NORMANBY DAIRY FACTORY.

Taranaki Daily News, 4 August 1915, Page 5

NORMANBY DAIRY FACTORY.

ANNUAL MEETING. the .Norma aby Co-operative Dairy Factory Company held its annual meeting on Monday afternoon, when Mr. J. S. Riddle preside. l'-0 report mid balance- sheet >i..jvvt-[l that for the past six months v j,e»->ie prices had been abnormally bisliy. Owing to the scarcity oi steamers,hmvcicr, some of the cheese had nut vet left Xow Zealand, so tlrat for, balaiicc-shcet purposes estimates of value had been made on conservative iine.i. Out of the balance in ham], it v.'as proposed to pay fonrpence on August butler fat. Wing, ing the payment up t 0 Is Id, ii:c.fetu>c ,the payment for aulimm butter fat -to Is fid. ami average M ie pay out on :l-ee!ie fat up to '1 3 7d over the season; pay interest to shareholders at 4 per umt., and hold the balance until such time as all account said u'eri> received from London. The, payment on account of butter fat, and twoneec - c.i of tkeew fat, to 'he r,ts.!e at the general tncft.'u", the payment to be i;.: cut as fluids accrue. The ehiiifmaii, iu mo ving the adaption ul the report and' 'balance nhce',, 'eongra.tu'pfed the shareholders on i\o sue-

fi-s:, of the part year. Produce realised tiw.'-nJous prices, 'owing to tile Empire 'being plunged in I,he woivi. v.'»r the wrl'l ha.l ever known. The d.".v : on to a! to"/ half per cent. towards the r.tr funds, to be deducted from monthly cheques, was ineffective when t-.tsscd; if the decision had been arrived at a month later, effect could have been given to it, the law having been amende/l to meet the cn«e. The output was shipped on open consignment. Shipping was much disorganize:! at the time, and thinps began to ' ,ken disagreeable shape, owing to the authorities taking boats if or transport. purposes. The exertions of the X.uhmal Dairy Association proved el'tiotive in keeping freights at the lowest j)o 1 n i:. until May 31, by which time must of the cheese,had been shipped. War insurance promised at the time to be heavy, but the action of the British f-Vivunnnent -would not allow the amount I o go over 3 per cent., so the company got off with 41s. About ninety-seven crates of cheese were on the ill-fated Tokoinaru, but the ajnouiit realised on this consignment was better on an average than that yielded from the next three boats. As mentioned, tilings did not look too bright at the beginning of last season; boats were blocked ,and produce could not be shipped, and money was not available for suppliers, but the agents came to tile rescue with funds, and the bank ultimately gave satisfactory finance on signed guarantees. Mr. Kiddle further warned the shareholders against looking for big advances next season, as there was sure to be a shortage of boats, and produce might have to be held up and stored for a time. "Above all things," he concluded,, "bring good milk to the manager, and lie will make a Urst-clas-i article." Sound cheese will keep far better than inferior stuff. It Jsatl been said that sharp milkers were the chief offenders in regard to inferior milk. The loss conies out of their pockets, However, as well as the.ir principals.--(Mr. Ganei They don't see that.)—-Anyhow, it would be well for suppliers to impress upon the share milkers that, they would have to pay for returned milk. In6tructions#had been given to the manager to advise supplier* when milk was returned by share milkers. Owing to the dry spring an<l autumn, it, was thought that the company was likely to have & bad run, as against last yew, but n comparison of figures might be found interesting. With eleven tteya shorter cheese period, two tons more cheese were made, and 119311) less milk had 3.8051b more butter fat. Starter butter, 650911) at Is, £325; whey butter, rS.3Blb at Is, £!>1<); wages £IOB4. Tlie Bltlrnm Bacon Factory Company made a call on shares, which ea.ll did not come out of butter fat, interest being paid out on same. The motion of the adoption of the report and 'balance-sheet, which was seconded by Mr. 0. Preston, was unanimously agreed to. During an interval, Mr. H. D Forsyth (chairman of the South Taranaki Bacon Factory Company) addressed the meeting in reference to the company taking u.p further shares in his companv. He j pointed out the opposition to" which! his company was exposed. Many outside buyers were giving a penny a pound more in Taranaki titan elsewhere to secure business, 'but they were only enabled to purchase at the increased price by the low prices they were paying elsewhere. With the removal of such opposition as his factory set up. it would be enlv a matter of time and low prices would prevail in 'Paranald also. Mr. Forsyth answered all questions without hesitation, showing a thorough knowledge of his subject, and the meeting ultimately agreed to take up the shares oil the lines proposed. A kvlbn for two directors resulted in the re-election of Messrs. .T. S, Riddle and 0. >S. Hunger.

ft was also agreed, on the motion of Mr. Clement, that the chairman's bonorarimn should be C'iO .for the ensuing year, eulogistic reference;-, heiny; made to the services ol Mr. Riddle. Directors' fees were fixed at Ids per meeting. ■Mi'. <\V. 0. Callaghan was appointed auditor.

On thn motion < f Mr. (\ Preston, voting by prnxy uas :vl»o!islioiI. it lioir.ij considered tliat holders Were e\pe;ted to attend nl least o!iee a venr, Mr. J. S. Jli.Mlr n'jtri < liH'fed (.•liairnum of directors tor the ensuing year.