BELL BLOCK FACTORY.

Taranaki Daily News, 22 August 1918, Page 5

BELL BLOCK FACTORY.

THE ANNUAL MEETING. The annual meeting of the Bell Block factory was held last evening, Mr. Connett presiding over a good attendance of shareholders. The following report was adopted:

The following is the total of milk and butter-fat received:— Bell Block (lbs of milk) 8,250,400, (butterfat) 354,005, (average test) 4.20. Hillsborough (lbs of milk) 3,553,642, (butterfat) 150,414, (average test) 4.23. Total, 11,804,048 lbs milk, 505,019 butterfat, 4.278 average test.

During the past season we have had to take up 57 additional shares of £lO each in the Taranaki Producers' Freezing Company, Ltd. We will now have to take up 100 more shares, and the £1',060 will have to be paid during the coming season to endeavor to cope with the storage problem. In order to meet this expenditure the directors decided to set aside £I,OOO from profit and loss, and open a reserve fund,

After setting aside the £I,OOO for ireserve fund, and writing off £939 for'depreciation, the profit and loss account shows a credit balance of £13,552 10s lOd, which the directors recommend be allocated as follows:—The payment of the -usual dividend of e\u per cent on all capital paid to 30th June, 1917, amounting to £164 4s fid, and a further payment to suppliers on their past season's supply of G : } per lb of butermt, bringing the total payment for butterfat, to Is fli/,d. The addition of six per cent on share capital is equal to an average pay-out of 21.33 d per lb of butterfat. As a,considerable quantity of last season's cheese remains in store at Moturoa, it is recommended that 4d per lb of butterfat and the dividend be paid at the annual meeting, anil the balance later when more cheese has been sliidped. We 'have succeeded in obtaining two acres of land opposite the factory at Bell Block, with a view to erecting dwellings for the employees in the future. Table of quantities and averages with the preceding season.—Number of suppliers (1917) 77 (1918) 85; milk received (1917) 10,408,380 lbs (1918) 11,804,048 lbs; average test (1917) 4.15 per cent (1918) 4.27 per cent; butterfat (1917) 433,250 lbs (1918) 505,019 lbs; average price paid suppliers (1917) 20.6 d (1918) 21.33 d; cheese made (1917) 1,090,510 lbs (1918) 1,250,500 lbs; lbs of milk per lb cheese (1917) 0.5 lbs (1918) 9.43 lbs; lbs cheese per lb butterfat (1917) 2.53 lbs (1918) 2.5 lbs; average grade—Bell Block (1917) 90.76 (1918) 90.30; average grade—Hillsborough (1917) 91.96 (1918) 91.56. Messrs J, H. Street and G. Pitt, the retiring directors, were returned upopposed. Mr. A. J. Tunbridge was re-elected auditor. The chairman was voted an honorarium of £3O, and the directors £7 10s each. The chairman stated that the directors had always acted in the best interests of the company. 'He considered in writing off the depreciation they had acted wisely. Hearty votes of thanks were accorded ! the secretary, managers and staff; also the chairman and directors.

In reply to Mr. Ogle, the manager stated that he was agreeable to pasteurising the whey, if required, but he pointed out that it would utilise one ton of coal per week. Mr. Ogle asked whether, in, view of New Plymouth Borough Council extending its electric light works, it would not be a good proposition to endeavor to get the power installed at the factory. (Our report of the chairman's comprehensive address, and the discussion, is held over.)