DAIRY COMPANIES.

Taranaki Daily News, Volume LV, Issue 92, 4 September 1912, Page 6

DAIRY COMPANIES.

RAHOTU. The tinmial meeting of the Rahotu C.iiry Compauv was held at the; Rahotu i'actory on Friday lust. In the absence ~f the'chairman" (Mr. A. F. Chapman), , Mr. Gibson presided over a good attendance of suppliers. The report and bal-ance-sheet (which has already been published) was adopted. For the three vacancies on the directorate there were only three nominations, viz., Messrs W. C. Green, C. Sole (retiring directors) and W. James, and they werf! declared elected. Mr. A. F. Chapman, the retiring chairman, did not seek re-election. The proceedings passed off very enthusiastically, suppliers appearing well satisfied with the result of the season's working, as was evidenced by the act that the suppliers voted a bonus of £lO 10s to the chairman, £3 3s to each of the directors, and £7 7s to the secretary (Mr. H. Bailv). At a meeting of directors afterwards Sir. W. C. Green was elected chairman. T. L. JOLL CO-OPERATIVE COMPANY. Mr. J. B. Murdoch presided over an attendance of over a hundred suppliers at the fourth annual meeting of the above company at Kapuni last week. In the course of his address, he stated that i the season had concluded with an increase of over a million pounds of milk in excess of the previous season's supply, despite the low supply in October and November. The directors at the beginning of the season had received a very tempting offer, equal to an advance of 6s per cvvt. on any previous prise, and had accepted a straight-out sale. They had paid out 14 7-lGd right through the season. They felt justified in accepting the offer made at the beginning of the season, and though other companies may have done better on consignment, they took the risk. Referring to the financial position of the company, he considered that it would be better to pay the .Toll estate right out and make their own financial arrangements with the bank. In regard to their liability of £101)0 odd to the Refrigerating Company, he pointed out that the company had" never had to pay any calls out of cash. These were paid out of profits made by handling the several dairy companies' produce. Originally the company handled two-thirds butter and one-third cheeße. Now, however, the proportions were reversed. The Refrigerating Company received 14s for butter and 4s 5d for "cheese, really a non-paying price, but necessary to compete with Moturoa. The T. L. Joll Company had purchased a section at Kapuni and a nice farm near Okaiawa for £65 per acre. Formerly they had paid £3 per acre rent for a i 50-acre farm for grazing, and he considered that it was better economy to pur- \ chase, as it was good value. The Box } Company shares were fully paid up and that company, had established a reserve fund, which would return dairy factories 20s in the £ when their bush was cut out. During the four years they had averaged considerably over Is, and their future appeared to be considerably brighter. If the Opunake railway were formed along the route suggested by the Commission it would reduce their carting charges by half . He urged suppliers to go in for cow-testing, and where a sufficient number was prepared to do so. the company would find men to do the testing. He also referred to the proposed enlargement of the scope of the Eltham Bacon Company. In reply to questions, he said that if • thev had consigned instead of selling outright they would have gained about i I li/jd. When thev decided to go in for i I whey butter he heard that there was y 2 d j profit. Experience, however, had proved !that if they made it was as much as they Should get. —Abridged from Hawera Star.

KAUPOKOXUI DAIRY 00. The report presented at the annual meeting of the Kaupokonui Dairy Company's annual meeting showed very satisfactory results. There was a solid increase in the butter-fat, the cheese, the butter, the test, and the ratio of cheese to fat, due more or less to the Cow-test-ing Association and the weather conditions. For the coming season the prospects for prices were very good, and a largely increased supply was assured. The fine new concrete store "building. 00ft by C»f)ft, had been completed and was now in full going order. The turnover had increased to over £25,550, an increase of 25 per cent, and shareholders might well be proud of a business which had been so successful and on account of which they bad never subscribed one pound of capital. The question of continuing the Cow-testing Association hitherto carried on by the Department of Agriculture was submitted, with a strong recommendation from the directors, as was also the advisability of embarking on the handling and marketing of pigs in conjunction with Eltham, Mangatoki and other dairy companies. Plants had been installed at all their factories for the purpose of separating the whey, and the expenditure had been a most profitable one, the factory having received from whey and starter butter nearly £OOOO for the nine months' working, or equivalent to 0.73 of a penny per pound of fat additional to former years, without any apparent effect on calves and pigs. The following statistics were attached to the report:—Milk, 51,814,4591b5; fat, 1,95fi,60(i1b5; cheese, 4,874,149]b5; butter, 1.1(1,1,02!lis; butter (whey), Ss,lG3lbs; cheese to fat, 2.0511; milk to cheese, 0.00; average test, 3.77. The appropriation account, after writing off £I2OO / s 3d for depreciation on properties and plant, showed a surplus of £25,301 2s 4d, out of which was paid: Interest on shares at 0 per cent., £880; a further payment for milk of threepence and one-tenth on all butter-fat supplied from September i to •Tune 30, absorbing £24,177 4s 3d, making the total payment for the season 15.35 pence, and leaving a balance of £303 18s Id to be carried forward.