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WAITARA DAIRY COMPANY.

ANNUAL MEETING. The. nineteenth annual meeting of (he. above company was held at the factory yesterday, Mr. J. It. Hmitli, chairman of directors, presiding. The report stated that the output showed a slight increase of butter, while the casein,.industry hud doubled itself, and promised even better for the future The building now in course of construction at Huirangi would permit of cheese making being carried m at a minimum of expense. A residence had been purchased for the manager. The quality of the output had again been well maintained, all butter and casein being of first srada. The surplus will allow of (i further payment of GJd (inclusive of that already advanced during the past three months), making the gross payments a record for the factory. The following is a comparison with last year in parentheses: Butterfat, 442,308 (444,900)-, butter, 523,857 (522,191); advances, £20,209 lfls 2d (£24,891 9s ,6d); surplus, £11,320 19s 5d ( £5159 10s lid).

Suppliers' contributions through the factory to the patriotic funds amounted to £233 15s Od for the year. The balance-sheet showed that receipts totalled £43,009 5s 6d, the principal items being butter and refund of levy £ll,BOl 3a 7d; casein £llß3 lis 2d; buttermilk £45 8s Id. The principal items of expenditure were: General £1522 Is 2d; wages £792 18s 2d; butter boxes £552 9s sd; interest £139 18s sd; butterfat levy £1283 Is lid; depreciation written off £274 12s; advances to suppliers £20,209 19s 2d for butter and £IOO2 53 7d for casein, leaving a balance of £11,310 19s sd.

The chairman, in moving -the adoption of the report and balance-sheet, said the directors thought it advisable to postpone the holding of the meeting until the whole of the business, which was naturally delayed by ■the operations of the butterfat equalisation fund, had been completed, but they did not in the first place anticipate that it would be quite so long, but was pleased to say that the whole of the company's operations were completed until the close of the year. So as not to inconvenience any of the suppliers, monies on account of the bonus had been paid out each month as they were received, fourpence per pound of butterfat having been paid out during the past three months, an£ the balance of two pence and onc-eighW being available that day, milking a total of sixpence and one-eighth, thus showing a minimum payment to suppliers of one shilling and eight pence and one-eighth, which must be considered satisfactory. The plant and buildings had been kept in a state of efficiency and a house purchased for the manager. Some £233 had been paid by suppliers to the patriotic funds, and 9 boxes of butter donated for the bovs in the hospitals. The adoption was seconded by Mr A Rowe.

Mr. Wyatt expressed the opinion that the meeting should have been held on the usual date, and an approximate balancesheet given, then adjourned until such time as the whole thing was complete. The chairman said times were abnormal, and it was not always reasonable to ask them to stick to the actual letter, hut if that was the opinion of the meeting the directors would in future, should such a contingency as the present one again arise, take that as an instruction. On the motion of Messrs Ewens and Luxton, it was resolved that the action of the directorate in delaying the annual meeting be confirmed. Messrs A. Fulton and F. Loveridge, the retiring directors, were reappointed. ' Mr. Hugh Baily was re-appointed auditor. On the motion of Messrs Tumbull and Loveridge, it was decided to continue to contribute one-eighth of a penny per lb on butterfat to the patriotic fund, half to go to the wounded soldiers' fund and the other half to be equally divided between the Y.M.C.A. and Salvation Armv funds.

■ The chairman's honorarium for the ensuing year was fixed at £3O, and the directors' at 10s per meeting attended. At the statutory meeting of directors held after the annual meeting, Mr. J. n. Smtih was again appointed chairman.

Permanent link to this item
Hononga pūmau ki tēnei tūemi

https://paperspast.natlib.govt.nz/newspapers/TDN19171117.2.13

Bibliographic details
Ngā taipitopito pukapuka

Taranaki Daily News, 17 November 1917, Page 3

Word count
Tapeke kupu
679

WAITARA DAIRY COMPANY. Taranaki Daily News, 17 November 1917, Page 3

WAITARA DAIRY COMPANY. Taranaki Daily News, 17 November 1917, Page 3

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