MANGATOKI DAIRY COMPANY.

Taranaki Daily News, 22 August 1917, Page 8

MANGATOKI DAIRY COMPANY.

ANNUAL MEETING. Tlic seventeenth annual meeting of the Mangatoki Hairy ComiKinv was held at tlic .Mangatuki ' Public' Ikfll yeslerday, Mr. J. Marx, chairman of dirci-tora. presiding over a good uttejiuance of members. REPORT AND BALANCE SHEET. The report showed mill; received 27,0]2.:.:i3ib, giving 1.032,1T!]!, of butter- i fat. :i average test of 3.K! : -21/,7(i : '.::M!b ! of milk being used for cheese-making. at an average lest of 3.73, yielding 511.C24 lb of butter-fat, and making f1.77 tons loewt. 3qr. lib of cheese, or 2.(>3;h of cheese to lib of butter-fat; 5,412, Mil 3b of milk used for butler-making, average test 4 per cent., yielding 221,051)!b ol butter-fat, from which 1 Iftons !)c\vl. :!<|i', ISlti of crearacry butter were made. .In addition to this Kltons ISewt. 2<|r. tilb of whey butter, and -qfitons Ocwt. 2qr. lfilb of casein were also manufactured. One shilling anil scvcnpence-halfuenny per lb of butter-fat received has been paid, leaving a balance of JC4SS7 19s fnl on hand, after writing off £2OOO for depreciation. The directors recommended ■a dividend of 5 per cent, on paid-up share capital (absorbing £601), leaving 3. r )SG 10s Hd for further payment, in addition to further payments for 433;} crates of cheese requisitioned by the Imperial Govununcnt on its arrival in London, and 10 per cent, on' 2557 crate: of cheese on Government purchase. The balance-sheet showed receipts to have been £103,437 4s 3d, whilst the expenditure showed: Charges .€4815 10s. maintenance £o3S Gs Sd, railage £9Si) 7s Sd, cartage £598 14s id, interest .-CliOl tls 2d, rent £333 2s ~i, wages £4'IHK; 13s | lid, whilst £S3,SOI 15s'yd had been 11 paid to suppliers.

CHAIRMAN'S ADDRESS. The chairman expressed regret that the war still continued, and lie also referred to the loss of the Turakina and expressed the hope that not many lives had been lost. As far as prices were concerned the season had been a record one. but he thought none of them would object to the price bein-j lid provided | they were back in normal time- aaain. He detaiied tin- iieisoliuiionn that had taken place as to the purchase of tin: ' oulpiit by the Imperial iioverninrnt. at Slid in January. Prior to this tin; company liad decided to forward its product) on open consignment, but ha<l been care" ful to insert a clause that they were j In be free to sell to the (lovcrninent, or lie' Imperial Covoriiinent. This clause had saacd a lot of trouble. The agreement with the (divernu.ent only cnvered tie; cheese in store at the time or lo be ma:!?. A number of boat.-, had to; ward, and Liic produce us ii reached London was commandeered. \\laii;_;aioki had ■!■',:):> crates taken in this \\\ry. on whii-h Sid was advanced, leaving the final -eUieiiiclit to he arrnnee i later. The agents who hail purchased cheese an.in.sed a friendly .a-e m como.ction wiili cheese shipped prior to the purchase by iho (io\ernn cut. and were awarded 1211s li-.l per ton. while !>'.d was only equivalent lo 10-'s per cwt. .llaiiyutoki therefore had lo jjet the extra ii:i,;u-y on -i:i:i."> c rales, which vouki amount to between JJTOilil and .USuou, which those who sold had 10,-!, in addition to the dillerriioe between the price they -old at ami :;\d. There had been ! con-idcr.ible dilliculty over limine.-. 'l'm-! '. .ovcrnmeni promi.-rd teat if m.i, .-hipped j li.ey would aowinci- bU per cent, on gradjiosiliou had ark-en. The -hippiu;; conipauie- had 'efti-ed lo ;;iw a c : ( .'i„ ; M M of tadiii- until iiidrmniiied by ti.r \a-' liomtl Dairy A-ar-ail ion. i.alcr. ihe" ivfu-.iil to give a cl.an bill of lad in;;. 'J'he matter was reprinted to 'Mr. Tiv.',', the Covcrnuieni uiiJi..r:l -.-, who e.u!ii..ri.-ed an a>h.:n.:e puymcui, condi'.ioiia! on the (,o\i . ~.:.: :u ;, ( .„m alio, cd to ~;il ;ul y i-.i; ■', j;:i:, ::! \n t':' u cc::,;.any's interest !!.;., wit; n ,; ,i;-.t.iH-e,i \.itc-ii it arriie.l l: v i:;e.' II- \ K.-.no-i in.-: .-..id. reaii.-d 1..--. jitm-tid-i had a •.■:;a.;i .;•., unity of this. "' :-iiipp,h_ pr..-|.u, for Liie comiii-- -ea- »..;: i.ere a-i bad a. Hay could I.;-. Jj ( . v.;.- hi hope, thai a u>i„rac! would have bleu i'.xed up by ti.e (:„■. ei-,:n;ei;t, but , arra.icc:.., „t- J : ,,i ~,.,, ~,... k . !-l-iu.i" r, '' ks :l °" : i;u lvl ' i-v haJ ''''''" ''" j In; .ti.vj .poke at h-nelh 01: the hk <-:•- jicmou-:!. At ore lime it \.-.\. : thon-Jit !h:il tiie : ;.;d would not have been - '•.;[- '■;>■"- l'> ma.M- up the diiiercuce la l!:e par;!;, between i:,-- inkier ■ ~':,! ),, all-.-ai;-I on ti,e l!o;,.e marki-l. le-- mv;hi, '"•■! ;art of \' k d lo con..- h o'-V ;,■ ,'. !,',' hoi,:c:s.

