MOA DAIRY COMPANY.

Taranaki Daily News, 6 August 1917, Page 2

MOA DAIRY COMPANY.

MWAL MEETING. The ordinary mcctinpr of tlio Moa Dairy Company was held in tlie Parish Hall Jnglewood, on Saturday, Mr. T. S. Bowler, chairman of directors, presiding over a good attendance of shareholders. At the commencement, (Mr. Bakewell wished the chairman to give all a fair deal. Discussion ensued as to the order of procedure, and on the motion of Messrs McMahon and Yates it was decided to limit each speaker to five minutes on any one subject, Mr. Bakewell opposing. REPORT AND BALANCE-SHEET. The report and 'balance-sheet, as already published, were taken as read, and, in moving their adoption, the chairman stated that the output for tlio season under review was less by 80 tons as compared with the previous season. This shortage -was caused partly by the unfavorable weather and partly by the faot that so many young men had gone to the war. The wages account had increased by £230, paper, boxes and salt £l3O. fuel showed a decrease of £BO, owing to the fact that coal could now be carted to the creameries by the motor lorry, so saving burning wood. Horse keep also less by £173, on account of the installation of the motor lorry. Repairs and renewals showed an increase of £l2O. All shareholders would agree that the factories and creameries were in first-class order. Freezing and storage charges liad gone up by £l2O, due to extra storage owing to shipping space being so limited. The increased depreciation was due to hoolc values having increased consequent on the company having- purchased the freehold of the Inglewood factory and having -written £l3O off the lorry. He touched on. the iniquity of the butter-fat levy, and referred at length to the shortage of Storage and the steps that were being taken in Wellington and .elsewhere to overcome the difficulty. 'He strongly advised nil to produce as much as possible. Mr. McMahon seconded. Mr. G. W. lienwood objected to the position regarding the nomination to the directorate. The suppliers at the Waiongona creamery did not receive their balance-sheets until three days ago, and so had no opportunity of nominating directors. All were agreed that a change was desirable. The chairman pointed out that the balance-sheets were posted on .July 27, as was done last year. Moreover, nominations were advertised for. The articles of association provided for the balancesheet being posted not less than seven days before the annual meeting. Mr. Henwood considered that the article should be expunged, and moved in that direQtion. The chairman, in reply to Mr. Todd, said that the "butter in stock had been valued at Is <ld per lb. The motor lorvv had cost £GoO and was a 1010 hiodel, so should not be out of date. It had cost £26 in repairs to May 31. To another supplier, the chairman stated that the butter should realise a high price on the London market. Six hundred boxes had just been sent awav.

Mr. Todd asked why particulars regarding the cost of each creamery was not given as usual. The chairman: It is a year of war and wd have decided to give a.s little information as possible. The suppliers can loftk at the hooks. Mr. IJenwood asked whether the creameries were paying. He did not think it paid to keep a creamery for six suppliers.

The chairman: Let us get casein and all the creameries will pay. •In reply to Mr. Henwood, trie chairman stated that they had made a lot of unsa'.tcd butter. Salted butter, however, sold 'well locally and jthe directors therefore got unsalted butter from the works, added 3 per cent, of salt to it and sold it at a profit. Mr. Todd said the store made a profit of £4OO, but he thought they should sell their goods cheaper. The chairman favored selling at ordinary prices and paying out the profits to suppliers as a "bonus.

The report and balance-sheet were then adopted.

DOMINATION OF DIRECTORS. Discussion took place on the method of nominating directors, suppliers taking exception to the article of association permitting retiring directors to be reelected without nomination, and a notice of motion was given to delete this. Members a!sp objected to tlie necessity of nominating directors seven days before the annual meeting. It was finally decided, on the motion of Mr. J, 0. Taylor, that the balancesheet he posted ten days before the annual meeting, and that the date of nomination be placed therein.

CASEIN. The chairman referred to the fact, that other factories were going in for cheese or casein, wherea* Inglewood 'was standing .still. The directors had passed the following resolution that morning: That it be a recommendation from the directors to the annual meeting that in order to meet the competition from neighboring companies it is essential for lis to go ill for some scheme that will put us on a level in the matter of na\i'.ig out on butter-fat with those other companies, and that, situated as we are, the best scheme to meet our requirements is, in the opinion of the directors as a, body, to undertake the manufacture of casein, under a contract with the New Zealand Casein Co., commencing on Movember 1, and the directors would earnestly counsel the shareholders in their own interests to calmly and impartially agree to the recommendation.

Mr. Holtz. manager of tbe company, explained the proposals, which were: Firls, that casein plants he installed at each creamery and the mam factory, the Casein Company undertaking to supply the plant, the Dairv Company to supply buildings, etc. The Casein Company would enter into a contract to pay 3jd per lb for casein for two years, and at the end of that time the' plant would be handed over to the company. There was also a smaller scheme' to deal with two or three branches, but in this case the company would want a tliree years' 'contract. Tf the Moa Company put in its own plant the Casein Company would be prepared to pay 4</ g d per lb for casein. This, howover, was considered by the directors to be impossible. He pointed out that the butter-milk, if made into casein, would realise £240 instead of £25 as at present. Tbe reason for commencing on November Ist was so as to enable those who bad no confidence in casein whey as of feeding value .to take skim milk for their calves! 17c stated that suppliers would have to guarantee 75 per cent, of their supply. In reply to questions, Mr.. Holtz stated that if the company put in their own plant the casein should return 3}d per

!b butter-fat. On the scheme of the company supplying the plant—which they were'not giving for nothing, he stated—the return should be 2%d .per lb on butter-fat, though this could not be definitely Btated at present. He gave figures to show that casein was .more profitable than pigs. To instal the plant at all creameries, apart from buildings, would cost £2OOO. To Mr. Todd: He hoped the concern would be a co-operative concern. Mr, McMahon seconded (the motion. Mr. Todd moved an amendment that the matter be held over until after the war'. (-Laughter.) Mr. Bakewell seconded. Mr. McMahon said that at 2y 2 d a man supplying 1-000 gallons of milk ipor day, at 3.9, test, would make £l2 per month on casein, which could not he done out of pigs. Mr. Bakewell reiterated that the world was trying out for food. Economically lie contended that it was most unsound to give up turning skim milk into pork. They had no security that acids deleterious to pigs would not be used in the manufacture of casein. If they 'wanted to c-hanae lot them go in for cheese. Mr. Holtz did not think there would be any reason to decrease their pig production at all. Casein was, largely'used for nerve foods, of which thousand? of tins were- now going to the military hospitals in France. The manufacture of casein was not unpatriotic. To Mr. Todd: The suppliers who went in for casein -would pay the coat Of manufacture. It was only proposed to equip onor ; or two branches at the start.

Tim amendment was lost by 22 to 10. The motion on being put was carried by 22 to 12.

BONUS. The chairman intimated ' that on August 20 a bonus of 2Jd would be paid out, making a total of Is 6'/ a d so far for the season, with a further payment to come. AUDITOR. Mr. T. C. 11. Nicholls was appointed' auditor at a fee of £ls 15s. VOTES OP THANKS. Votes of thanks were accorded the manager and staff, also the manager and staff of the store;