TARANAKI PRODUCERS FREEZING COMPANY.

Taranaki Daily News, 31 August 1915, Page 7

TARANAKI PRODUCERS FREEZING COMPANY.

ANNUAL GENERAL MEETING. The annual general meeting of the. Taranaki Producers' Freezing Works Company, Ltd., was held at the Town Hall, New Plymouth, on Saturday afternoon, Mr. A. Morton (chairman of directors) presiding over a good attendance of. representatives of shareholding factories. ANNUAL REPORT. The annual report of the directors stated that • the year was commenced with a balance in store of 7775 boxes of butter and 42 cases of cheese. There were received during the year 166,435 boxes of butter (being a decrease on the previous year of 1097 boxes) and also 92,714 cases of cheese (being an increase on the previous year of i cases); 139,285 boxes of butter were shipped to London, 1050 to Vancouver, 32,393 to local and other oprts; 78,116 crate 3 of cheese went to London, 6686 to the West of England, and 631 to local and other ports, leaving 1482 boxes of butter and 7323 cases of cheese in store on June 30, 1915. During the past year the storage capacity of the works was fully required. In order to provide for future possible requirements, the directors have decided to again enlarge the works, and these enlargements will be available for the coming season. The balanco to credit of profit and loss account is £ll6B 12s 2d, and the directors recommend that a dividend.of 5 per cont. be paid on shares fully paid up on Juno 30, 1914, and that the balance be carried forward.

The chairman, in moving the adoption of the report, said that although the year had been an ewmtful one for the dairy industry, it had not bean particularly so in so far as this company was concerned. It would be remembered that the balance-sheet for the previous year did not show a very high rate of profit, and that it was only a, comparatively small /balance they had to'carry forward. It was intimated that in ail probability the freezing chargea would have to be revised, and this had been done, with the result that, owing to the increased rates which had been paid by the companies, they had a very mucii more satisfactory balance-sheet to put before the shareholders. It was true that during the year they had had a considerable amount 6f worry, by reason of the fact that at times their produce was delayed on account of shipping being disorganised, this being due to the war, and had it not been for the fact that enlargements were made to the works some years previous they would have been in a very awkward position in regard to the storage and handling of their produce. Fortunately the blockages did not last for any great length of time, and although the works had been taxed to their very utmost capacity they had proved just sufficient to accommodate the butter and cheese that came forward. The directors, in view of the fact that the trouble was not yet over in regard to tho possibility *of blockage in shipping, had thought it wise to make still further provision for storage, and a contract, representing an expenditure of about £4OOO, had •been let for additions which would in- j crease the capacity of the works by about 10,000 crates of cheese. Eegarding tho question of handling cheese at a lower temperature, in accordance with the resolution passed at the annual meeting twelve months ago, this had been done. He considered it was a wise decision on the part of the shareholders, that it had been in the best | interests of the companies, and that it enabled them to put a much better article on the market. So far as shipping for the coming season was concerned, he said (here had been a feeling among some of the dairy companies that they were golnft to be in a worse position than was the case last year. Personally, however, lie did not anticipate any serious difficulty. Drawing attention to tho balancesheet, which was a particularly satisfactory one, Mr. Morton instanced a number of items in connection with the management of the works which showed a reduction, and this, he said, was due to the manager, who, whilst maintaining the highest efficiency, had, by careful and economic management, been able to effect considerable saving. He formally moved the adoption of the report. Mr. Morrison seconded the motion, which was carried without discussion. ELECTION OP DIRECTORS. On the motion of Mr. Knowles, seconded by Mr. Gray, the retiring directors, Messrs R. Dingle and J. S. Connett, were re-elected. Mr. Rennell was re-appointed auditor at a fee of £lO 10s. The chairman was voted the. usual honorarium of .CSO, and lie and his. codirectors were accorded a hearty vote of thanks for their services during the past vear. GENERAL. In reply to Mr. Belcher, the chairman denied that the Patea people had been better served during the past season than those shipping through New Plymouth; nor, on tho other hand, had New Plymouth been better served than Patea. He was confident that both works had received just treatment during what had been a trying period. A hearty vote of thanks was accorded to the manager and stall', Mr. Morrison briefly acknowledging the compliment. Mr." I!. Dingle was appointed to represent the company on the committee which is being elected to confer with the National Dairy Association on the question of shipping. The chairman referred with satisfaction to the reduction of l-16th of a penny which had been made in the freight on cheese, and which, he said, would represent a saving of something like £20,000 to the cheese companies of New Zealand.