BELL BLOCK DAIRY COMPANY.

Taranaki Daily News, 18 August 1916, Page 3

BELL BLOCK DAIRY COMPANY.

ANNUAL MEETING. The annual meeting of the Bell Bloek Co-operative l>airy Factory Company, Ltd., was held at the Bell Block Hall on Wednesday night. Mr. J. B. Comiett, ehviinnaii of directors, presided over a large attendance of members. ANNUAL REPORT. The annual report stated that owing to the good prices obtained for cheese the directors decided to write off 50 per cent, of the cost of the cheese factories this year, amounting to £l7lO 17s, but had not written off any depreciation from the butter factories. After this writing off > the profit and loss account showed a credit balance of £9173 lis lid, and the directors recommended the usual dividend of 3 per cent, on capital, absorbing £17:1, and a further payment to suppliers of 2d per lb of butter-fat supplied during the butter-making period, and Gd per 11) of butter-fat supplied during the cheese-making period. This made an average of 15.11 d per lb of butter-fat for butter and 19d per 11) of butter-fat for cheese, making, in addition to the 0 per cent, on share capital, an average payment for botb butter and cheese of 17.91 d per lb. There was still about £OGO to carry forward to provide for any fall in value of cheese in stock at June 30.

For butter-making to October 31, 1015, there was received 3 044.5.j11bs of milk, and 29,0931bs of cream, producing 120,380 lbs of butter-fat, the average test best 3.79. Butter made amounted to 150,022 lbs (67% tons), over-run 19.17iper cent. For cheese making to June'3o, 1.91G, the figures were: Milk, 7,043,7251b5; but-ter-fat, 21)1,17011)3; average test, 4.13. Cheese made, 7B0,l)l-31bs (339'/+ 'tons); lbs milk to lb cheese, 9.251b; lbs cheese ner lb of butter-fat, 2.01; whey butter made, 15,5211b5.

The balance-sheet showed liabilities and assets totalling £12,039 Is Sd. Milk suppliers had received £22.079 17s 7d; salaries totalled £llO7 13s Id, and butter boxes £539 lGs Id, these being the principal items of expenditure. Sales of butter amounted to £'J'JS3 7s 3d and cheese £-27,021 5s Dd.

In moving tlio adoption of tlio report and balance-sheet, Mr. Connctt remarked that cheese lust year had readied remarkably high prices, and in November the factory went into the manufacture of that produce. In December they received an offer of 8 1-lfid for choose. The export of cheese totalled 333 tons, of which the Government had scoured ICO tons at 7'/ 4 d, but if the factory had been engaged in the manufacture of cheese during the whole period the total would have been 4SG tons. Returns from eight shipments averaged f1.41d per lb; live more shipments had to be received, and these would probably make !)d per lb: whey butter totalled 252 tons, of which 157 had been exported. The grade of their butter had stood very well at the freezing works—'JO.SS and 110.52. Regarding the company's properties, the factories were valued at £1721 Is 4d and plant £1175 12s Bd. and casein building £525, a total of £3121 14s. Against this thev had written off £l7lO 17s, which was equal to Id per lb butter-fat. and 10 per cent, (tepreciation (£022) brought the total to £2372 17s. In normal times this high depreciation would not be adopted. To meet this increased depreciation it was suggested that an extra premium be placed on shaves. Mr. Connctt touched on the matter of -suppliers sending Letter milk tn the factory, also the necessity for farmers having clean yards and plenty of good drinking water for their stock. To ensure good quality cheese or butter it was necessary that farmers should exercise great care in the matter of feeding stock. Reference was also made to the value of the cow-testing association. which now had 32 •nembers, covering 577 eows. During the year the factory had lost several suppliers, some through removal anil others who had gone to the front. The members who had severed their connection with the

factory were Messrs Ibbotson. Ci. Sole. | Body, E. Griffiths, C. H. Street, C. Rahvay Barriball Bros, and J. R. Hill. Tl'ey had also gained a few suppliers. Those holding share* at present paid 5s per share, but those coining in later on may have to pay perhaps up to 10.? per share. Those leaving the emr.pany and wishing to dispose of their shaves would probably lie offered up to 17s Gci. This was prac- 1 tieally a new concern, that was, regarding it as a cheese company, and therefore the secretary eould not draw comparisons with previous years. They had done remark ably well. ~ Mr. C. Hoskins seconded the motion. In answer to Mr. Laurent, the chairman explained that the depreciation inplant was likely to be much larger now they had two plants. With plants not in use they were likely to show a much larger depreciation than if in daily use. The motion was then carriedELECTIONS. Messrs Hoskin and A. Walsh were elected to the positions of directors, vice i Messrs Griffiths and Smcllie. i Mr. J. 11. Rice was re-elected auditor; at a fee of .£U (is. WAR BONUS. The question of meeting the increased cost of living was introduced. Some suggested that the factory employees be given a bonus of 5 per cent., and others thought 5s pel week more reasonable. It was decided that the matter bo left 1 to the directors. COW-TESTING. Mr. Fulton, by permission ot the chairman. then addressed the meeting on the question of cow-testing, and at the close of his address it was resolved to carry on tlm cow-testing association, GENERAL. The chairman was voted an honorarium of £25 and his co-dircctois -is each and they were also accorded n hearty vote of thanks for their service* during the past year. A vote of thanks was also accorded the staff. ELECTION OF CHAIRMAN, Mr. Connett was subsequently reelected chairman for the ensuing year. At the conclusion of the meeting supper was handed round by a number or k-.dies (.f the district, who were accorded a hearty vote of thanks for their kindness. At a subsequent meeting of directors, Mr. J. ,S. Connett was re-elected chairi. an. The directors, in accordance with the wish of the sharehrlders, voted war bonuses of to the manager, and 5s i ! week each to th? secretary, branch mar ager and cheesemaker.