MOTUROA FREEZING WORKS

Taranaki Daily News, Volume LIV, Issue 58, 28 August 1911, Page 7

MOTUROA FREEZING WORKS

ANNUAL MEETING OF SHAREHOLDERS. Tlie annual meeting of shareholders in the Taranaki 'Producers' Freezing Works Company, Limited, was held at the Town Hall on Saturday. Mr. A. Morton, chairman of directors, presided. There was. not a large attendance. The annual ireport, as already published, was read. In moving the adoption of the report and balance-sheet, Mr. Morton said that there was not a great deal of matter for comment. The year's working had l>een, as in the previous year, of a highly satisfactory nature. The quantity of dairy produce handled was less than that of the previous year, but still very much in advance of that of the year before. They were all acquainted with the cause of the falling off. Up till Christinas they had received more produce than ever before for that part of the year, but after January, owing to the prolonged spell of dry weather, the quantity, fell oft rapidly. And in order to miike the deficiency still larger, after March'.many of the dairy companies sold' their' output on such terms as to necessitate,, the stuff being railed direct without passing through the works. Otherwise tlie returns for the year just ended would still have exceeded the previous year's. Again, the quantity of butter held in cool storage this winter had been remarkably low.

Mr. Hodgson: Where did that butter trust store its butter? (Laughter.) Mr. Morton :_ The butter trust exists only in J the imagination of certain members of Parliament.

Mr. Morton, continuing, pointed to the steadily diminishing expenditure, particularly, in tjie consumption of coal. Two years cost ,€448, last year and!' this year £307. This showedi.that 'twere jpijst be very careful supervision 'at/the-tworks, and reflected great, ' cjreuHtJ.'.'on . tlie, manager and engineeri,'.' Tli.c'tyrejetors were endeavoring to obtain a ; bc'jtter source, of supply of amnionic''asl'jincfimpany with the dairy compaWjS, tWeJj? w? experiencing great diffiefftfj/ in , 'pui|i'mijng good ammonia. With'pje stufi iimv.nscd there was considerable' y&W"j The receipts from freezfta diminshed, due to the re'djucuon 'in,tlie -charges as decided at last ajnflpj )p.cting. Mr. (Sref'seconded the chairman's motion. ~; I I , In ansWr'fp the chairman said tile reason why .butter companies \ were digger dividend than j cheese^' coiiipaiiies "was because butter i paid 4d a box-, or 13s 4d a ton, for freez- I ingv and cheese only.'jtsr 4d a ton. Profits I were allocated proportionately.

' Mr.b'Matyellbfl»id' r 'ttfe'-Wnioiint of dcpreciatioiiif and plant : seemeriotoribeOsmliil. ■ .iMr.fMfaitbnffoifftl tnat :: thpsc who were acquaitubrifc witthT'ifcHe 'works and who i were familiar with the manner in which th&.maehmery was kept, would recog>'nise that She depreciation was sufficient, ,iliaDos/!of'!'upkecp were bn/iThe machinery ,'Wa'S freq-nj}ntis<i ifiipiwedr-and splendidly kepi. He' wished the shareholders would visit the works nrorc -frequently, bo as tfo'see thi§ for -themselves.

1 The, repprt b,alan,ce-sheet were "The 3oll^rjg, l( r | esolu.t;,on from the -directo« (i^i s,aj{vi) with respect trf|%Mi - es j w,h;ch are not fully .puifl of June, 1911, "theVdirect'ors oe recommended to require 1 payment of the amount unpaid by instalments rpf £1 per.share payable at .intervals qf not more than six months, .Sfndqthat after tlie end of the current financial jvedr <(Soffl JWity Wl2) all fully paidMirrj'sTkiPslsiii tlftVodhipany be entitled to interest !.-ot'i3ii.:'i?at«::iu/t)r'e.\"<-eeding 5 per cent! pemannuinl'/ ni

-in-Miessrs. W. Swadling"ii>ml T. O. Hodg- ' Mm: 'were re-elected to the directorate. MtviC S. rS'iincHn-as- reappointed audi•t<m at tlii? usual remuneration of ten (guineas, . ivsr ~,,. >k .,,". - : ■■Volejj, 1 p l j f,h.a^kf ( }Ye,i-.e ; rn.cconled to the staff- far, tf(e given and rresifl'ts;,p|^aiiif;d Miri ';/,;,,' n ,i!,liU ■ I)">gle;;refCTr^ ot to, Jl! jhe,,..sfiCTetary, l , Mr.: Jr.uSliMcKellar.'as a most competent and courteous officer, who did his work l Jiiithfully grid. .we 11.., .The shareholders (j.wcmld with, pl.en.s.urc..place on record rtheift appreciation of the services of th.eir, SMe<ittf if Si 'friend-Mr. Alc■KeJliiir W compliment. „.-TDe iffl<»rl'n l arilraria I,J w l cre' granted t» ,ph,?-«iiMbrl'. 3 ' , ' :91 ; •."•-"-,' ■•■", , AMa'silb.scqtfen't'ln'eetin'g Mr. A. Mor-rtot),->vas re'elected.chairmari of directors. ,'I ll'll dj-IIURJ .ft,. -., .