HAWERA DAIRY COMPANY.

Taranaki Daily News, 9 September 1918, Page 7

HAWERA DAIRY COMPANY.

ANNUAL MEETING, , *■» twenty-third annual meeting of t™ Hawera Co-op. Dairy Company was •ield at Hawera on 'Saturday, when Mr. J- R- Corrigan, chairman of directors, presided over an attendance of over 100 shareholders. REPORT AND BALAOTE-SHEET. The report showed that the new Tatt'luti factory was officially opened on t-ie 28th November last. The question of manufacturing dried mill; or milksugar was now under consideration, and ns soon as information is available it will be passed on. Last season the total pay-out yas Is ll%d. This season is (id had been paid out to date. A further 2d will be available ok the day of the annual meeting, and the directors recommended paying the usual 0 per cent, interest on fully paid-up shares. A further and final payment of 2 5-Scl, making a tctal of Is 10,5-Sd for the season, was anticipated. The season's output of cheese (15f!S tons) showed an increase of 231 tons on that of the previous year. Statistics:--Pounds of milk received, 3r..P3:i,G10; pounds of 'butter-fat, 1,333,23b'; average test, 3.BSS. Used for cheese-making! Pounds of milk, 35,. r >fiS,('2O; pounds of butter-fat. 1,332,417; pounds of cheese made (1598 tons 10 cut 2qrs 101b). 3,sSl)Jo'fi; pounds of milk to make lib cheese, 0 03: pounds of cheese from lib ;butter-fat, 2.59; avcrneg test, 38SC; cost of manufacture, cost of manufacture, including ! depreciation,. D7d; cost per pound f.0.b., j mr-ln ling depreciation. 1 355c1; cost per pound f.0.b.. !.2f«d. Used for buttermaking: Pounds of milk, 201,933; Hounds of hutter-fet, 10.5J3; pounds of butter made, 12,501; over-run, 10.15; average te=t. .(.OS; pounds of milk to make lib butter, 21.0!). z The balance-sheet showed receipts as £152 ISO ISs lid. the princiD.il items Wing:-Cheese .-EM-lllfi 15 s 10d, butter £OO7I Ps 0,1. The principal items of expenditure ti>'i>:-Putter-boxes and client pnfes fiwfl, coll £1312, warns C"S.-.5. reqnisili's C3SSO, dopreciation £I3OO, repairs £-f]2o. cartage £4SC, freezing €30.30. borse feed £3Ol. sceretare's =alary and office expenses £%7. veil? £2.10, trade charges £.37-!. rent, rates. t?.vcs. etc. £1.345: £104,153 bad been advanced to shareholders, leavin" £20.503 yet available. CHAIRMAN'S ADDRESS. The chairman, in moving the adoption of the report and balance-sheet, stated that the cost of production had gone up. owing to the enormous price of maf rial. The bulk of the item sundry debtors (£10,ft27) was ; money owing by the Imperial authorities. A certain amount of information was now available as to dried milk and sugar of milk, and the committee would 7iieet on Thursday. Regarding sugar of milk, estimating ha.)f the Hawera Company's supply at 100,0001b in the flush of the season, thin would mean lfi.fiOO.OOOlb of milk per year, vielding 200 tons, or 445,0001b of sugar of milk, which, at Is per pound, would produce £-22.100, and to this amount must be added £IOOO, which (lie albumen that could be used as calf food would produce, making a total of £2:1,400. ' To manufacture this a plant would cost £15.000. Tim expenses, therefore, would be: Interest £OOO, depreciation £ISOO, 2000 tons of coal £4OOO, wages ami requisites £4OOO. making a toial cost of £IO.IOO, thus showing a profit on half the supply of £13,000. At the present time, he thought they were losing money in not going in for sugar of milk, which, if based on the present-day war prices, would give some wonderful'pay-outs, as he understood that the price "now wa't over "s. Mr Mills, in seconding, pointed out that in the last season the companies had to pay more storage. The previous year also they had shipped on open consignment one-third of their output before the Imperial government purchased their cheese, and for this thev received the computed market value of 123s fid. Another point was that the quantity of chei vc' 'produced per pound of butter-fat was considerably less, owing partly to the. cheese being made exceptionally dry owing to the prospect of long storage and partly to the use of a. considerable quantity ' of pepsin mixed with rennet, which undoubtedly tended to a. considerable amount of waste The third reason wn* the highest test, because when they got a high test they did not get the return of cheese in proportion. The reduced yield per pound ! of butter-fat made a difference of 5-Sd I per pound butter-fat, and. adiled to the j extra storage, should be sufficient exi nlnnation why they did not pay out 2s | per pound. ! Mr. Mills said he favored suser of i milk. He felt that, there had been ; "onsiderable. waste in not going in for , d- some time ago, and was now more ! convinced than ever. He instanced, his j branch factory, where whey was being run into the river, no one wanting itTHE WOr.«Ti>V. Mr. Jarvis suggested that whey butter should 'be credited to the cheese account, instead of to the butter account. He asked whether the ehairj man considered it was* right that the i shareholders should obtain butter for ! I' (id. and then be paid out the iiildi- | lional 4'/.'d bonus on it. | In reply to Mr. .larvis, the chairman | -.tnted tlint there were :i lanre number j of veils on hand at present. ' The renJ net company had, unfortunately, not ! nroved :i success. Their own manager i had made a certain quantity of rennet. j Arrangements had been made to have phe veils manufactured at Hangatoki, I -Hid what their manager did not mnnuj racture would be sent there. The directors bed fixed the price this voar at 2= fid, 1- (Id, and 04. .-.cording to Made. It ivas considered tint if "was i l ™ expensive. In manufacture rennet I'villi v.'M- at 5= en eh which was 20 j i i'-ers (heir normal value. | Mr Patten considered that more de- | nreeiqfioi! fh.-r. £IOO should have been I written ofT the Tawhiti new factory i a,-.' ~]arl ,vhi---h had cost 1-7(175. | The chairman pointed out that in all ! c;;yn ],«,! p.,,,,, ivyiiien nf| the com.,a,uv'.- nrnpc'lv T.,v,-hif; f-Hnrv bad ii-.'C" lieili- al c-.1-'no „.],;,.], wp , V(l ,. y i pi He n i.oyo pre war 'u-ice. "Ur mV"I 1- ,-v (lie cost- ~» ;■<„■„„„ ee.enared vl'b faefnrins = nch as Neunokonni and M-m-rdoU who bad 1... H, 11,,;,. m v„ ctovaae. Mr r-orricnu eve'iined (hat Hrnse =Hnr-s ivere uedor f!- n eentrel of til" V.'esf ("Wt PnfrigeriCn.r Comnn„v. I l.vnr,-. ,vl,i„|, rn.,n'le.l I ' ,1 wv „„„,.,!. V,,vfl,ov clova.'e fnv vcHh V<* '""'" c ''"-" '" " ' '" -'iM -n-nvi.-V - •■■MYiiTin/'-'Vn •■ i,i:»:—,l ,10.000 crate- This would be nvailal.le in

