LEPPERTON DAIRY CO.

Taranaki Daily News, Volume LV, Issue 75, 15 August 1912, Page 7

LEPPERTON DAIRY CO.

ANNUAL MEETING. The twentieth annual meeting of ehare- | holders in the Lepperton Dairy Company was held in the Lepperton Hall on Tuesday night. Mr. 11. B. Lepper (chairman i of directors) presided over a good attendance. The report and balance-sheet for the ten months ending June 30, 1912, were, on the motion of Messrs Atkinson and Cartwright, taken as read. The milk received during the year was 3,324.8201b, producing 137,752.7621b of butter-fat. Butter made amounted to 158,9G011». It took an average of 20.911b of milk to make lib of butter. Each lib of butter-fat made 1.1541b of butter. The average test was 4.14. Out of the surplus of £SBB lis Sd the directors proposed to pay interest at the rate of 5 per cent, per annum on share eapit*! subscribed to August 31, 1911 ( £SB f» 4d); to make a payment to suppliers of 9-lOths of a penny per lb of butter-fat for the season ( £5lO Us 6d), and to carry the balance forward. Suppliers would then have received an average of 11.813 d. or, including interest, a little over 11 9-lOths of a penny per lb of butter-fat for the season (practically one shilling). During the period Mr. Crowe resigned his seat on the directorate, and j the directors appointed Mr. Ackland to fill the vacancy. Two directors were required in place of Messrs Lepper and Ackland, who retired by rotation, but were eligible for re-election. The balance-sheet showed that during the ten months receipts had totalled £7597 3s 4d, the principal items of which were butter sales anad in stock £7575 19s sd, and butter-milk £l3 Kis Bd. The expenditure showed advances to suppliers £6203 13s 7d, 'wages, etc., £206 19s 7d, boxes, paper, fuel, repairs, etc., £325 17s lOd, selling and administration £137 lis Id. After writing off for depreciation £75 Bs, there was a balafice of £SS7 3s 4d to transfer to the surplus account, which showed a credit of £SBB lie Bd, and was dealt with as shown in the report. In moving the adoption of the report, the chairman remarked that he thought all would agree with him that it had been a really good season, considering that they had sold their butter. Had they consigned no doubt they would have done better. He pointed out that this balance-sheet covered only ten months, and interest would be paid on share capital at the rate of 5 per cent, per annum. He was very optimistic I regarding prospects for the coming season. So far the directors had not disposed of the output. Buyers, he remarked, were tumbling over each other [ to secure any output, however small. The Vancouver trade caused buyers to offer better prices, whilst the foot-and-mouth disease at Home would make butter prices much harder, and some exedptionally good prices should be obtained. It was a sure sign when so many buyers were after the butter so early in season. Already at Inglewood this week they had had as good as Is offered, but if they were going to sell they wanted more. Butter factories that had consigned realised from 12% d to 12% d per lb. Personally, he favored selling, because then the directors knew what they had to receive and what they could pay out. This was much more pleasant,;for„ the- directors than to be: doubtful what to advance throughout the year and perhaps at the end of the season to deduct something off. During the year Messrs Openshaw and Hamblyn had visited the Box Company's bush near Taihape, aild were highly satisfied with the operations. Referring to casein, he remarked that since the meeting to discuss the matter nothing had been done, and they would wait until they had received the report j of the Government expert on the question. He had visited Aramoho, and thought-.there could be nothing more up-to-date than the casein factory thereThey had Jiad.an 'offtfr'Troiri the firm to give t&<frri t%d per lb for butter-fat for casein if the companay went in for a precipitation pant, and the firm would i also pay half the railage on the greeiv casein to Aramoho. viz., 10s per ton. 'lie thought that any factory which took the casein out of the skim-milk was on a par with factories- that manufactured cheese. In fact, a co-opeVative concern would pan out better, and the by-product was also equal to whey. The cost of a precipitation plant would be £l5O. | -Mr. v Surman seconded the motion. I which was carried without discussion. For the two vacancies on the director- ' ate there were five nominations. Messrs Garcia and AV. Roberts were appointed scrutineers, and the election resulted as follows: —Messrs TI. B. Lepper 72, Ackland 32, Hellier 22, Paul 12, and Eustace 8. Messrs. Lepper and Acldand. the re- ' tiring directors, were declared elected. Mr. M. Hopson was re-appointed auditor.

The chairman spoke in eulogistic terms of the services rendered by the manager, whom lie considered the company were particularly fortunate in possessing. The record put lip by Mr. Roberts showed that in 1910 he was first at Moturoa and for the Dominion for the average grade, in 1911 second at Moturoa, anad in 1912 first, again at Moturoa. Mr. Roberts, in returning thanks, referred to the co-operation lie had received from the suppliers. The chairman referred to the importance of cow-testing to the bona fide farmer.

The manager (Mr. W. Roberts) remarked that he had given much thought to this subject, because he felt that the, time had arrived, now land and labor were so high, and it was necessary to use artificial manure, when some systematic method of cow-testing should be undertaken. Some of the suppliers tested their cows once or twice a season, but this was not sufficient, as the cow that showed up best early in the season might not prove the best all through. lie had paid a visit to Stratford and had interviewed Mr. Fulton, the Government tester, on the matter, to see if the testing couldi be economically undertaken, and had received considerable information. Tn fact, as a result, lie estimated that for an outlay of £l2 lie could -test each supplier's cows once a month throughout, the season. All it would be necessary for the supplier to do would be to weigh four milkings per month and take a sample for -testing. Roughlv, 7<K) cowh supplied the company, and the cost would work out at 4d per cow.

Suppliers were unanimously in favor of testing, tlie chairman stating that it would be well worth anyone's trouble, anad thanking tlie manager for volunteering to undertake tlie extra work. A vote of thanks was nnnnimonsly accorded to Mr. W. K. Percival, the companv's swi-ary. The nieeiing concluded wilh a'Varty vote of thanks to the directors from the suppliers, whom the mover, Mr. Atkinson, characterised as a happy hand. At a subsequent meeting of directors Mr. IT. 11. Lcpjier was re-appointed chairman.