KAPONGA DAIRY COMPANY.

Taranaki Daily News, 4 September 1917, Page 3

KAPONGA DAIRY COMPANY.

ANNUAL MEETING. The 19th annual meeting of the Kaponga Dairy Company nus held in tiie Town Hall, Kapongu, yesterday, About 80 shareholders being present. The chairman of directors, Mr. George Death, presided. The report and balance-sheet allowed that during the year 23,1!f).(W9!1w of inilk were received, giving 870 BU7lb« of butterfat, the average lest bein>; 3.5. Vor cheese making 22.S:M.:)<i(itb ot milk w,h used, yielding 806,0791b Imtterfat, and average test 3.81. Payments nmd« during the year worked out at Is <M per lb of butterfat, the balance to credit io profit and loss representing approximately an additional 3d. Further amounts to be received are lor cheese shipped prior to January l(i, 1!)17.. and ior that purchased by the Government Tlie total amount of cheese manufactured was 1025 tons 12ewt, taking 0.91b milk to lib cheese; 7tons lewt of butter was also made, taking 231b<s milk to lib butter, the overrun being 13 per cent. hey butter manufactured was 33,5041b. Compared with the previous year the amount jiianufactured showed a decrease in cheese by 13Gtons, butter 2tons and vvliey butter 16,0001b. Payments for milk received. £14,81S 10s {ld for final payment in 1913-10, and £51,252 lis 2d for past season. Wages absorbed £4lOl. 14a 4d, and progress payments £14.747 19s lOd, Cheese sales totalled £80,104 10s 3d, butter £982 7s Od, and whey butter £2272 14s Bd. leaving a credit balance of £lO,989 lis Bd. The chairman said it was pleasing to record a successful year as far as prices were concerned, but the yield was not up to previous years, partly due to the dry weather. £IOS2 had been written off for depreiation and £SOO ta the bank, and the profit and loss account showed a balance of £10.900, an additional 3d with the extra payment to be received on the commandeered cheese will make the total payments approximately is lOd to Is lid. Machinery and wages both exhibited a big increase. The water lace had also proved a great expense. Pasteurising plants were being put in at each factory, and. on the manager's advice, they anticipted a good increase both in yield anil quality. The vd levy cost the company £2OBI. ; ind nothing definite regarding a refund lad been made bv the Government. He recommended every supplier to save every veil possible, now that a company had been started m Patea. The new offices erected cost £450, and was a good asset to the company. Mr. Signal's property adjoining the factory had also been purchased, and will allow provision for married men. Regarding the Testing Association, owing to the difficulty of obtaining suitable labor to carrv out the work, they did not think it desirable to proceed with the mutter, but the manager was prepared to do a- limited amount of this work at 2s per cow, and ho advised all who could to take advantage 'of the opportunity. Mr. Mellow wished to know regarding the taking up of shares in the bacon company, liow the shares v.'ero made up. The chairman said the shares would come out of the capital account, and not out of the butterfat. So far it was only a matter of 2s Od per share. Mr. Mellow said the farmer soiling the pigs did not get any more money through the factory joining the company. Mr. Voullaive moved: "That the meeting be held in committee." This would allow i>. full and free discussion. Mr. Tait seconded. Mr. Mellow objected. They liad always found the press ready to give them every assistance, and no one questioned the fairness of the reports. There were plenty of shareholders who were not present and would look to the papers for the meeting. He -moved an amendment to the eifeei. that the press be allowed to record proceedings, using their own discretion-what to publish.—Seconded bv Mr. Tippins and carried. Mr. Tippins desired to know the cost of manufacture at Riverlea. The chairman said he could rot give the figures for anv individual factory. The secretary might have done so, 'out he was not present through sickness. Mr. E. Gibson queried the contract price of the dam at the water race. They were told it would be £250, and on the balance-sheet it was £303. The chairman said this was brought about through additions required. Some damage had been done through floods. In answer to Mr. Gibson the chairman said the water race cost £250 to repair. Mr. Gibson' (turning to reporters): I am glad you are here to-day. gentlemen. Prepare for something sensational. Do you know, Mr. Chairman, that the metai at the company's yards is costing £25 per cubic yard. The chairman: Surely not. Mr. Gibson: Surely yes. Tt was costing £2O to £25 per cubic yard. He was willing to pay £2O if the chairman would'do the same if his figures were not correct. He wished to know the company's overdraft at the bank. The chairman said it was £2D,001l Mr. Gibson: I make it £25,000. Was the company's credit not stopped ? The chairman: No. With perhaps one exception, cheques had been paid up to time, and the exception referred to there was a delav of two days. He would like to know where Mr. Gibson got. his information from. Mr. Gibson: Never mind that. Is it a fact that some of the directors wished to get a larger overdraft? The chairman: I decline to answer that question. Mr. Gibson then touched on (lie quality of some butter purchased from another factory for suppliers. He had had three pounds, and it was poor stuff. His next reference was to the Box Company shares, and then on loans issued during the year. Mr. A. King said he was not satisfied with the company's weir. It let the water through, over and under, The chairman said they had engaged an engineer to do the work. He admitted they went through the shingle and struck clav. Nevertheless, he was satisfied they had a good job. Mr. Gibson said the balance-sheet showed they had paid £ll3 for veils and secured £75 for veils sold. The chairman admitted that was the position. They had to get the veils, and competition from neighboring companies forced them up. Replying to Mr. Dagg, the chairman said the expenses and repairs ( £985) were mainly due to the machinery being run down and requiring thorough overhaul. Mr. Mellow touched on depreciation, and said they should never allow less than 10 per cent. He always insisted on that figure when chairman. " The chairman agreed, and though In war times it rbould be higher. In answer to Mr. King, the chairman said the fuel charges at the main factory last year were £360, against £250 the previous year. Great difficul- ' ty was experienced in getting good fire- | wood, and the prices were excessive. 1 Mr. King disagreed. The directors : I had been careless and allowed Kaiipoko-

nui and Riverdale to come into their district for firewood, whilst he also had 500 cords lb lift. _ In answer to Mr. J. 11. Bentlcy the chairman stated (hoy c.vpccted to secure sufficient power from the water race to work the whole season. lo Mr. Dagg: Steam was required for the pasteurising plant, and the weir for working the agitators, Mr. Guy (a director) explained that they were putting in :i 4f)-h.p. boiler to work the new pasteurising plant. A discussion took place relative to the weir. In answer to further questions, the i-lutinniMi said it cost .£250 to put the lower up, and ,£3 to pull it down. The motion for the adoption of the report and balance-sheet was carried. SUGAR OF MILK PLANT. Pursuant to notice, Mr. R. D. Dagg moved: "That it be a recommendation to the directors to make ready to erect a sugar of milk plant in conjunction with the present plant as soon as the ivar is over, in the meantime making all the preparations possible." Mr. Dagg said that since tabling the motion he had received a letter from Mr. D. Cuddie, stating that he regretted he was not in a position to supply the information required on the subject, but when obtained it would be available for dairy .'ompanies. Mr. Datrg added that, pending further information from Mr. Cuddie, he did not desire, to press the matter any further at this stage, and withdrew hln motion. CLEAN MILK. The manager. Mr. Sounness, addressed li few remarks, pointing out the value of clean surroundings when handling the milk. To allow the factories to make the best grades in cheese or butter cleanly habits at the cow-bail were just as essential as at the factory. Given a good quality milk from the farmer, the factory could turn out fa satisfactory article, but the milk must be of the cleanest doscr'mtion. Mr. Sounness' remarks were ri"' but were eagerly listened t.> . ,i!l present.