DAIRY COMPANY MEETINGS.
; RIVERDALE. The annual meeting of ilie shareholders of the Rivcrdalc Dairy Factory Company was held on Monday, the chairman of directors (Mr J. S. McKay) presiding. The directors' report said: The past season lias been a verv successful one
as regards prices, but, owing to the dry season, the output show,3 a considerable decrease. The Imperial Government purchased the whole of the balance ot the season's output of cheese from .January 10 last. Prior to this date 3851 crates of cheese were consigned to London and Liverpool through J. and J. Londsdale and Co. Final setihnnent on account cf this cheese haa not \et been made. For balance-sheet purposes'it has been valued at !)'/';d. It is very probable that a eouside'.'ab'e balance will yet be paid on account of thi3 cheese. The butter-fat tax has been a source of considerable agitation during the season, and the cost to the company, has been £IBB9 13a 4d. After the fast balance-sheet had been made up considerable surpluses were received or: account of the previous year's cheese. A further payment of v.d was made in October last, and a fai* sum carried forward to the present season. After writing of! £450 for depreciation, the profit and loss account shows a'balance of £8251 Ss ad; this with the balance, £.'!36 Ms, brought forward from last year, gives £SSSS 2s 5d tor distribution. From this your directors recommend the payment of a dividend of 0 per cent, on paid-up capital of the company. Also a further payment to suppliers of 3d per lb lor the whole season, making the payments 21d from July 1, 1910, to March 31, 1917, and Iyd for April, May and June, when butter was manufactured, and the balance to be eitrried forward. During (lie year considerable additions have been made to the company's building.-, and a new making room is Hearing completion, upon which advance payments amounting to £ISIS 17s 9d have been mad The new building, when completed, will be a credit to the company, and will allow of the manufacture ot the company's butter and cheese at a minimum cost. Any inconvenience caiu.ed to suppliers during rebuilding will be amply repaid by the convenience of working when the new building is readv. The general store iias had a very successful year. The turnover and also the profits being a record for the company. To make more room for the factory' a new site was purehftsed, and the rftore removed to the opposite side of ilie road at a cost of £175 7s sd. The net piofit after paying for the cost of removal is £OB9 105,.t0 which lias to be added £llß J2s 9d brought forward from last year. This will allow of :• bonus on store purchases of S per cent.
The following statistics were attached to the report, those for 101G appearing in parentheses:—il'l": Lbs milk, 17,153,043 {1 !)>:03,573>. decrease. :!.055,530: total lbs butter-fat, U53.778 (701,1117), decrease, 108.139; lbs cheese made, 1.551,1)4:. (1,01.!.'!,503), decrease 251,5.15; lbs cream butter made, 44,450 157,877), decrease, 13,427; lbs whey butter made, 20,170 H?7,CSB), decrease, 8512- lbs cheese per lb butter-fat, 2.03 (2.(17), decrease, .01: lbs milk per lb cheese, 10.1 (11.74); increase. "0; lbs milk per lb butter, 20.0 (21.7), decrease, 1.7 j overrun 14.7 (17.1), decrease, 2.0; average test for season, 3.81 (3.847), decrease, '.037; average payments for season, 20.51) (19.874), increase, I.OIC. The profit and loss accornt showed that £48,758 was paid for milk purchased. Other expenditure, including cost of management, freights, supplies and taxation totalled £12,31)0. The revenue irom sales oi cheese was ;'.50,- ]<!,->•. that from butter sales ,t:ii(i3s.
The three retiring directors (Messrs F. Livingston, ,T. A. McCa'.iuni, and A. Murdoch) were returned unopposed and Mr Lemion was re-elected auditor Tiic chairman was voted the usual honorarium, with £ls la; bonus on account of the heavy work during the year. At a meetinc of directors he. l -! itfter the general meeting Mr Mckav was reelected chairman of directors. —StTi'. , "mlTlrose. The annual meeting of the shareholders of the Melrose Co-operative Dairy Company, Ltd., was held on Saturday. There was a good attendance, and Mr T. Geary, chalwnau uf director?, presided. The fifth annual report stated, inter alia: ''Final payment for 1915-10 season \yas made in December last and brought the pay-out for the season up to Is (i'jd. The past season's output was purchased by the Government at i)V 2 d. Prior to the purchase being made, six shipments of cheese, comprising 40? crates, had been made, and these were . omiv.nndeered by the Government on arrival in London." Tli? price to be paid for this dices* has ir-t yet been definitely settled, but lor balance-sheet purposes it .has beer, valued at &vfjtl anion this basis, payment on butter-fat for the season will work out at Is 7V[d. The services of Mr J. Moody h;>vc been retained for the coming season. The report also referred to the death of Mr Turtou, stating that Miss Beamish had been appointed to the position.
The following statistics wove attach-, etl: —Pounds of milk, 2,072,399; pounds of butterfat, 97,794; quantity of cheese made (llOt. llcwt. 3q. 151b), 247,7311b5; pounds of milk to lib cheese, 10.75; pounds of cheese from lib butterfat, 2.53.; average test, 3,05; cost per li) f.ftb. (including depreciation), .997 d. The report was adopted. Mr J. Anderson was re-elected to the hoard of directors, and Mr F. 0. Wallace to fill the vacancy, caused by the retirement of Mr Baldwin, who did not re-election.
Tiv; question of installing a plant .discussed and left with the divcc.toi'f to go into.
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Taranaki Daily News, 20 August 1917, Page 6
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933DAIRY COMPANY MEETINGS. Taranaki Daily News, 20 August 1917, Page 6
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