908, Page 3

DAIRY FACTORY MEETINGS.

MANGA'i'OKI. The eighth annual meeting of the Manga loki Co-operative Dairy Co., Ltd., was held in the Manga told Hall' on Tuesday. There was a fairly large gathering of shareholders, over wlioiu Mr. J. Marx (chairman of directors) presided. The chairman said the year's work had been extremely satisfactory. Kur the last two years they had adopU'i ' the rigut policy—two years ago thev liad Sola and saved £2OOO or .tyOOO, and last year by being one of the few companies that iiad consigned liiey had saved more. There had been a decrease of over 20 1 tons h the year's output, and this had partly been ac- [ counted for by the partiality of some ' suppliers for cheese-making. Their loss 1 had meant a corresponding increase in 1 the cost of manufacture as tile wares bill would be (he same if they we're f making another 50 tons. The o'ver-run 1 was better than it liad been before, a

result that was practically brought about by tihe new churn. In tile past tile over-run liad been about 12 per cent., and last year it was 13.28 per I cent. This meant a -bigger proKt, an.l so long as they turned out a good article it was quite legitimate to have tliat additional gain. Bad debts had totalled £94 13s. Heally that sum represented the losses for eight years. As a set-ofl they had accumulated pro- |

fits from the West Coast Refrigerating Company amounting to £SBO Ij s 41 In reply to Mr. Bel ton the chairma-i said the real test of fire success of a I factory was what it paid for butterfat. He had not calculated the cost of manufacture, but it took very little over the over-run to pav for the whole cost. The "cost of manufacture-' was a very indefinite term as it might or might not include such items as depreciation. Last March the ufreetorg had paid out £2OOO odd. He thought the directors were not entitled to hold money which could lie paid out. 1 Messrs. T. D. Anderson, L. Mav,"and 1 '- C. Wriffht (the retiring directors) were re-elected withouf opposition, Mr E. Parrott was reappointed auditor, In returning thanks for a compliment paid him by .the re-elected directors the chairman said the Season bad been phenomenal and they had been fortu- ' nate in getting the licst of the market At one time in the autumn they had put off £SOOO or £6OOO worth of stuff at about 14(1. They ]jad not yet dis- f posed of this year's output, but tic .1 offers were very good—a great deal ahead of what was offering last year.