RAHOTU DAIRY COMPANY.

Taranaki Daily News, 30 July 1915, Page 3

RAHOTU DAIRY COMPANY.

EiiillTll ANXI'AI. MI'.I'.TIX',;, 'J"h.- eighth annual nicctims of the ilabetu Hairy was liuM at the Huhi'lu factory yesterday, when Mr. \Y. C. liivon. I'.hairman of din (tors,'presided over an at temrar.ro of about thirty-six -haiclloldol-. The ic.-oit for t!.,. year ended Mav :':l. H-'le. noted thai; -at! -;':u tory re-ulls had attende-l the year's worki'ii!;'. The amount to u'eJit or' .profit and loss accent on ih-iug the hooks mis .Clli-I!), cm i>. wki.h ciii, 17s si had been write i! "'' iu f '- ,vvl ' depreciation of the compLe's pn;; ,■:'": Icavmg a. bala-nce of ;C(-(i:;m in- lid,' of wli,;..' tUe <>"'•£ tors propo-cd to n.pnly .CI3O lis So in payment of lir.cre-t at j per eent. per annum on . f, r'U' j.aid share;, and !::;MU IS,. li,| in a i';irfi;cr ',",;. ,'uiciit of .•i'/.d I' 1 ' 1 ' "' oil butter fat supplieri during the y.-iir. iiaving n bnlamo of CSO l'.is !!il to ii.e carried forward to nexi viar, or otherwise dealt U'illi. The proposed payment--. would L ;;ke rt ,j attual ]>ayment to sii;-,pdici-s of approximately 15i.,,l per ill battel- fat over tlie whole period, in addition to hitere.-t on capital; also providing for depreciation ami all expenses. "" The directors had had a larger boiler installed at the laetory. and n, new onginei'oom 'built. It. was hoped a.ll increased, cflifier.ev of plant, together with a reduced can.-.i'im-p----ti.m of fuel, would -result tlicrefrom. It would be m-essary to eUvt three director's 111 place of Mcs-ys. Sole, James and Cicon. who rotiied in rotation, and were e'igihlo for re-election. It haw been deeideil that nominations for ollieo of director must be in the hands of the chairm-an three dear (lavs before the day of tlie meeting.

Tlie following stati-tics f,. r (l".c war ended Afay .?.!. 101.-,, were submitted:--Milk received, 7,:!.->2.(!i:Vjl,; cream received. .>.l7;2'ib; butter fat (dhee.-e 255,:K.V1> butler 2«.f)Ml'b), 251.4201b; average tot! il.fil; <.hee>o made—factory weights lies 2'/. per cent.). oWM-ii;;!,; b,rttcr leade from -tarter, whey and (.renin. USlUlb: weighl of ohooio per lb butter fat—iaetory weight (less 2'/, ]<er cent.), 2..,..ih: average, price received per lb encese- laotcry we:g!',t (less 2'/, per cent.). 7.18.1: butter making—butter miiiie, 25.f)2-Cib; overrun. 13.25 per cent.-, average .price received per lb butter fat. liSTxl; average price advanced per lb butter fat, ll.Slid; average price —butter, creamery sri.ss. waev', SC.d7; average grade—elieesc, f>9.73.

lii moving the adoption of tlio anniiul .lvpnrt and bakn:e-fhcet. the cJia'rmau stated lip would not sav muki about the lialanee-sihet, which spoke for its-eil. I.Vferr'iiig to the installation, of a new boiler, he. stated tluit Hi is was rendered necessary, as since the installation ~f .tin; pasteuriser the old boiler could not core with tilic work, and utilised 4(i per cent, more firewood than did the larger boi'er, which was certain to ray for itsc',f in tJie coming year. 711 ie average grade was nearly ill.'as against S3 last year, all being' first grade, fo that they had benefited by pa»tein-W,np. .Snlarie-=. no doubt, appeared high, boin" £108!). as against £Bl2 last year. Tlij'l was partly due to the fact that but year's balance-sheet eoverc.il only eleven roontlw, aNo to the fact that'salaries of the majority of fcbe bands flair lieen iiiCM'cased owing to tile cost of Ihirio pwing up. and tlie pasteuriser bad necessitated an extra hand. He pointed out that there was a good deal of stock hi bniid when the 'books were e'oswi. This had not been over-valued. 'By valuing it higfher. they might have paid out a little mere than they did, but it was not considered wise to value too high, as anv «uro!us could be distributed later. -Mr. .1. f.awn seconded.

Jfr. I'. U'ilteox conuueiited on the fact that: IJu- fuel account was £572, as ajram~t C 377 last year.

Tin- chairman stated that, fuel bad pone ii[i in price, roughly, 10 per cent. Tliis year wan twelve months, as pgaim-l eleven the p.n-.vions vear, ami, moreover, the wlio'.e of the' mi lc hail been pasteurised. This etvn.sumod more firewood, but sup pliers liad bewi lorn-pen.-ated. in in much as mo milk had been .-cut home.

In reply to a. question, the eivaimian stated that the new boiler was twenty horse pewer. and tile old one only fourteen horse power. In ciiscussioii.'it was pointed out that the output the second year wa- between ESiifJO and £!MXK), whereas it was now £-21,000. Several suppliers expressed the opinion thai a sti'li larger boiler should have 'been installed, as there was every probability, that it 'WonVI be required in a. few vear-.

