LEPPERTON DAIRY CO.

Taranaki Daily News, 27 August 1918, Page 5

LEPPERTON DAIRY CO.

ANNUAL MEETING. The twenty-sixth annual meeting of the Leppcrton Dairy Company was held last night, when Mr. H. B. Leppef, chairman of directors, presided over a good attendance of shareholders, CHAIRMAN'S ADDRESS. In moving the adoption of the report and balance-sheet (already published) j the chairman said that the new factory had been erected by Mr, Boon on a 10 per cent, basis, a first-class job having been turned out. He did not think the site could be improved upon. They were not cramped for room, and were now about to build quarters for casual hands. The cost of the factory was greater than estimated. It had been intended to build in wood, but owing to. the proximity of sand, it was decided to build in concrete. Concrete water tanks and tiling the whey tank also added to the cost. The season had been fairly kind, with the result that they had"an additional 320011) of butter-fat. Mr. Roberts only had four or five months' butter-making, and therefore did not attain to his usual high position of first or second at Moturoa. There had been no secondgrade buter or cheese. The price paid by the Imperial Government this year—viz., lOd—would not pay ajj well as the price given the previous year—viz., Oi/ 2 d --because dairy companies had to pay all freezing charges and insurance for at least an average of three months. The directors decided to appoint a cheescmaker under the then manager, and cheese-making Commenced on December 1. The yield of cheese per pound of butter-fat, which actually Worked out at 2.271b, was very low, and was largely responsible for the smallness of the payout. He considered this meant over £IOOO. or oyer 2d per poupd of butterfat, He referred to the loss caused by the resignation of Mr. W, Roberts, who had been manager for 13J years, and .eulogised his services. The directors had appointed Mr. Taylor, a cheese-maker, as manager, and he was doing good work. In order to provide necessary additional storage, the company had taken up 40 additional shares in the Moturoa Sneezing Company, and it would be necesßary for shareholders to approve a scheme for the payment of these. He briefly referred to the negotiations regarding the installation of electric power, which had I proved very unsatisfactory. The direcI tors were considering the installation of an improved hot-water service in order to save fuel. During the season they had sent 1335 crates of cheese to the works, and of these, up to June 30, only 135 had been shipped. Owing_ to short-weight, they had not been able' to receive more than "£5 10s advance on 1140 crates, instead of the full advance of £ 6, which I was received on 234 crates. Ha then formally moved the adoption of "the report and' balance-sheet. 'Mr. D. B. MTCee seconded. I THE DISCUSSION. Mr. Copestakc said he had-n6,ted»biie

their factory, with 8.501b of milk pel?,' t pound, had only paid out Is 5y g d> Btol.'S considered the cheese-maker was not ijoi il blaine jf he made a drier chpese, the authorities preferred. 'I In reply to Mr, Copestake, a direct®, | stated that the estimate given for new plant was about £ISOO, «'| in the factory. TJip chairman stated that the .plant had cost £1798, the balance, £093 X Bs, being old plant, including freezer, atr •'*% gine, churn, (Separators, etc. .\3 Mr. Blackball took exception to the* M old factory being taken into the balance- ■ 'J sheet at £5<32 this yeitr, when last jwi Jl it had 'been taken in at £297, t f M The secretary explained that in pre-'/! vious balance-sheets there was ateo V new building account of £B3O, In tl# '» ! i present balanc-sheet, the. two accounted , had been grouped, and the balance ! what remained after various p&at, in- 1 chiding freezer, churns, separators, feto,;. ,1 had been taken to the neiw cheese fas- "'5 tory. The balance of £S32 represented Vl manager's house, on which £.135 tag; just »been expended, dam, wheel, old factory, etc. -* , \j The chairman stated that the newtfai •! Tory cost £4189 15a <sd. ,' 'Mr. Blackball asked why the •<lif<&tot'# ' "! had taken upon themselves to six-vat factory in concrete at a COs £6541 when the shareholders had wriJfo*; V i rikd the erection of a four-vat factory' * at an estimated cost of 1 £3500. Be-con-' 'v! Eidered that the four-vat factory wari sufficient for the requirements of «Hie«aa., trict for 1,,V "3S Th'e chairman- stated that it was S3- 1 visable not to build too small. During '' the past 10 years their production had • increased 'SO per cent., and at this rate ' it would not (be long before the extra' yj vats were required. " / » * Mr. Percival, as architect, Justified the ' action of the directors in erecting ample' '•••• aecommodation. He abo explained that '< <! the architects had only charged commit- ; sion on £3OOO, so gained nothings ftoni the increased expenditure. ■/I The report and balance-sheet v adopted. VT,r. ELECTION I OF DIRECTORS, W ' ' '3 For the three vacancies on the dirictorate there were six nominations. Ttid ■, 1 election resulted as follows:—-Messrs H; B. Lepper 7i4, Q. S. Stimpson 63, W. N. Ackland 01 (elected), T. N. ißladkhali 46, D. B. M°Kee 35, and F. Dickinson 31, ! Messrs and Ackland were retir- ft incf ' > ■ > Mr. <3. Pullen was re-elected auditon , GENERAL. ' ' It was resolved that the company was ? ' in favor of falling into line with other • companies and bearing its share of the f cost of obtaining information re dried ' ; milk, etc., even if found necessary to go '; outside New Zealand, the directors to 1 have full power to act. • s | The directors were given power io " • makeithe necessary deductions from but- ; v ter-fat to meet the lialbility on the Sneezing Works' shares. • ' _Mr. Blacikhall suggested that all the directors of the eompanv should retire >''<■"} annually and be eligible for election, and ' he gave notice to move in that direction • • at an extraordinary meeting.. At a subsequent meeting of directors, 1 Mr. H- !B. (Lepper was re-elected chairman. ft