MAKETAWA DAIRY COMPANY

Taranaki Daily News, Volume LIV, Issue 88, 4 October 1911, Page 2

MAKETAWA DAIRY COMPANY

ANNUAL MEETING. The annual meeting of the Maketawa Dairy Company was held in the store room of the Maketawa factory on Monday night. There was a very large at- ! temlance, the room being crowded. Mr. J. I'rown (chairman of directors) presided. REPORT AND BALANCE-SHEET. The report and balance-sheet, as already published, was read. In moving its adoption the chairman •said tha.fc he did not know whether he could congratulate the company on an increase of suppliers or on the quantity of butter turned out during the year. They had lost one or two suppliers, but this was not the main factor ill reducing the output. It was the dry autumn that had caused such an immense falling oil'. In going into figures, he found that nearly two-thirds of the supply had been received during four months, and after that it had dropped rapidly. Most ' factories had suffered in the same way. He did not think the prospects this year were too bright, as grass was short and the cows were not doing as well as they should. He pointed out that only during one year of the company's I<6 years of life had they paid out as well as during the past year. Last season they had paid out lid, and he contrasted this with the modest 7y 2 d. that was paid out in the first year, a vast improvement. On the whole, he considered that they had done very well. Last year everyone was keen on consignment, and Maketawa came out as well as any factory. Last season the cost of manufacturing butter fat was per lb, as against 1.17 for the previous year, and of butter I.3Gd as against 1.24 last year. Their butter last year realised: Export 10.3d, local 11.6, an average of T0.84'8 per lb. He pointed out that the cost of fuel was 26s per ton of butter produced. One hundred and eighty-four cords of wood had been used last year, as against IGo in the previous year. Their fuel was rapidly vanishing, and although they had called tenders on several occasions, there had been no response, and he prophesied that at the main factory they would shortly have to face a coal bill. Fortunately at the creamery there would be ample firewood for several years, but in the lower part of the district it was extremely difficult to secure any. The quantity of butter-fat produced at the main factory was 203,6571b5, and at the creamery 58.1831b5. The average test was slightly better than last year, being 3.!>5, as against 3,!)4. He referred to tlie satisfactory position of the Freezing Works at Moturoa, which was the property of the different companies. The works were practically started on an overdraft of £16,000, which was now reduced to £IBOO. In view of the talk of strikes, the directors had deemed it wise I to double the capacity of the works at a cost of £3400, so that two months' sup- I ply of butter and cheese could be stored. No strike would last longer than that. He pointed out that there would be no trouble unless there was a strike among the maritime people, but the question had to be faced, because in these days of federation if one strikes all would strike. lie considered, however, that even if there were no strike the extra accommodation would be required in a year or two, when the Home liners would berth alongside New Plymouth wharf, and the greater bulk of the produce would be shipped via New Plymouth. He also referred briefly to a new departure, viz., the nomination of directors prior to the annual meeting, which ke considered a wise move, Referring to the present season, he intimated that this year the directors had sold 75 tons for and | the balance at an advance of ll%d with- | out recourse up to the end of May. It I was a difficult matter, in view of the various rumors, for the directors to know whether to sell or not. He. knew of several factories last year which had over-sold and had then to make up the quantity from their winter supply, and had lost money in consequence. If the season iwere a bad one, the same might occur again, but by selling only 75 tons they liad allowed ample margin, and could sell or consign the balance as they thought fit. He considered that the prospects were bright for butter and cheese. Cheese people had had a. good innings during the past Ave or six years, and the trend of events showed that the greater portion of New Zealand would be making cheese in a very short time. The future would prove if New Zealand were wise in going out of butter for cheese. Those that remained in the butter industry would get the benefit of enhanced prices, because if the quantity were not produced the price must go* up. The cables had shown that the first shipments consigned were realising very high prices; whether they would do so later was hard to tell. Since last annual meeting the Durham road creamery had been opened and had proved very satisfactory. He pointed out that four directors were required to be elected, as Messrs Marshall and Sole had resigned owing to having given up milking. They had worked with heart and soul and hail done their level best for the factory, and he wag sorry they were severing their connection.

Mr. A. Marshall seconded the tion.

Discussion was then invited. None, however, was forthcoming, and the report was unanimously adopted. KLECTiION OF DIRECTORS. There were seven nominations for the four vacancies on the directorate, viz., Messrs J. Brown, Frank Dodunski, Abel 1!. ('lamlin, T. H. Jones, John Rlckard, F. P. Hodges and J. V. Hall. Messrs Crane and Thomas were appointed scrutineers. The ballot resulted: —Gamliu S+, V. Hall 33, T. H. Jones 28, .J. Richard i">, Brown 25, Dodunski 15, Ilodge 14. The chairman and Mr. Rickard thus tied for tlie fourth seat, and the chairman acnrdinglv gave his casting vote to Mr. Rickard, and declared the first four elected.

