NORMANBY DAIRY CO.

Taranaki Daily News, 5 August 1916, Page 3

NORMANBY DAIRY CO.

ANNUAL MEETING. The animal general meeting of shareholders wa:i held on Tuesday) lh. .1. 8. Kiddle (cliiiiriiiiiii of directors) presiding over a fair attendance. The directors' report mentioned tliat '.luring last season the Government took one-third of their output at 7.} d on a 2 per cent, shrinkage. Negotiations were being made between the Government and the representatives of the cheese factories a s to this season's output. Last season they were able to pay '•s 7-Jd. This season i s 5d had been paid ;to date and further payments will be made as the cash accrued. It was recommeivVj that interest be paid on shares at 4 per cent., absorbing £201) lGs (id The following are the statistics: Pounds milk. 13,41(1,370; lbs butter-fat, 500,715; average test, 3.77(1; number cows, 2105; number suppliers, GO; cost of manufacturing cheese, .4!); cost of manufacturing cheese (including depreciation), .54d; average yield fat per cow, 230. Used for eheose-inaking: Pounds milk. 13,140.005; lbs butter-frit, ■104,30.'!; lb s cheese from lib fat. 2,(107; cheese made (SSS tons), l,318,lilllbs; lb 9 milk to lib cheese, O.0S; average test, 3.750. Used for butter-making: Pounds milk, 206,474; lbs butter-fat, 12,322; quantity fresh butter made (0 tons 13ewt lqr,) 14,024 lbs; lbs milk to lib butter, 17.SS; average test, 4.02. The chairman congratulated .shareholders on. a very successful year. They had paid out ls'7-Jd, and the»e were, he believed, only two other factories who paid out more than that, and they were nearer the shipping ports. The company had a few more suppliers and a few more cows were milked, and they would notice that the average yield of'butterfat per cow had gone up considerably—from 100 to 230, He reminded the meeting that the Government last year commandeered one-half of their clreese output at 7:} d. No doubt the Government created a market at Home in so doing, and but for that fact they might not have, had the same competition, but comparing the price they received for the cheese which went Home on open consignment with the price paid by the Government they would have been '.£2-145 better off on that consignments on five boats had the whole been sold on open consignment. At the end of last June they had 501 crates in Patea: this year they had 004. [The secretary: The'last of that was shipped to-day.] They voiild probably have to face a rise in freights this year. At the prosoiit rate it amounted to nearly -jd per lb. above the normal. The shrinkage due to the cheese being heated in the stores in Wellington omnhnsjscd the' necessity for supplying good milk. Unless good milk was supplied it was impossible for the manager to make good cheese, and inferior cheese Iving about the Stores was very apt to develop flavors. He would esueeially caution suppliers to be careful in feeding turnips. They had e'onated half a crate of cheese per month to the Belgium Relief Fund in London; 201bs ol butter to the patriotic shop in Hawer.i, and also a supply of butter for the ladies who had charge of the patriotic refreshment rooms at the Winter Show. Shareholders would have noticed that thev had decided to join Ihe Eltham Bacon Co. providing 75 per cent, of the existing shareholders of the Bacon Company came in under the new scheme He (the chairman) considered that that condition Ind. been fulfilled, but other directors thought otherwise. Consequently it was decided to refer the matter back to the present meeting. Their cost of manufacture had increased from .4S to .4(1, and considering the condition of the labor market and the greatly increased cost of all material, their manager was to bo sincerely congratulated on this result. When re-arranging their share issue the Farmers' Co-op. Organisation Society had given the company the op tion of a refund of the money they had already paid in or of transferring it to another issue. Upon consideration the directors had decided to accept the refund. In conclusion, the chairman urged suppliers to give their manager every possible assistance during the coming- year. RENNET SUPPLIES.

