OAKURA DAIRY COMPANY.

Taranaki Daily News, Volume LIV, Issue 99, 17 October 1911, Page 3

OAKURA DAIRY COMPANY.

AX'XI'AL .MEETING. The annual meeting of the Oakura 1 Jjtiry C<)iii]iaiiy war, held in tlie Oakuru Hall yesterday afternoon. Owing probably to the inclement weather there was not a very large attendance of shareholders. Mr. G. A. Adlam, chairman of directors, presided. HE-PORT A .YD P>A LAXCE-SHEET. The thirteenth annual report and balance sheet, as already published in the Taratiaki Daily News, was read, and in moving its adoption the chairman said that he resetted that the total amount of milk received was only 4.!M0,1i541b., a decrease of 455,10!11b. compared with the previous year. This was the lowest supply since 1!)03. when it amounted to 4,54r2,5141b. This was due partly to the abnormally dry season. and also to the fact that a number of suppliers had sold their farms, and that the new occupiers did not milk last season, but he hoped would do so this season. As they had sold their output well he had hoped for a record t supply and that the cost of manufacture would have decreased, but owing to the small supply it had gone up from l.T7d per lb to 1.83(1. The winter supply was so small that during June and July it hardly paid to run the factory, as it cost from 2'/id to 3d per lb. plus the overrun to manufacture; consequently the winter suppliers gained rery little by the high prices received. He pointed out that last season it was expected that consignments would be as good as the previous season, but owing to the heavy Australian shipments and large stock 3 of English and Irish butter in store, expectations were not realised, and fac-, tories that consigned did not average more than 10% d per lb. They therefore had reason to feel satisfu'd that they 1 had sold at IP/id instead of risking the 1 market: and notwithstanding the decrease in the output and increase in cost ] of manufacture they were able to return ! suppliers IOJGd for the year, a record < for the company. The overrun for the i year increased from 11.20 per cent, to } 12.74 per cent., and at the end of the | c present year he hoped to see it at least s 15 per cent. There is no reason why it s should not be so much and yet make a j good article. He also referred at length r to the satisfactory position of the Egmont Box Company. Ltd., and the Tara- 1 s naki Producers' Freezing Works Company, Ltd. In the latter the whole of j their share capital, amounting to C2GO. had been paid up out of profits, and j, was being held as a special reserve fund; and, in addition, £lB fis 5J had been' allocated to them in cash and distri-) bnted to the shareholders. The Egmont j Box Company had also made a consider- j s able advance during the year, and the [ a price of boxes was still kept down to 0 Is per box. The company, like the j, Freezing Company, was entirely the pro- t perty of the Taranaki dairy companies, and without it they would probably be ( ] paying Is fid for their boxes. He referred to the fact that the company had been fined through incorporating too ! much moisture in the butter. Mr. lieid, who was manager then, had since re- " signed. Mr. J, Windelburn, manager of the Makahu Co-operative Dairy Com- 1 pany. was appointed manager, and was 11 giving every satisfaction. Since Scptem- ' her 1 not one box of second-grade but- , v ter had been manufactured, a feat which r had not been performed in September 1 since 11X13. He also thanked Mr. Shogren, manager of the Timaru creamery, for his economical management; in fact, that c ereamerv had never had a better manager. ire reierred to the fact that the , fuel account had increased .C+-I. This was chiefly due to the fact that the tur- '! bine had broken down, and for nearly ten months they had had to rely oil J (■■team power. A new turbine of an up- j ' to-date make was being installed, and j ' lie hoped would be running satisfactor- j ilv in a few days. i v

The directors had purchased a small pasteuriser similar to the one at present in use, and the manager hoped to pasteurise the whole of the cream this year. This should greatly improve the quality of the butter, and if successful and the output increased, a larger plant would probably be installed. 'Referring to the prospects of the season, he pointed out that they were satisfactory. The directors had sold their output up to April l for less per cent, commission. equal to If 7-Hid net. Consignments may possibly realise more, but in view of the labor troubles at Home ami the possibilifv of war, the directors thought it was not in their best interests to risk the market. All that was now required was a good supply of milk and a good overrun, and with careful management there was no reason why they should not be able to return shareholders between lid and liy 3 d for their butter-fat during the season. Mr. T. Smart seconded its adoption. Air. Smart said that, reference to the balance-sheet of 18!W) showed that it cost. L.id per lb to manufacture the butter, whereas now it cost I.S3d. This was a considerable advaiu-c. and jfre wanted to know what caused it.

The chairman pointed out that that was the year the company was started. They bad no creameries, and all the plant was new. Moreover wages had gone up nearlv 25 per cent. In reply to Mr. Telford, the secretarv said the cost compared favorably with other factories of the same output. The report and balance-sheet was adopted. ELECTION OF DIRECTORS.

There was one vacancy on the directorate. and two were nominated, viz., Me>Ms. G. A. Adlam, the retiring director, and T. P. Smart. Messrs. Windlcl.urn and Shogren were appointed scrutineer-. and the voting resulted: Mr. C. A. Adlam 37, Mr. T. P. Smart 13. Mr. Adlani was accordingly declared reeled ed. .Mr. C. I'. Mills was re-elected auditor. GEXERAf, Some discussion ensued on the delay eaii-nl in installing the new turbine, and the expense the company was incurring in fuel on (lia.f, ii'vouiit. The chairman explained the cause of the delay. ami intimated thai, the turbine should be running satisfactorily in a few days. The position in which the skim milk weigher had been erected a!-o caused adverse comment. —The chairman said that lie- directors at last meeting had decided lo have the weigher removed to another site. Mr. Ilcaley brought, up the question of directors' remuneration, lie pointed out that they only received 5s per meeting. anil had to drive some distance lo town. Mr. P.lackhaM asked if it was necessary that they should go to town. Colli,l not the meetings be held at the factory':- Xo action was taken. A hearty vote of thanks was accorded Mr. \\ iudleburn for hi- management of the factory. Mr. lelford explained t ml the main reason for ...s resignation was because hi- • nn-idered (L.it it. was in I lie best iu- - ..! !;, •• •' Timaru should lev." :i ! i preseniniive on the diri e'urate.

Sonic di-eiissioii ensued on the qttcslion of paying interest on -dare capital, bni no decision was arrived at. A! a meeting of director- held subsequent lv Mr. 0. A. Adlam was re-elected chairman for the eighth year in succession.