MOA DAIRY' COMPANY.

Taranaki Daily News, 7 August 1916, Page 3

MOA DAIRY' COMPANY.

ANNUAL MEETING. The annual .Ticeting of Hie Moa Dair.' Company was held at luglewood on Saturday, when Mr. T Bowler, chairman of directors, presided over a good attendance of s! areholdi vs. CHAIRMAN'S ADDRESS. Tn moving the adoption of tli» annual report (already published), the chairman congratulated shareholders on the very successful season, and voiced the pleasure of the directors in placing such a satisfactory balance-sheet before them. The pay-out exceeded the previous year's by 2 l-3d per lb butter-fat, which on the year's output amounted to over £BOOO. The cost of manufacturing and shipping at Moturoa was 1.43 d per lb,'as compared with Fold. This represented a saving of nearly £OOO. despite the fact that wages and ail requisites had gone up. Great credit •vas due to the manager for this result. Referring to the balance-sheet, he pointed out that wages were slightly higher, owing to a general rise in wages and to the fact that a war bonus of 5 per cent, was paid to all hands receiving under £2OO per annum. Horse keep a;ro showed an increase, due to the high price, of horse feed, and, in this connection, he would like the question of the purchase of a motor lorry to be discussed. Insurance also showed a slight increase, owing to the company having had to pay accident insurance on the value of all the perquisites allowed to the staff, such as free house, ( .el, etc., for the past five years. Export butter and local butter charges

«ere lower, the formet owing to the September and March butter locally, and the latter because the directors sold most of the local butter on the truck at fnglcwood, instead of f.0.b., New Plymouth. The total saving in this respect was £157. A saving was also made in fuel, owing to coal being used. As this was found" to be cheaper than wood, its use would be extended to tome of the creameries. Mr. R. T. Williams, in seconding, moved a hearty vote to the directors and manager for' the successful results. (Applause.) In reply to question, the chairman stated that from 7$ tp 10 per cent derrcciation was written off. He considered that the Moa was one of the soundest factories in Taranaki.

Mr. Williams congratulated the chairman upon the depreciation account. Tie considered that while prices were high they should wipe oft' their debit at the bank as far as possible, so as to bn prepared in case of depression.. Some discussion ensued over the store account, one member considering that the store should pay rent to the company. It was pointed out that the ompany" only paid £2 rent per annum for two acres. Mr. Egarr considered that the profits (£101) made by the store should be paid back to purchasers in the way of a rebate, otherwise those who had given

personal guarantee would receive no benefit.

The chairman stated that the first consideration was the creation of a sinking fund to pay off the bank overdraft; then the surplus could be refunded to purchasers. After further discussion, mainly in resard to the price of goods at the store, the report was adopted. ELECTION OF DIRECTORS. For tlie seven vacancies on the d'roct- . orate, there were eight nominations. All the roth-ins directors, with the exception of Mr. 11. A. Hunt, who has jlnft the district, sought re-election. Messrs. 0. E. Henwood and R. T. Williams were also nominated. Messrs. G H. Buckeridie. W. Haslett, P. Preo. and .1. W. Maekinden were appointed scrutineers. The election resulted as follows: T. S. Bowler 40!), M. McMahon 411 R. T. Williams 371. J. O. Taylor 300, H. J. Codd 303, G. Clongh 350. J. Staelmrski 341 (elected); G. E. HenWood 332.

Mr. M. Hopson was re-elected auditor at the same fee as last year £l2 12s); an amendment that the salary be increased to £ls 10s was lost. NON-PAYABLE CREAMERIES. The chairman moved, in accordance with notice of motion: "That in the case of any creamery of this company where the cost of running such creamery (exclusive of insurance and depreciation, but inclusive of the cost of delivering the butter-fat from such creamery to the main factory door at luglewood) shall exceed 0s per 1001b of butter fat calculated on the milk supply only, the milk suppliers to such creamery shall bear such excess pro rata in proportion to their milk supply, and each moil supplier's share of the excess ascertained as aforesaid shall be deducted f'-oui the amounts from time to time payaUi' I.' siua supplier in r.i.'pe.' cf his suptii;'" Mr. Je:il..ns seconded.

Mr. J). Todd favored the proposal jSon:e of liie oeamerios cost 0s Gd per lflflili butter-fat to run. Mr. R. T. Williams moved as an amendment that suppliers supplying cream should be paid '/ K d per lb more for their butter-fat than milk suppliers, and that creameries oe run as ■A present. It was well knowr that ■rream suppliers had themselves to bear the heavy loss of skimming. Mr. Deane seconded the amendment. The chairman said that in the event of the majority of suppliers to n creamtry wishing to go in for home scparaion. it was only right that those who wished the creamery kept open should be prepared to pay any extra cost. }.lr. Fagan considered the resolution was a blow at the whole principle of co-operation. Mr, J. O. Taylor did not think that iMiy creamery jhould be an incubus on Ihi company.

Mr. Bakewell said it was not proved that any creamery was an incubus. The est of running the main factory was not increased by handling cream from any creameries. Moreover, the cost of separating the milk at the main factory had not been decided. It appeared to him to be brought forward nith the object of forcing home separation in them. If they shut down the creameries they would lose a good deal.

Mr. D. Todd considered that three or four creameries had been erected that should never have been. If creameries could not be run for (is, they should be shut down.

Mr. J. O. Taylor thought that by paying '/, d more for cream they would induce more suppliers to go in for home separation, and so increase the cost of running the creamery.

In reply to questions, -Jr. Ross (manager), said that there was 2 per cent, additional over-run from home separated cream than milk He had had very satisfactory reports from Home regarding the homo separated butter. Mr, R. T. Williams: The grade this year is higher than ever. After further discusion. which at times took the

nature of aeross-the-hall talk, both the amendment and resolution were lust. THE JTORE SURPLUS. Mr H. E. Deane moved that the balance of £lOl in the store account lie' refunded to purchasers by way of rebate, Tt was pointed out that this could not be discussed, as the report had already been adopted. Mr. Deane stated that during the discussion on the balance-sheet he had moved an amendment, but was informed by the chairman that he would be given an opportunity later on during the meeting of doing so. The meeting was of opinion that the (Vscussion on the balance-sheet should not be re-opened, and the resolution lapsed. GENERAL. Votes of thanks were accorded to the manager (Mr. J. D. Ross), the secretary (Mr. (!. H. Buckley), the store manager (Mr. P. Preo), and their respective staffs, and also to the chairman and directors. At a subsequent meeting. Mr. Bowler was re-elected chairman of directors.