OAKURA DAIRY COMPANY

Taranaki Daily News, Volume LVII, Issue 56, 27 July 1914, Page 7

OAKURA DAIRY COMPANY

AXXI'AL MEETIXti. Mr. \V. Honeylicld presided over an attendance of about thirty supplier* at the annual meeting of the Oakum Dair. Company in the Oakura Jlall on I'rnlay. hi moving the adoption of the annual report and balance-sheet (already published) the chairman congratulated shareholders on the results of the past season's operations. As the period under review was for nine months only a comparison with the previous balance-sheet would hardly be a fair one. Though the weather conditions during October, November and December were not quit, .ni that could be wished lot, yet on t,ae whole the season had been an excellent one, and the butter manufactured for the nine months under review was equal to the previous twelve months. The) had, as things turned out, good cause to congratulate, themselves on having sold last year at M%d Lo.b., as the best returns for consignments during the past season had not averaged more than lid per lb. In all probability the same policy would be. adopted next season, but it was much too early yet to form any idea of how .prices will be. They i hail returned the suppliers an average 'of 11.88(1 per lb of butter-fat, which was I a record for the factory. The prices for i winter butter were exceptionally low I this year, and consequently the cost of | running during the winter months was considerably higher. If they were to charge the full cost of running to the winter suppliers, the rate of advance they would receive would not be sufficient to pay for winter dairying, and consequently the directors must allow a small portion of th ecost of running during the winter to go against the I summer supply. He spoke at length on the steps taken during the year to improve the marketing conditions, and of. tin! scheme discussed at Palmerston Xorth and fully reported in the News. He did not think that it was likely that the scheme would be carried into working order in time for next season, and before another year had passed, they would probably meet the committee set up at Palmerston North for the purpose of discussing with them whether they should join the proposed scheme or not. lie commented on the item of fuel in the profit and loss account, which stood at .ClfH) His, as against £3lB 13s 4d the previous year. This was due to the fact I that the turbine which had been orderod from England prior to last meeting had I (been installed early in the present year, , and the five months it had been used had effected a considerable saving in fuel.: Coal had increased several shillings per ton during the last few years, and firewood was practically unprocurable except at an exorbitant price, and though a little coal for steam purposes would still be required, it was hoped that next year the fuel account would show j a still greater saving. In concluding, he thanked the manager (Mr. Penwarden) J and staff for the careful way in whichthe factory had been managed. The man-; ager had been with them twelve months.' His butter had graded well, and the reports on each shipment from the Home buyers had been good. So that, considering some of the material he had to., deal With had not been of the best, theji, must admit he had done well. He issued, a warning note, when he remarked that some of the suppliers did not seem to value a good name on the Home mart ket, and if they would persist in sending milk of an indifferent quality to the. company, the quality of the butter must I suffer, and so must the price, and those who were doing their best to improve

tlic quality of their butter by only sup,-_ |ilying the best milk, would bo compelled' to protect themselves by carrying a resolution tlmt in future payment lie made for milk on grade, a practice which was being adopted by a number of the larger factories in South Taranaki. ■ _ -,i This was seconded by Mr. Telford.'. ■' In answer to Mr. Telford, the scene-, tary stated that comparison with the j four largest butter factories in Taranaki showed that Midhirst. with 800 tonsj and an over-run of 17.82 had paid out' 12,(i.")(l; Stratford. 589 tons, over-run Ui. paid out VIAVX; Moa, over-run 17.G, paid out ll.OSd, and Mangorei, over-run 15.1)5. liGd. This was considered very satisfactory by shareholders, more particularly as the Oakura supply was drawn from a large and scattered district. Mr. McAlhim considered that the cost of installing the new turbine should have been taken out of the year's profit and loss account, instead of being charged to capital account. Mr. (\ Ifoneylicld agreed with this. None of them, lie said, were anxious for the bonus to be paid out right to the' limit. The balance-sheet was then adopted. ELECTION' OF DIRECTORS. . ' Mr. G. A. Adlam, the retiring director.

was re-elected un-opposed . Mr. 0. T. Mills was re-elected auditor; MOTUROA-OPUNAKE RAILWAY. A letter was received from the West- j orn Taranaki Railway League, asking for | a grant of £lO towards the general funds of the League. Mr. G. A. Adlam, as chairman of the local branch of the League, considered that as the district had already contrb [buted £5 towards the funds of the,' League it would meet the ease if the company subscribed another £5. On the motion of Messrs IToneyficld and Telford, it was resolved to leave the matter in the hands of the directors, the understanding being that the company's contribution is not to exceed £5. CHEESE v. BUTTER. The question of manufacturing cheese instead of butter was discussed, but no action was taken. AMALGAMATING WITH OKATO.

Mr. McAUuni brought up the question of amalgamating with the Okato Dairy Company. The Timaru suppliers were in favor of this, as was shown by the fact that in one afternoon lie had obtained tliu support of owners of BIM) cows on a petition into Okato for that district ask'ing to lie taken in. Personally he would like to see the whole company join Okato. Okato paid out ViM this season. Mr. 0. A. Allium said that at the time of the Okato factory lire they hail asked Okato to consider the question of amalgamation, and erecting their factory at Timaru, hut they would not consider that. Personally, he favored amalgamation of factories along the coast, because the bigger the supply, the/ cheaper the cost of manufacture, butt lie did not like the idea of carting eieam'! to Okato and then having tile extra cost of carting the butter back again over the matter. Mr. C. E. lloneyfield supported the proposal. If the company did not amalgamate! with Okato, they would lose, most of their suppliers. A number of shareholders favored the proposal, provided the factory was I situated at Timaru. The chairman said that if there was any amalgamation at all, he was in favor of the whole scheme. ;Mr. Telford said that undoubtedly the more milk a company handled the better the factory could pay out, but there were many other things to consider.

After further discussion, the cliairm:i!i. mid Messrs T. W. Telford. \V. MfAlluin, (!. A. Adlain, \V. ,T. Linn, an 1 the seretary were appointed di legate- in attend tl»' annual meeting of iln '■;,.-, u> Dairy t.V'iq.anv and ascertain <>u v, :-a t.nn's Hint company would agive In the nroposed amalgamation. \"jnm n-'-cipt of their report, an c.\lt:.'>rdiiian general meeting will be ca!h-d In di'-eiiss. the mater. ELECTION OK cIIAIKMAN". At a subsequent mei-luiL' of directors, Mr. W. Honoylichl v. a- unanimously re-elected chairman.