LOWGARTH DAIRY COMPANY.

Taranaki Daily News, 10 September 1915, Page 3

LOWGARTH DAIRY COMPANY.

ANNUAL MEETING. ; The eighteenth annual meeting o? Hie Lowgarth Dairy Company was held in the factory yesterday, Mr. E. A. Gray, •chairman of directors, presided, and thcro was a fair attendance of shareholders The annual report was as follows: Your directors have to repore tt successful season, quite apart from the war prices that have been realised. The unusually dry spring that so adversely affected our neighbours to the south had a much lighter effect on our milk supply, which totalled close upon that of the previous year. The working account balance of £4086 15s 5d should allow for a further payment of 2%d, making a total of 18% d. The large quantity of cheese in transit has been valued at (} ! / s d per lb. f.o.b. Shareholders will note that the writing-off of values of buildings has been exceedingly liberal. Cheesemaking. Milk, 9,440,W11b5.; test, 3.87; fat, 30G,1981b5.; cheese, 9854971b5.; whey butter, 10,flillhs; lbs. milk to lib. cheese 9.55; lbs. cheese to lib. butter fa, 2,69.

Butter-makiirg.—Millc, 92,5701b5.; test, 4.09; fat, 379111b5.; butter, 46011b5.; lbs. milk to lib. butter, 20.11; lbs. butter to lib. butter rat, 2.69.

The chairman, in moving the adoption of the report and 'balance sheet, said the average test was the same as last year, but the supply was less, owing to the dry weather experienced in the "summer. Consequently the output was short of 20 tons. The bank overdraft was a little more than last year, .but that was because the company had purchased land, and it had not been included in last year's balance sheet. Tha shares in the Egmont Box Company wouTJl have to be increased, but the erst would be spread over for two years. Fuel had gone up, and as the land is being cleared, will cost more. The company had donated, %-ton of eheese to the Patriotic Fund. The prospects for the coming season were good, and he predicted that .prices for the coming season would be as good if not better, than last year. He formally moved the adoption of the report and balance sheet.

This was seconded by Mr. E. J. Fearon. ■

Mr. B. Booker asked how the overdraft was to be paid ofl'. The' chairman said the money had been spent in purchasing the section and making additions to the butter room. They proposed to pay off so much each year till the amount was paid off. Mr. Booker wanted to know if the Box Company was a good proposition for the company to put money into. The chairman said the company were getting very little good out of the company at the present time, but it would be a fine asset in yea© to come. The company had enough timiber dn sight to see them through for the next thirty years.

Mr. Booker: "They have pitched us that fairy tale for years." He asked why the directors' fees had increased from £29 last season to £56 this year, The chairman explained that the directors' fees had 'been increased from 5s to 10s per meeting, and ,12s 6d when the meeting are held away from the factory.

In reply to another question, the chairman said it had cost £l2O to instal the water supply, at the factory. As to whether all the cheese had been sold, the secretary said that most of the cheese that was at present just landing in London had been sold, and there was another 500 cases on the water, and that would be disposed of as soon as it arrived. . |M>|ssy> Mr. Seidel wanted to know why the storage charges had increased, The chairman said the reason was that some of the shipments were hung up owing to lack of steamers to take the butter home, consequently, the cheese had to be stored much longer, hence the increase. ° '

Mr. "Fryday: Is if not a fact that some of the cheese, after being stored for some time at the Moturoa Freezing Works had to be railed to Wellington ? ' The chairman: That was last year, when the strike was on.

Mr. Bourke wanted to know if the' scales for weighing the milk were correct.

The chairman said he had heard no complaints, so far, this season so he presumed they were alright. ' Mr. Bourke contended they got more milk at one scale than at the other. The chairman said the directors had tested them and found them correct. The roporfc and balance sheet was then adopted. Mr. T. Hall said the shareholders had received £7OOO more money for their output than they did last year, and the employees' salaries had been increased in consequence. - The chairman said at a conference of Directors of Dairy Companies held lecently it had Been decided to raise the salaries of all their employees 5s per week, with the exception of the managers. The chairman said that before the election of directors, he would like an expression of opinion from the meeting, as to whether he should continue as a director or not, unless he had the confidence of the shareholders he did not wish to hold his position a minute longer. The meeting decided practically unanimously that the chairman should continue in office.

Messrs. Ross and iUcHahon were reelection directors, and Mr. J. H. Thomas was re-elected auditor.

The usual honorarium of £SO was voted to the chairman.

Hie chairman said several suppliers had spoken to him regarding the independent hand testing. He made inquiries and found that the tester for the Stratford Dairy Company would test the suppliers' herds for '2s per cow for the season, providing lie was assured of 400 01 .")()0 cows. He 'hoped the meetins would carefully consider the importance of Inning the herds tested. Over 400 cows were promised in the room, and was decided to start operations at once.

Mr. X. B. I'ryday was elected delegate to t .jo btiatford (Patriotic Committee. A vote of thanks to the manager and stall' terminated the meeting. At a meeting of directors held after the annual meeting, Mr. E. A. Orav was re-elected chairman.