OMATA DAIRY COMPANY.

Taranaki Daily News, Volume LII, Issue 230, 3 November 1909, Page 4

OMATA DAIRY COMPANY.

The annual meeting of the Omuta Go-operative Dairy Company was held on Monday night, when, owing to the very rough weather, the attendance of .shareholders was small. Mr. F. E. Morris, chairman of directors, presided. The directors' report was adopted as 1 follows:*—ln presenting their tenth annual report your directors are pleased to be able to report a satisfactory season and the payment of the highest price per lb of butter fat yet attained by the company. The balance to credit of profit and loss account, after making allowance for depreciation and providing for interest at five per cent, per annum on paid-up shares, is £282 3s, and out of this your directors propose a further payment of %d per lb of butter-fat to shareholder suppliers, which will absorb £220 12s, a-nd leave £55 lis to be carried forward or otherwise dealt with by the shareholders. During the year your directors have purchased some of the shares in the company, where ottered at an advantageous price, and by this means and the forfeiting of shares of non-suppliers—where calls made have not, been paid—the reserve fund has been increased by £BO I2s Bd. Your directors wish to' record their sense of the loss the company lias sustained by the retirement of Messrs. Matson and Hamblyn from the directorate. These gentlemen—the late chairman in particular—devoted a lot of time oml attention to the att'airs of the company, and materially assisted in bringing it to its satisfactory position. Messrs. Matthews and H;iyly were appointed directors until the annual meet- j ing, and they, with Mr. »Jury (who retires by rotation), are eligible and otter! themselves for re-election. I

Statistics' attached to the report contained information a% follows Number of nijlk suppliers*, factory to. cream? y 14; pounds of butter-fat, received, factory 75,280, creamery :]s,:h>7; butter made I23,ti7tilbs; butter made per lb of butter-fat, 1.121b5; average price per lb received for butter, 11.05 d; cost of manufacturing per lb (including depreciation and all expenses and pavnients), I.7Sd.

! The profit and loss account showed I that the advances against milk totalled £4577 Ills 4d, \yages and salaries' .£314 JBs Hhl. materials £157 3d, charges £•<>-. and interest on shares C 27 4s Id, the total expenditure being £s4!tf 0s Id. Receipts included £5704 18s 7d for butter sold and on hand, £ls 8s 5d for butter-milk, and £2B fls !)d profits from Freezing Works Company. The retiring directors were re-elocted, and Mr. C. T. Mill*' re-elected auditor.

A long discussion took place concerning the amount of payment which should be made to the directors, and a resolution was passed, fixing the chairman's honorarium at live guineas, and each director's at n maximum of three guineas.