STRATFORD DAIRY COMPANY.

Taranaki Daily News, 1 August 1916, Page 3

STRATFORD DAIRY COMPANY.

ANNUAL MEETING. ' (From Our Own Correspondent.)' Stratford, Yesterday. The annual meeting of the above company was held this morning, Mr. 11. Dingle, chairman of directors, presiding over an attendance of 80 shareholders. The chairman, in moving the adoption (.if the annual report and balance-sheet, wM.'h has already been published, said he.vas disappointed at such a small attendance of shareholders. He signed 2"i4 cheques every month, and he felt that those who were not present that day were not doing their duty to their company. He, however, welcomed the shareholders who were present. Tliey had had a favorable season, from a dairyman's point of view. The increase this year was no less than 115 tons, and the price was 2Jd more than the previous year. This, of course, meant more spending power. The quality of the butter turned out by the company had. been of the very best, and they were fortunate in consigning their butter to a firm who advised them to send only unsalted butter, which realised better prices than salted. The bad flavor had caused the directors and manager some concern, and ho advised them tc take notice of the quality of the milk supplied. With regard to cow-v-sting, he asserted it would pay every dairyman to test his herd, weigh the milk, and weed out the "robber" cow, and the increase in production would be phenomenal. Referring to the war tax, he said the price of everything produced had gone up, and would go up. He could assure them that a person earning over £IOO a year would be taxed, and would pay it for many years to come. It was therefore, up to them to produce all they could to meet this taxation. The difference in production off the land, even in their own company, was not so much as it should be. Taking land of equal value, both in quality f rid soil and price, there was a. difference cf £4 to £S per acre. Referring to the financial position of the company, he said that some four years ago they were free from debt, but had now practically exhausted their share capital, and had very little share capital payments com'ing in and something would have to be done tn enable the company to meet its Labilities. Shares had been taken up in the Egmont Box Company and the Moturoa Freezing Works and no provision had been made to meet these liabilities. He thought that the basis of lfinlbs if butter-fat per share should be* reduced to 1301bs as formerly, and then these liabilities might be met by the increased capital. The increasing cost of horse feed and excessive cost of carting cream would need to be seriously considered by the incoming directors; probably the purchase of a motor lorry or lorries would meet the case.

During the year, a new boiler had been installed in the main factory, while the freezing plant had been taken down, and re-erected, but the foundations at the main factory were getting rotten, and he hoped the incoming directors would continue to renew same in concrete until the whole building was finished. Wages had increased, and last year, the directors had given all the employees a war bonus of 10 per cent. Freights had risen from 2s fid to 3s 9d per box, amounting to an increase of £1720, while butter boxes increased by 3 S 4d oaf/h. He thought the directors were deserving of credit for the way they had carried out their duties for the shareholders. The policy of the directors in consigning, instead of selling outright must have meant hundreds of (■dditional pounds going into the pockets of the shareholders. PERSONAL ne noticed in a paper "The Parting of the Ways," and he would like to say that he had represented the company for 14 years as a director, and 13 years as chairman, and had taken a very keen interest in dairy companies. He had given the best of his life in the interest of the farmers and was proud of it. irl'e had attended all the directors meetings, and had represented them on the Egmont Box Company and the Moturoa Freezing Works, and had never missed a meeting, nor could ■ any shareholdei say that he was ever late, or that the suppliers' cheques were not signed in time. He was sorry to sec a number of the old directors retiring, and he hoped the shareholders would put men of commercial ability on the directorate. He moved the report and balance-sheet. Mr. S. J. Rawles, in seconding, congratulated the company on such a successful year. Mr ,T. Paul considered the valuation of the Toko plant was too high, as they could instal a new plant for less than the price put in the present plant.

The chairman said that if the meeting decided to further reduce the amount, the directors would be pleased to carry out their instructions, but it must be borne in mind the money would have to come out of their pockets. Cries of no! Let it stop on paper. The motion was then carried.

It was decided to do everything possible to facilitate the. movement for the ?i.ipply of calves' veils, AGRICULTURAL INSTRUCTION. A long discussion took place on f't matter of giving a donation towards '-i.j services of an agricultural instructor. Mr. H. Trimble, chairman of the Education Board, briefly addressed the shareholders, and eventually it was decided, by 40 votes to 11 to grant £3O. PATRIOTIC HELP. Mr. J). J. Hughes, on behalf of the 'New Plymouth Ladies' Patriotic Committee's scheme for sending butter to N'ew Zealand soldiers in hospitals at the front, 'wrote asking for a donation towards the object.—lt was decided to leave the matter in the bands of the directors, with power to act. ELECTION OF DIRECTORS. The election of five directors resulted as follows: 1!. Dingle 42, j\l. T. Phillips 3!). P. Ranford 34, F. CI. Faulder 30, H. Watson 20, H. X. Silk 20, F. Styles 23, W McCullmish 21, D. Blackstock lfl, J. Mcßride 13. IT. Johnston 11, If. O'Neil 11. The first four were elected. A second ballot was t. ken between Messrs H. Watson (40) and H. N. Silk (22), ami resulted in Mr. Watson being elected. Messrs. Dingle. M. T. Phillips, and ]?. Ranford were elected for three v ears, Messrs. Watr.on and J. G. Faulder for one year. Mr. Dingle thanked the shareholders for returning him at the heal of the poll. Mr. T. T-T. I'enn Was re-elected auditor. The chairman was voted an honorarium of JMO and £25 war bonus, for his services. Votes of thanks were passed to the retiring directors, the manager, and staff, and secretary.