MAKETAWA DAIRY COMPANY.

Taranaki Daily News, 11 August 1916, Page 3

MAKETAWA DAIRY COMPANY.

AXXUAL MEETING. The twenty-first annual meeting of the Maketawa Dairy Company was held at the factory, Maketawa, yesterday, Mr. J. Brown, chairman of directors, -presiding over a good attendance of suppliers. REPORT AXD BALANCE-SHEET. The report showed that the quantity of butter made was 142 tons S ewt. 1 qr. 171b. Out ox the balance of £2972 15s 2d the directors proposed to make a further payment to suppliers totalling £2!)33 fls Jlil, and to carry the balance forward. After adjusting'the creamery working account, this amount will allow payment to factory suppliers at the rate of 2 2-3(1, and to creamery suppliers of 2'/.d per lb of butter-fat supplied during the season, amounting to £1772 3s 7d «nd .-CI 1(10 ;« Sd respectively. The following; statistics were given:—Milk received. (i,47).!).")!llb; cream received. 14.51S 11); butter-fat. 271,«51b; butter made, :?l!),()2Ub; butter per lb of butter-fat, 1,1741b; average test, milk 4.01), cream 45.7; over-run, 17.4 per cent.; advances paid equal 13.21 d per lb of bultei-fat; "•-<•-■ --■ uding bonus), factory suppliers 15.57 d, creamery suppliers 15.7 M. average 15.Sd. The balance-sheet showed that butter sold and in stock amounted to £21.254 Ids Sd. Advances to suppliers totalled £14.!H1; manufacturing expenses were £1371 4s lid; selling and administration £1712 12s 3d, and depreciation £212 ISsc

CHAIRMAN'S ADDRESS, In moving the adoption of the report p.nd balance-sheet, the chairman congratulated the shareholders on the position of the factory. As far as payment was concerned the year had been a record one, though it was not quite a record as far as the output was concerned. That day, continued the chairman, they wore celebrating the 21st anniversary of the company, during 20 years of which 'he had been its chairman. In looking over the old balancesheets one could not but notice the strides that had been made. The first year they started things had not been too vgood and they experienced tremendous trouble in getting the joint and several signed; but in six years t'iiey hart paid ofr the liability on the factory, which was a very good record. In their fir.it season they manufactured 43 tons of butter and paid out 7'/>d per lb for butter-fat. This year the company had manufactured 142 tons, and had paid out I to suppliers nearly lfid per lb for butterfat. The turnover during the first year was £3OOO. this year it was £2IJOOO. There were li> shareholders at the start, as'against 47 last year. They could therefore see that the factory had increased both in shareholders, output, p.nd payments. This year and last year the prices were abnormal, but if they calculated tlie butter at from Is to Is Id they would see that there had been a very great inere".?e from the first start to tlie present. lie did not think it was any use prophesying from one year to another what produce would realise on the open market. This depended on the condition of the masses at Home, as if the working classes did well, it meant a good market for our butter, cheese and meat. There had at times been some talk of amalgamating the company with a bigger concern, but he could see no reason for this at present, as even i smaller factories then Maketawa did well. He was disappointed that they had not been able to pay out more than they had done. He. had tried to put his finger on the weak spot, but if there was one, he could not find it. Still, he did not think suppliers had much to complain about in the pay-out, There had been various increases in fuel, wages, and requisites, due to the increased cost, and the same hud applied to the butter export charges, .which might be increased again next year, as they were at the mercy of the big shipping concerns. To his mind, next year's prospects depended upon the question of the Government and the cheese people agreeing upon the price at which they will sell cheese to the Home Government. If no arrangement could be jome to regarding the price, he was afraid that they would have difficulty in getting the butter away, because there was no question that the Government's purchasing or commandeering cue-third of last year's cheese was a great factor in getting tlio produce away as well as they did! It was unlikely that the Home Government would make any special effort to send boats- for New Zealand produce unless it could be obtained at a reasonable price. He would mJt say whether the cheese people were, asking a reasonable price. The regularity of the shipment of butter this year would therefore rest on whJther the Government purchased the cheese. He thanked the factory and creamery managers and their assistants for the good work done last season. Each had given of his best. The past few weeks had been an anxious time for the manager, and that brought him back to the eternal question of turnips, on which he had spoken several times. Feeding on turnips. Feeding on turnips may have been the reason why they could not pay out more, as one lot fas secondgrade. They must not blame .-he manager if word came back from the agents that the butter tasted of turnips and did not realise lop price. The blame must rest on tlie suppliers if their butter did not realise as high a price as other factories that did not allow feeding on turnips. If suppliers would set to work and send the best article to the factory. hj« was quite satisfied that the manager and staff would turn out a first-class article. J Mr. F. Corney seconded the adoption of the report. Mr. J. B. Simpson considered that shipping was a question in which every farmer was deeply interested. Why should the farmers make good roads to carry their produce to the" railways, owned by the people, and deliver it to the harbor, ■ also owned by the people, and there place it on board ships owned by capitalists, who dictated where it should go and the price they would pay. If it were logical to own railways it should be logical to own ships. Mr. Jlasscy, though not a Socialist, had stated that the time must come when they should own ships. Australia had recently purchased sixteen or seventeen ships, which action was going to effect a considerable saving to the producers of Australia. He thought that if a resolution on-the subject was passed it would 'have a tendency to make the authorities discuss the matter more. Regarding turnips, he considered that no man could make good butter from the milk of turnin fed cows. In the winter, when separating milk, he had tried every method of feeding, but could not eliminate the Jturnip flavoj*.

Mr. Dombroski thought that turnips could be fed without detriment. The motion was carried. ELECTION OF DIRECTORS. For the four vacancies on the directorate caused by the retirement by rotation of Messrs H.idgenuin, Stephens and (iibbs, and also by the resignation of Mr. Rickard, there were six nominations, Mr. Stephens being the only director to seek re-election. Messrs ll.'Trimble and J. S. Connett were appointed scrutineers, and it was decided that the successful candidate securing the least number of votes should retire next year. The election resulted: Messrs J. T. Stephens 39, E. A. Laurence 30, C. Goble 2S, ,T. IT. Dombroski 27 (elected); J. B. Simpson 21, F. Dodunski 20. Mr. T. K. Hamerton was elected auditor at a fee of £4 4s. THE DIRECTORATE Mr. .T. B. Simpson moved, pursuant to notice, that the articles of association be altered so ns to provide for the number of directors being reduced from 7 to 5. After some discussion the motion was lost by 15 to 21. GENERAL* It was decided to vote the chairman an honorarium of £ls 15s for his past year's services. A vote of thanks was accorded to the directors and staff, also to Mr. Pereiyal, the secretary,