i-u I- year, owun. «., the , o- ■■ . -i;..,. oi ' iia.l L..= L over .C) 0") m thi;. va\.' |' t was. L iier.;.:re [-iv-o ; ,ed t„ ;;,i : ;,i |, ~„'„; -<-iv v.o;.v !!.,;;■ p,,.,;,,, k „. ui ; ;( , '•'! u.nl g;a..cd, a u,o-. i.„:,„-.,,„ ~; i, .-.'..cation, a.: t!.,.y .-.joid not -ct am advance u-r-.v the Lwol'.dd object of •edin-ii... money. After tiie war there woubl C a world famine 'and those who had Choir stures full of produce that had been well looked alter would do iveli. Thev should therefore take good eare of their ]);-0(!uc(-, even if it could not he s;!ii]uied prowditif;- that they could iinauce so us lo pay their way in the incaniimc ib; then formaih m.ned the adoption oi the report and balancc-.dieei.' Mr. 1). L A. A.Mbtu-y seconded.' THE L>l.-JC"L"SSIu.V. The chairman stated that the oiil-aif showed a sbrinka-e as compared wiih tie- previous year, owing to the weather conditions. When evcrythim; was received, the total pay-out would, be thought, he- Is l-O'vl, so that from a monetary point of view the scasim had been a good one. The turnover f.o.b. should reach anything over £i]n,i:;h). In reply to a (jtiestioii the rlmruun stated that the company had liaise Ijiilfor in the autumn and sold some of this | butter locally, receiving from the Cov eminent .UM'b) IDs lid as equalisation. To .Mr. Astbury: The increased interest was due to the delay in obtaining their money. He did not think there was any prospect of obtaining a refund of the butter-fat levy, which was naw abolisjied, A proposal was now being discussed to sell the butter to the Gov" ernment. . Mr- McCulnness a&ked whether the £l7O 3s 5d travelling expenses was iu--6WM4iHI4t-a the «pa?anj' a intereste.

The chairman stated tliat it was all in tie interests of the company, though other companies benefited thereby. A fund had now been established, to which every factory in Taramki would contribute.

ilr. McGniiiness agreed that it was unly riyht that every company should pay its proportion. The chairman pointed out that ths company's turnover was f: 112,01)1) and Ihe directors' and chairman's honorarium totalled £lO7.

