KAIMATA DAIRY COMPANY.

Taranaki Daily News, 9 August 1916, Page 6

KAIMATA DAIRY COMPANY.

. ] ANNUAL MEETIXG.,Tlia annual mooting of the Kaimata Dairy Company was hold at the Kainata Hall on Monday flight, Mr. Geo. tapper, chairman of directors, presiding jver a large attendance of shareholders. ' ANNUAL REPORT. The animal report showed that the uiiount of cheese made during the twelve months was 247 tons llewt 2qrs 2011). <Vt the date of balancing there were 431 'ases of cheese in the freeing works, ior consignment Home, 41 ea=es for the Imperial Government, and account sales were not to hand for 401 eases whicli lad been shipped Home. Suppliers had '•eceived advances equal to more than Is per 11) of butter-fat for the season, und since,closing the hooks the directors had made a further payment of 3d per lb of butter-fat received from September to May, both inclusive. They hoped to make further payments from time to time as cheese left the works and account sales came to hand; but with sd large a proportion of the output still to lie accounted for, they considered it prudent to only pay out when they had actually realised on. the cheese. Mr. Lacey having resigned his position as manager, Mr. J. Gunderson was appointed for the current year. The following' statistics were submitted:—Milk received, a.103,7171b; butterfat, 201,4101b; cheese. 534,5551b; average test, 3.0; lbs of milk to lib cheese, 9.31; lbs of cheese to lib fat, 2.75. The balance-sheet showed that sheese had been sold to the value of £l(i,Sa(i o.< 7d, and there was in stock on June 1, 1015, £1378 15s Id. Cheese at factory, in cool stores and in transit was estimated to produce £3504 4s (id, a total of £20,450 10s 3d. The sum of £10,170 lis lOd had been paid to suppliers. Export charges totalled £l4-20 lis lOd, wages, fuel, etc., £IOO3 IPs 11(1, and there was a balance o£ £0147 lis 3d. In moving the adoption of the report and balance-sheet, the chairman stated that the directors had had a very uphill and strenuous time. When they took over, they had a lot of alterations to make. Then, unfortunately, they had three months' had cheese to contend with. Last season's cheese was consigned through the Bank of Xew Zealand on open consignment, with the exception of one-third (CO tons lewt 2qrs), .which the Government commandeered at 7%! Owing to the war, they had not been able to get the cheese away as promptly as could he wished, on one occasion having as many as 400 eases in the freezing works awaiting shipment, besides that which was in- the. factory. All was now cleared out. however. They had made 2(7 tons, as against 221 tons j the previous year. Ten per cent, deprej eiation had been deducted totalling £2OB 10s fld, also £209 li'is 3d had been de-

lucted as a sinking fund, at V 4 d per lib butter-fat. If tiio CO tons commaiiileered by tlio Government at 7V»d liad realised tlic price at which they had valued the other, namely. ftd, they would have had £9Bl S3 3d more to divide, which meant that the 23 suppliers to the company had pi veil an average of £42 13s 4'/ 2 d for .patriotic purposes. In addition there was a loss of £lB4 on medium cheese. They had given the new manager, Mr, Gunderson, an absolutely free hand, believing that he wag a capable and conscientious man, and the speaker urged all suppliers to continue sending good milk, so as to assist the manager in turning out a good article, lii was also agreed that a war bonus of Js per week should bo given to each employee for the season. In conclusion, he thanked the suppliers who had been loyal to the factory in helping to show such good results, and he hoped that the factory next year would show better results. Mr. C. Old seconded. The chairman stated fhat.it was proposed to pay out 2d that evening, which would absorb about £4OCO, and a further payment would be made as returns cume to hand. There had been a fall in the cheese market, and it was probable that some of the cheese that had just got away would not realise the price estimated. In reply to a question, the chairman said that the directors had considered the advisability of making whey butter, and would probably instal a plant later on. In reply to Mr. Davidson, the secretary stated that the results of the consignments through the bank were on a par with those of other agents. The average netted at the Breakwater was 0.23 d. The report wes adopted, ELECTION" OF DIRECTORS There were eight nominations for the seven, seats on the directorate. Messrs J. S.'Connett and Gunderson were appointed scrutineers. The election resulted:—J. Dobson 04, A. E. Burweli 62. L. E. Bocock uG, Geo. Capper 52, E, Death 4!), R. C. Powell 4!), F. Eeisby 4!i (elected), 0. T. Davidson 3S. Mr. Geo. Pullen was appointed auditor at a fee of £4 4s. VOTING POWER. Sir. C. Old moved, in accordance with notice of motion, that the articles oi association be altered so as to provids that each shareholder shall have one vote. The principle of eo-operatior should be one man, one vote, and Ik did not consider that it was right foi the larger supplier to be able to outvote the small supplier. Mr. Bracegirdle seconded, and the motion was carried. RETIREMENT OF DIRECTORS. Mr. Davidson then moved, in accord ance with notice of motion, that the ar tides of association be altered so as tc cancel the words—''That no direetoi shall be elected or .hold office for niori than three years consecutively/' Tin mover said that it took some time i'ol directors to become familiar with tin business of the company, and it scemec absurd that a director should have t< retire from the directorate just when hi was. becoming expert. If a director dk not prove 11 good man, the shareholder: could turn him down, but they shouh. also have the right to keep a good mai on the directorate if they wished. Mr. Bocock seconded the motion which, after further discussion, was lost HONORARIUM. \ On the motion of Messrs C. Old an< I Bracegirdle, it was decided to i'ote tin , chairman an honorarium of £l2. i CHAIRMAN OF DIRECTORS. At a subsequent meeting of directors ! Mr. Geo. Capper was re-elected chair ■ man. 1 A SOCIAL GATHERING. At the conclusion of the business 0 the annual meeting, the suppliers as

sembled round the festive 'board, and after a light repast discussed a. short toast list, enjoying a couple of hours ,iu fraternal harmony. Mr. Geo. Capper presided. The toast list included ''The King"; ''The Visitors," responded to By Messrs J. S. Connett, A. Gray, G. H. Uuckeridge ami Iliitton; "New Suppliers," proposed by Mr. C. Old; "Chairman and Directors," proposed by Mr. 0. If. Buckcridgc and responded to by the chairman: "The Boys nt the Front," proposed by Mr. T. Carey and responded to by Mr. T. K. Tlnmerton; "The Secretary,'' proposed by the chairman, ami responded to by Mr. Percival. A presentation was made to Mr. C. E. Dobson, who has left the district. Mr. Buekeriilge gave a brief address on a scheme fo': the re-organisation of the Farmers' Union. During the evening songs were given by Messrs; Gray, Giddy, T. Carey and I!. C. Powell.