MIDHIRST CO-OP. DAIRY FACTORY.

Taranaki Daily News, 23 July 1918, Page 3

MIDHIRST CO-OP. DAIRY FACTORY.

ANNUAL MEETING. There, was a good attendance of suppliers at the annual meeting of the Midhirst Go-up. Dairy Factory at the Midhirst Hall yesterday afternoon, Mr. Geo. Sangcster presiding. In moving the adoption of the report and balance-sheet, the chairman said that last year the prospects for butter were not bright; in fact, so black that many creameries broke away, and went into cheese- They had 'been told pretty plainly that butter could not be got away, but at the end of March there was very little butter in New Zealand. Their factory had bad a good year, going from zero to the top of the tree. At Manawatu they had been beaten, but the winning box bad been from milk from green feed, whereas their manager had to use that from cattle fed on turnips. The balance-sheet (already published) showed the company had had a very good year. He issued a word of warning that the companies, as well as individuals, would have to trust to themselves more than they had in the past, and urged farmers to do their (best in talcing up war bonds. There was more money to be paid to suppliers, but although they had sold the butter the money was not available. Referring to the necessity foT taking up additional shares in the cold storage accommodation, he was of opinion that these payments should be allowed to extend over three or four years, when he hoped the need would not be so great. Had this step not been taken lastseason, ; they might have had to stop milking. 1 Some rumors had been going round the district tiiat the company would not sanction the transfer of shares, but this was untrue. The company raised no objection to a man selling his farm having the shares transferred to a bona fide buyer. In the past the company had ' purchased shares, but were not doing so ' now. He then pointed out that the Au- ; gust butter was usually not the best, and advised that turnip feeding should ! be done judiciously. Those sending in ' milk witii an undue flavor of turnips ' would find it sent home. During the ; year they had lost Pembroke Road and ' Waingongoro, the latter being really 1 pushed out, as, by the loss of Pembroke Road, they could not entertain Waingon- ' goro as a separate proposition. He ' concluded by referring to several changes in the staff and reiterating the high \ position the company held in the competition classes at shows and at the gradinsr stores. ' Tn reply to Mr. Weston, The chairman stated that the reason ' for the larger tota of payments to ' directors was that many more meetings than usual had been held this year. In Teply to Mr. M'3ride, the secretary i explained" that the shares purchased \ from the Tuna and Pembroke Road, were held by the company, but ihad not yet been allotted- ' The secretary, in reply to Mr. M'Bride, ' touched on the farm purchase account, \ £7f»7 7s 6d, and stated this had been raised some years ago. At present the area was 1:1 acres, with good bouse, and was worth a good deal more than the sum stated. Mr. Weybourne was of opinion that the store'profit (£l<SO) should be divided amongst those who had purchased 5 goods there, and not distributed to the '. companv 1 The chairman: The shareholders sup- " plied the capital, and should participate 1 in any profit. ; Mr. Weston: What does sundry debt- ' ors, £-27,371, mean? It is a large 1 amount. | The secretary: Seventeen thousand " pounds was owing by the Government I ' when the bookg were made up. Ten " thousand pounds had been paid on Saturs dav to the banking account, and if it 1 had not been for this there would have 1 been no bonus on Saturday. 3 Mr.'M'Bride: Was any loss made on • Tuna, and had they settled up with Pembroke Road? The chairman: Tuna, was well satisfied 1 with their treatment, and so were the 1 directors. Pembroke Road had not been 1 settled. : ' Mr. Rutledge inquired who valued the ' buildings and plant and struck the de- ■ preciation? >' Tho chairman said it was some years * since tho buildings had been valued. '■' They only assessed the value. It was > merely a matter of writing down. In reply to a question as to the in- ■ crease in the wages account, the chair- '■• man explained that a certain number of ; ; hands were required whether the vats j were full or not, also wages had been, ■ increased since last meeting. ';• Casein was next in the limelight, and, ■ in touching on this, the secretary said that, whereas in the past they had been paid Is 4d per ton for surplus skim milk, the buyer had reduced this to 8dHe considered, however, that this would bring in about £3OO next year. The report was then adopted. _ f ELECTION OP DIRECTORS. 1 Messrs J. M. Shotter, Shcrson, Mahon, ' Weybourne, and Adlam were elected to ' fill the five vacancies, and, in declaring 1 these elected the chairman said he took it as a compliment that shareholder ; were well satisfied with the work of the I company or too apathetic to bother \ themselves. \ Mr. R- M'K. Morisqn, in retiring from the directorate, and not seeking re-elec-tion, expressed his appreciation of tho 5 uniform courtesy extended to him by the chairman, directors, and staff during the, past year. Mr. T. Harry Pcnn was re-elected au- ; ditor at the same remuneration. l A notice of motion by the chairman I that the number of directors be seven ■ instead of nine, was defeated on the voices. i A brief formal discussion on the prospects of the. dried-milk industry and the passing of votes of than'kg to the stafJ for their services concluded a very interesting meeting.