To further questions the chairman i staled that :i good deal of cheese shipped j I his year wa„ li.'i.nliy up to the usual I i;iandard. Mr. 'Massey had remarked on ! this, bui the chairman considered it was'r not to be wondered at, considering the utorage diliicaliy. Mangatoki was"very near top as regards grade. The eliaiiinan explained that the company liml manufactured butter because there was an opportunity of selling come locally, and so obtaining finance to assist them. The butter, including caseIn. would bring in within a halfpenny of I'hocse. The report and balance-sheet wa9 adopted. ELECTION' OF DIRECTORS. Messrs Robert Law, Jaa. A. Kemp, and R. H. Free, the retiring directors, were re-elected unopposed. Mr. E. Parrott was re-appointed tiitlitor, tho fee being increased from It) guineas to 2t) guineas. SUPPLIERS' BUTTER. Mr. Astbury suggested that some alteration should he made in the method of selling butter to suppliers. He understood suppliers could get butter from tho butter-room themselves, and he hau heard that some of them did not- put flown their names, Mr. Cooper (manager) stated that their system was a pretty rigid one, but occasionally the butter-maker had to leave the room and some suppliers look advantage of his absence to take 'R couple of pounds of butter and leave "gain without booking the. butter. Tho maker always missed the butter and made inquiries. They were hopeful of catching someone. He considered that this di.-hnncty should be checked. A supplier considered the butter klioiibi he on the stage. I Mr. Anderson considered the butter should be given out on a set day. a* was done at the creamery. 1 The secretary slated that 3!) ib of butter was short between the quantity made mid the quantity tallied. The manager favored a set dav. Ho klatcd that to oblige shareholders h e had gone to the factory and got buttcf • Hi 10 p.m.

The chairman staled that he had worked out the returns and ascertained that each employee, including married men. averaged '2lb of butter 'per week, ivhich he considered very reasonable. THE CTIAIILUA.YS lIOXORAJUUM. Mr. Astbury considered that in view of the circumstances during the [last two years the chairman's honorarium should be increased, and he moved iliat Ine chairman should be voted an additional honorarium of £M, the amount lo he retrospective. -Mr. i'earce seconded.

Messrs T i'ciry and T. i?. Anderson s;>oke in high terms of the chairman's tinn.iuMe services

'J'he chairman stated that the p\-t four years had been strenuous ones. I uoiiyn he did not wish to make money ""I "I the coinpany. he- .pointed out tuav lee im.ney received in the past had »ih paid hj- out of pocket expenses In "duitmn, he bad been laid up three moiiibs. lie stressed the point that lite ikrectors had to look after a bu-iues., 'UM.lv.n- about .«Ji-Ji."i;,i!i, ilm | witiiotit i '' U .' ; '' t I . Clire . ll .' ,V 0 '"-' l ' ll \ v (- ' io-e ivete al-o entitle! to further rou'.kloi-'- !■».'"■ 'i'i...y received Ids per n,e;dm"•i eeroit:, one weird pay a niait ,U to iook aiu-r tneirown husines,. That was :;;>• <" <»■ «-.-ak point.; „f cooperation. i.-ie; men to take all the- re■d'oiisiodiiy and were not prepared to ■>><■■ IVr.-y mn-.cd thai; a vole of cam- !-;--'"" i-e pissed in ihe ciiarmau ana ; | i;-. A-lhiiiy stated lhat'he d.d rot ; l - , ;li'-"' in la!;;, and altered hU ri-suiu-l-i-'-'ii lo read that the chairman - .-. 1,,;.,.,--. rr.tini be increased by ;ClUO| 1 ,,. 1! . ;n It .(.1..H, lite amount to be retro.-::ect've jiov ihe ij.-i-t sea-ua. j 'l'ld- was seconded by Mr. fl. p,eee J i'.m: ciii-ri"il. I..''"' II T, : . ,M,Lil " 1 " f ll,e '•l'aiv.nan and j it was resolved to vole each ! OIkXJvRAL.

_ M a spaiial meeting of shareholder; ;i: i;.-,-.-,!!!.-..!- i.:; ; ,'i „-,, v „ h ,,[ to tll( , T . ini _ ;'■''!■' i.o-.eatiou liour.l for agricultural '"'.'' "' u "'\ ni -' <!<"'-li"U of roiidcing l "!- v — }•■'' '<" On. director., to con<u::,r a! tlie cm ~.,- l :, c , ,-,,„._