A further discission envied on the increased salaries.

In reply to it question, as to whether anv benefit had been received for tile £lo donated to the Railway League, 'Mr. OiU-on ~=aid that, undoubtedly, they would ultimately gel a benefit from it.

A supplier took exception to ?.."> per eent. being written o(T the whev butter plant, lie considered its life'should be six or seven years.

The chairman sjrid that it was better to depreciate this plant, heavilv. as experience Improve) it did 'not last, tliat time, 'Moreover, it was pointed out th.n.t pn-te;irisin<i- t!:e milk greatly reduced the quantity cf whev butter, as there was not so much fat lost ill the cheese ns previously. The report and balance-sheet were then adopted. RT.ROTICW OF DIRECTORS. The t-liairma.il notified that, in addition to the three who retired bv rotation. Mr. T. 'Willcox -had that day resigned hi.- -e;it. distend of filling that vacancy, a.-, they had power to do, the director, had decided to ask the shareholder, to elect fc-ur directors. He announced that, vi urinations bad been reeened In«,i Me-~rs. C. Sole., P. .Tames. W C. Crcen (ret';!Hi!f directors), V. Wiiieox. -en.. a,nd Wright. Some discussion Mien ensued over the rule that nominating mu,t be handed in three day, beirrehand. members considering that that icnnsidoraibly limited ti:l choice.

The chaimia.u ruled Uiat no alte-a-tion eonid l)o allowed. KharehoMere Jvad l>as«erl (lie resolution at a previous nioetintr and must abide by it. Mr. Sole. v\%o whs 'not present, wrote that ho did not intend to seek re-cloc-tion. and and Will, on were declared eleeted. Mr. TI. Stoeker Has re-elected auditor. TIIK TK*T S'JiKKT. Mr. T. I'lendi)? referred U, the p>ac tier- tll;'t h-i,, adopted of putting tllO Mi-ptfier - * iiumW. in-toud of liLs name, n.B?ain,st the (est M.eet exhibited ii, t:'.io fiwiory v.iudoiv. lie did not like the idea of a -.ooret fooVtv. and he moved that the name should bo .substituted for the lUßl''».. Mr. Will. u\ crponded.

The ehii.iniia.il H.-iwiderorf the resolution out of order. Some suppliers misht nn( object to their names boin<; published, bul rtilicrs miaht. and thov Kill a riaht, 1,, bo considered. In fact, he thought. s could compel them to v.ithlitml thei,' names if they So dosired. 'Mr. C'tsoa thoiv<i|,,f. if vvoirltl bo bettor to make a. rooommendiiUon to the directors. Tie a.DToed that, supplier-* had a lcsaJ right in the .mjiitltcr. 'Mr. Tyler d-.d not object to their cro-n supplier, wHui bV tesV. but ■]„. ()]) . .looted ti outsider■ 'a !;■-.■ . : y e to act tSie 'i-fonr-iiHi"!.

After luir.ther discussion, it was resol veil, on the motion of Messrs. \Yrighl ami Uibson, that tlie. directors lie vovo;::iin nded to consider putting up Ik' nnnio. .SHARE CAPITAL, Mr. Tyler .moved in accordance '.villi notice of motion that a. special mcel'ng he lield on a date to :>e fixe.l by tlie direcli,rs -for the purpose of aitirin;; (lie articles of a-'-ociation. so ih to provide that each supplier shall ludd one share for eiii.h We!) of bnlte" fat. in [dace of 1701b. as a,t present. I.Mr. CiliMjn, in. suivporting, pointed nut that the majority 'of the o'd -npphor-

al/eadv held sull'ieient shares, as thev liad a'fa-rtli-imr per pouml butter fat deducted. This motion would put all jr. an eijual basis. RIRKCTdiiS' TIOYOIIAKIt'M. The chairman wa-s voted 011 honorarium of .C2O. .ind the directors .I'll >';s Mr. ("libson, in inoving an aiiiendiiiei;t that the directors he paid £:! !< sinlvd tha-t he looked on the po-utioa of {'il'Pt-i"'' i,s iln lioniir mill a iirivileg.-'. 'lt ii'il'i V'"' 111 ''' 1 °" l ' tllllt tllf »>eeting ha;l' jiower {,; iiS : .'"' 'lire-tors- r-nni r-CTation for ike future. iM'r. (ii-kson accordinely jnoieil {hat the (ih-airmnn lie paid .CM per annum. and the directors 7s Cd per mooting. A motion that consideration of the matter be deferred till next annual meeting was carried, on the motion of Messrs. Croon aaid IP. YTillcox. OKYERAL. It was resolved to pay the secretary a, bonus of IM2 12s. The mover pointed out that the wo'T- had lonsidcrah'v mcreaseTl, owing to s]i.ippin<r half and' consigning half. Several ■shareholders objected to the bonus on principle, ipointing out that it was ,fW bettor to definitely iiiiTP.isc the salan- i,f neee.s.s ; iry. The chairman stated that the dir-c-l tors ha~ recognised f,he work <l;o,ne by i the secretary, and had decided mi 'a ! higher s-iilary for the ensuing year. j It was resolved to carry forward the I balance of the sarp.lus. ' I