Jamiiiry, and should provide sufficient accommodation for a year's output. In reply to Mr. Spratt, the chairman stated that the directors had taken up 40 shares in the Winter Show Com. pany, because it was recognised that the company bad assisted the farmers! by providing cool storage last year. The Winter Show Company had met them in a very manly way, and it was only right that the dairy' companies should. assist them to provide space in which to bold the show. The West Coast Refrigerating Company had taken 50 shares in the Winter Show Company, arid had circularised dairy companies, asking them to take up shares in proportion, and when this was adjusted tho "hares they had taken up would be taken into consideration. The shares would be paid out of profits, and would then be shown as an asset. The report and balance-sheet were then adopted. ELECTION OP DIRECTORS. For the extraordinary election caused by the retirement of Mr. A. L. Campbell, the chairman declared.Mr. C. Park elected as the only nominee. Mr. Gaworth. protested, stating be had gone to nominate a candidate for this position, but was told by the secretary that if. would not bo necessary, at the four vacancies would be taken in one ballot. He had, therefore, refrn ined. The secretary stated that, he had been under the impression that would 'be the procedure, Mr. Park placed himself i n the chairman's hands, and, after some discussion, the chairman having . obtained the consent of the meeting, decided to allow the nomination of Mr. G. P. Spratt. The election resulted:—For extraerdinary vacancy: C Park 293 (elected), G P. Spratt 1(50. For throe vacancies caused by the retirement of Messrs il E. Johnson, W. Henson, andF. Mills: )l\ V. Johnson 3-1 fl, O. H. Washer 300, W. Henson 200 (elected), F. Mills 213, G. i". Spratt 03. Mr. IT. A- Lennon was re-appointed auditor. GENERAL. The chairman stated that be regretted the manager (Mr. Dnulop) had been ordered away to Rotorua for three months. The directors bad granted him three months' leave on full pay. (Applause.) Mr. W. M'Donald, 'late of Mangatoki, would have charge during Mr. Duniop's absenceThe chairman stated that the electric waggon, purchased at a cost of £IBOO, was expected to land shortly. The chairman's honorarium was fixed at 100 guineas and the directors' at 15s per day, an amendment that the directors' fee be £l. and another amendment that it be 2s Od, being defeated. The chairman intimated that the company had been appointed distributing agents for the supply of benzine nnd kerstene .for suppliers' use for farm purposes only. A circular in reagrd to starting a. testing association was read from the Government. The chairman pressed on sunnliers tho advantages of this, and «aid the company would give every assistance. The Government fester (Mr Scott) was present, and at the conclusion a number of suppliers intimated their intention of joining the association. Jack of labor prevented "a number of others from joining A brief discussion took place over the nrice of veils, some suppliers holding (hat. as other companies; were paving "■'-. there was a likelihood of the Hawera. suppliers disposing of their veils to them. The chairman said that the company would, have to consider the question of housing their men. llega'ving sugar of milk, he thou->ht tba.t it might pay South Taranaki factories to co-operate in this, independent of the manufacture of cheese. He .(id not think there was any probability of the supply exceeding the demand.