The Chairman' briefly referred to the probable shortage of rennet and to the steps proposed to be taken in the formation, of a company to create a local supply He was of opinion that it would be advisable to pay as much as 2s (til each for veils. They must get supplies of veils. The Government vet. was prepared to give a demonstration if the company arranged a time and place. Mr Gane'proposed that the company give 2s Gd for each first quality veil. This was seconded and carried. ELECTION OF DIRECTORS. A ballot for the election of three directors resulted as follows: C. Preston •1024. B. C. Gibson 4051, S. Barrow 4:143, and J. Were 1770. The hist three were duly declared elected. DIKECTORS' REMUNERATION. Mr. Spratt moved that the company fix the chairman's honorarium at £52 a year; he was certainly worth that amount.—After a brief discussion the resolution was carried. The directors' remuneration was fixed at 10s per meeting, the same as heretofore. p,ACON cowp.i;:y.' The sharehold-■::. •:.*. tlri.- last meeting decided to join '■"■■_ '"iltlir.n liaoon Co., provided 75 per „::vt. of the shareholders in the Bacon Co, agreed to take up shares under the new conditions. There were twelve shareholding companies, and of these eight agreed to take up shares, and tln-ee declined, viz., Aiells. l'ihanm and Opunake. He (the chairman) contended that as Xormanby had decided to go in they therefore had the 75 per cent. o f subscribing -f. ctories, and that the conditions imposed at their animal meeting had been complied with. His co-directors held a contrary opinion, and the mutter was referred to the company's solicitor, who supported his (the chairman's) opinion. The other directors could not, however, see their way to concede the point, and so it was agreed to re-submit the whole question to this mK'ting. In a general discussion the resolution passed last meeting was referred to, and the chairman drew attention to the fact that it contained the following: "That this company agrees to take up additional shares . . . provided that 75 per cent, of the dairy companies in the concern take up additional shares in proportion to their output." He argued that the Xormanby Company, being then a share-holder in the Bacon Company and having agreed to take up the additional shares, was then actually in, and comprised a proportion of the 75 per cent. The chairman moved that they now adhere to their decision of last year.—Upon a show of hands the voting was: For the motion 11, against 17. A poll wa s then demanded, and the voting resulted: For the motion 30SG votes, against. 2590. The motion was therefore declared carried.

BACON COMPANY'S AMALGAMATION In reply to a question tin 1 Chairman said that there was something in the minor Hint there was to be an amalgalion of hacun companies. The proposal cnginatod with (he Waikato people and IJiinocks were putting £!)U,000 into it, 'i'lie minimum dividend on eapital invested was to be (i per cent, and the maximum S per cunt, and all profits over and above that were to be given back to tin; producers as a bonus on pigs supplied. There were to be ten directors, Dimock's having four, Klthuni toree, and Waikato three. Instead of having a dozen agents running around they would, under the amalgamation scheme, have only one man weighing in, and killing would be done at tlie most convenient centres. TURNIP FLAVORS. Mr. Cane brought up the question of turnip flavor. In latter years dairy fanners had largely grown soft turnip's instead of Swedes, and these, fed injudiciously, had a deteriorating e/Fect on their produce. If soft turnips were fed moderately and were carted out and allowed to wilt for a day in the sun they did not affect the 'flavor of the milk to any extent, but if fed indiscriminately it prejudiced the quality of their cheese on the Home market. 'The company's manager, Mr. Hoperoft, agreed that although excessive soft turnip feeding might not produce a. pronounced taint at the time of manufacture he believed the flavor developed later on and it was, therefore, wise that they should be fed very judiciously. If the turnips were carted out into the paddocks and the sap allowed to evaporate to some extent before feeding the cows on them, this would assist considerably. WAR TAX. Mr. W. G. Oane thought the National Dairy Association should be urged to protest against the Government's proposal to take 4."> per cent of their wsir profits. In taking one-third of their cheese at pre-war prices they had taken a big share of their extra 'profits, and (hey should not now come on them for another 47> per cent of the whole of the w.u- profits. The extra profits made by cheese people amounted to IS per cent, and butter 12 pei cent., but the wool people made fiO per cent., and it was unfair that the hardest worked fection of the farmers should be treated differently to the woo! people. Mr. Le Fleming considered that Mr. Gane had not fairly stated the ease. At the mcetii g of cheese people held in Hawera, they voluntarily offered their cheese to the Government for 7d, but the Government gave them more than they asked for. The 4."> per cent, on war profits proposed by the New Zealand Government was for their own Dominion's expenditure, and the price at which the Imperial Government bought their cheese did not in any way help the New Zealand Government. Mr. Gane ultimately moved in the direction he indicated, and the motion was carried, Mr. Le Fleming dissenting. GENERAL. Mr. Lonnon was appointed auditor for tlie ensuing year. The question of cow testing was held in abeyance in consequence of labor difficulties. The perennial trouble of suppliers taking more than their share of whey was •.gain mentioned but no action was taken. Mr. Were congratulated the directors mi writing off the depreciation they had lone, viz., 10 per cent, off plant and o achinery, and 5 per cent, off buildings. Mr. Gane disagreed. Their buildings could not now be replaced for anything approaching the value shey now stood at in tlie company's books, and should not hare been depreciated this year. The'clmirman mentioned that the company had this season made 3.1,0001b of •» hey and starter butter at Is 2d per lli ■ .CIA27. This was roughly £SOO more than their wages, so that it was a very good proposition. In reply to a question the manager slated that rape and kale flavored much more than soft turnips.—Star.