Mr. Riekard pointed out that, Mr. Brown had had more experience than lie had and deserved the position more tlian he did. A lady supplier's shrill voice interjected: "I object to Riekard!'' (Laughtoir.) Mr. Brown said that the suppliers wore evidently tired of him. "He was prepared to stand down. He had been either chairman or member of the directorate since the company's inception sixteen years ngo. Still'he did not lind fault with the suppliers for their decision. He had done his best, and hoped the gentlemen elected would not do worse. Matters then a.pipeared to kave reached a deadlock. It was generally felt that any other chairman would' hare given his casting vote in accordance with custom, and Mr. Brown would thus have retained his seat. After some desultory disQusai'on on the pros and com of tho position. Mr, Ricktrds offered to tender |his resignation on condition that a ballot ivas taken by the meeting to decide as to whether he or Mr. Brown should lie recommended to the directorate. Tli is was agreed t». While this election was in progress, Mr. A. Mnrsliall occupied the chair. The same scrutineers were appointed, and the election resulted: J. Brown '25, J. Riekard 24. Mr. Brown said that he still felt like backing out, as apparently suppliers still wanted a change. However, as he had agreed with Mr. Rickards to abide by 1

the result lie would do so. He thanked I all those who had voted for and against l him. Ffo had not done anyone any harm | and did not intend to. lie had devoted ' a lot of time to the factory business, lie then gave soine wholesome advice. Personally he did not like the remark that was made outside the factory that Mr. Pereival was "running the show." He did not care what was said about him as chairman, but he could bear witness that Mr. Pereival never expressed an opinion unless asked, and whoever took the chair would find no better man in Taranaki than Mr. Pereival to go to for advice. He also urged the directors to be loyal, and if beaten in anything to support whatever was carried by the majority. It would be throe years before they would have a chance to put him out again, unless by petition, when he would at once resign. In conclusion, he proposed a hearty vote of thanks to the staff.

Mr. Pereival said he was not aware he was running the show. It was run by the directors. He was put in the position to work to the best of his ability. That was all. He was not paid for running the show. He never went beyond the directors' instructions. He considered that they were in for a good season, and pointed out that very few factories were run cheaper than Maketawa was.

Votes of thanks were accorded the scrutineers and the press. Mr. W. de CI. Ogier was elected auditor at a fee of £4 4s. GENERAL.

Mr. Simpson asked why a detailed statement of the cost of the creamery had not been supplied.—Ttie chairman pointed out that the cost appeared on' the balance-sheet, and various other details were supplied by the secretary. In reply to Mr. West, the chairman said that the creamery was run in the winter because it paid to do so. In reply to questions, the chairman said the directors had no objection to the press attending their meetings. The chairman asked for an expression of opinion as to whether the suppliers wished the directors to pay out as much as they deemed safe, or pay but lOd as now, with a bonus at the end of the season. .He pointed out that if they paid out to the limit from month to month the creamery suppliers must expect the interest to be larger.—Mr. West said that it was only quite recently he knew there was a bonus of Id to be paid. He had heard there might be a small bonus. Could not the directors have known sooner that there was a surplus of £1000? They had driven the bonus to the last leg, and a lot of suppliers had left and more would probably follow.

The chairman pointed out that the financial year only ended on August 31. In reply to a query it was stated, that the directors were paying out l,od. Mr. Corney proposed that it bo a recommendation to the directors to pay out 10'/ 2 d to the end of March.—Seconded by Mr. J. F. Dodunski, and carried, A motion by Mr. Simpson, that tally books be procured, as in vogue at other factories, was lost.

Mr. A. Marshall proposed a hearty vote of thanks to the chairman, who had steered the factory through many difficulties to the successful position in which it now stood. —This was carried unanimously, and the chairman was voted an honorarium of £ls 15s for the past season.

DIRECTORS' MEETING.

A meeting of directors was held afterwards. Mr. W. Corney was voted to tho chair. Mr. J. Brown was appointed to fill the vacancy on the directors. Mr. Corney then resigned the chair. Mr. Hamlin proposed, and Mr. Bridgeman seconded, that Mr. J. Brown be elected chairman. Mr. 'Brown suggested that it might be advisable to elect a fresh chairman. The suppliers appeared to want a change, and had directed it at him, as chairman. Mr. Jones said that he had worked on the directorate with Mr. Brown, than whom 110 man had a better general knowledge of the factory business, and it was ! their duty to have him again as' chairman. Other members also spoke eulogistically, and Mr. Brown accepted the positio*. The directors resolved to pay sup- | pliers 10y,d to the end of March. Suppliers will be charged 11 y,d for butter and non-suppliers Is Id. Any one director, with the secretary, was empowered to sign cheques. i lhe meeting day was fixed for the ! first or second Friday in the month.