WAITARA-TARANAKI DAIRY COMPANY.

Taranaki Daily News, 2 September 1915, Page 3

WAITARA-TARANAKI DAIRY COMPANY.

SEVENTEENTH ANNUAL MEETING. The seventeenth annual meeting of the Waitara-Taranaki Dairy Company wa-s held at the factory, Waitara Road, yesterday afternoon, when Mr. J. H. Smith, chairman of directors, presided oyer about iifty suppliers. REPORT AND BALANCE-SHEET. The directors, in submitting the report, regretted the incidence which had caused the increase in the prices received for the company's product. The unfortunate crisis in the world's history caused butter, with other products, to realise high prices. At the beginning of the season, it almost appeared as if greater difficulties would have to be met in regard to shipping, but, under the circumstances, a good service was maintained. Unfortunately, owing to the necessity of finding a new market for casein, a much smaller quantity ' was manufactured this season, but with the brighter prospects now before them, an assured market, at an enhanced value, had been found for the coming year. The quality of the output had maintained its usual high standard. During the year the directors acquired the freehold of the creamery site. The building and plant had been kept going up to the necessary requirements, but it was found advisable to enlarge the cool room, and this work was in hand. It would be necessary for the company to take up some 200 further shares in. the Box Company, so as to enable the necessary development of the business to go on unhampered. The following statistics were given, the increase over year being given in parentheses:—Milk received 0,075,032 lbs (503,4091b5); butterfat 417,5601bs (30,7471b5); butter made 48G,2071bs (34,5511b5J; advances £20,740 0s (£2,850 _l7s 6d); balance £3489 ]s 8d £1374 13s 3d). The over-run was 10.44, and the average test 4.G. One-third of the butter was saltless.

In moving the adoption of the report, the chairman said that it was unfortunate to have to state that the increased prices realised had been by reason of a disastrous war. While all regretted this, it was their duty to the Empire to continue that which had been begun, and assist the Mother Country by producing as much butter, cheese, meat, cereals, etc., as possible. It was pleasing to note that there had been an increase of close on 1G tons in the quantity of butter manufactured, whilst the standard of quality had been maintained at its usual lugh level, and lie read reports from the Home agents in support of this. With the increased output, there had been an increased cost of manufacture, due to higher wages being paid to the staff and the increased price of material. The additional cost of freezing was due to storage charges, and produce not going away as regularly as usual. The buildings and plant had been kept in an efficient state of repair, and it had been found necessary to enlarge the butter and cool room to cope with the increasing output. The additions should serve for some years to come. During the year eight shares were allotted to new snppliers. The directors had purchased the creamery site, and now owned the freehold of both properties. The whole costs—land, legal, and survey—were £4O odd. Owing to the fact that casein was not in much demand, the prospects at the commencement of the season did not look bright, and the supply of milk for its manufacture fell away. Sufficient casein was manufactured, however, to assist in establishing a market in London, and there was there an assured market at an increased price (fid per 1001b skim milk) for all that could be produced, and it was hoped that the 1915 output would be a large one. He referred at some length to the. operations of the Box Company, and stated that at the new ratio of shares the company would require to take nip 205 shares, (J4 of these beingdnc to increased output. They would then have a total of Sfifl shares. The directors had thought it prudent to write off a depreciation beyond the usual Jd reduction. The amount written off was £258, being the balance left from the surplus after providing for a further payment of 2d per lb butterfat. Total payments would then averago 14d, or 13.00 d to be correct, which, lie had no doubt, would be considered satisfactory. Prospects for the coming season's output appeared particularly bright. Enquiries for butter had been very keen, and, although it had been decided to continue to consign, this did not prevent the directors from making a sale should they deem it expedient. Messrs Joseph Nathan and Co. were again handling the output. For the first time on record the bank overdraft would be within the limit of some £250, when the bonuses were paid out. llr. F. Y. Andrews seconded, and the motion for adoption was carried, with very little discussion.

ELECTION OF DIRECTORS. Messrs F. Loverklge and W. Hall, the retiring directors, were re-elected unopposed. Messrs Pcreival and Messenger were re-appointed auditors. patriotic funds. In commenting on the report, tlio chairman said Hint (lie amount snbscribed by the company for eleven months from the last annual mecthi:' until the end of July amounted to £224 lis'2d. There was still the August amount to be added. This would be about what was estimated at last annual meeting. The '•bullet" fund appeared to have dropped out, and the necessity had since arisen for assistance for the wounded soldiers and sailors and their dependents, and it would be necessary for them to say if they wished to do anything collectively in the same manner as hist year. But, whatever was done, tiie poor unfortunate Belgians should not be forgotten. On the motion of Messrs Ma els a.v and R. Wells, it was resolved that the company again contribute Jd per pound of its output to the patriotic fimik hull of this to be (I.voted to the Belgian Fund and half to the Wounded Solders' Fund. All amendment, by Messrs fi.iwe find boverid.To that the matter be left for th< directors to decide at the end of the ?\ison was defeated. Some discussion ensued as to the ad visibility- of giving the wounded soldiers' donation in a lump sum, should the need arise, instead of paying it monthly and the matter was finally left in the'directors' hands to arrange as deemed necessary. GENERAL. On the motion of the chairman iii.d Mr. Hall, it was resolved to transfer the sum of ,CS2 J7s (Id now in the suspense account to the property account. Votes of thanks were a x-ordecl the re thing directors and the .>tatf. The directors' fees wen ugam fixed at 7s Cd per meeting, and the chairman's honorarium at £2O. CHAIRMAN. At a subsequent meeting of directors, Mr. J. H. Smith was re-elected chairman,