DAIRY COMPANIES.

Taranaki Daily News, 14 August 1919, Page 8

DAIRY COMPANIES.

KAIMATA, The Annual meeting of the Kahnata Dairy Company was held 011 Tuesday evening, Mr. G. S. (Jidd.v presiding, and there being about 50 suppliers present. In moving the adoption of the annual re- J port and balance-sheet (appearing elsewhere In this issue), Mr. Giddy referred to the absence through Ihe resignation of the late chairman of directors, Mr. (?. I>. Davidson, who had recently sr>ld out. and shifted to the north. He detailed the <jillicnliips that confronted the directors soon after taking up office, Including the epidemic. The state of the dam had caused considaniblo anxiety, and temporary improvements had been effected. This matter, however, would have to he dealt with immediately. Proper drainage was imperative, or else the factory would have to be removed to another site. Mr. H. Jones seconded the .motion. Several questions relating to Ihe balancesheet were asked by suppliers, and explained by the secretary (Mr. W. 12. Perclval-. Mr. Capper inquired as to the cost of the temporary dam, nad who was responsible for the trouble that befel the old one. The chairman explained that heavy floods alone were responsible for the damage. Thu temporary repairs cost about £IOO. The epidemic had interfered with prompt action. In reply to Mr. L. Klcnner, the secretary stated that the increase in the item for requisites was due to the increased prices of same, which were enormous. •The chairman also ajrnke of the great increase. "Some," he said, "were enough to knock you down." The motion was then put, and carried without dissent. The election of directors resulted as follows: G. Giddy 19, Jno. Dobson, A. E. Burwell 18, S. Madgewlck, P. Peterson 14, ,T. Klenner, L. Bocock, E. Death 12, A. Klcnner, F. Beesley 10. The first five were elected, and three secured 12 votes each, and as two more were required, another ballot was held resulting in E. Death 15, J. Klenner 13, and L. Bocock 13 votes. In a draw from the hat for second position, Mr. Bocock was successful Mr.. P. Peterson's notice of motion regarding the alteration of the Articles of Association re the election of directors, was discussed, and defeated on a show of hands. The chairman referred to the petition to the Government regarding the butter-tax, explaining what had been and was being -done. Mr. Capper moved that it he a recommendation to the directors to procure a motorlorry at the expiration of the present contract. Seconded by Mr. Dobson. Mr. Madgewlck favoured the proposal, and suggested that facts as to the experience of other companies be ascertained. Mr. Peterson reminded the meeting that a contract existed for the next two years. The motion was carried. The directors' honorarium was fixed at the same rate as laf>t year. It was decided In defer consideration of the drainage question until a later date, to be fixed by the directors. Mr. Capper paid- a tribute to the wort of the manager and staff, and a vote of thanks to them was carried. At a subsequent meeting of directors, Mr. Burwell was elected chairman of directors for the ensuing year. After the meeting the shareholders and visitors were entertained to light refreshments. During the evening, Mr. Macky referred to the loss the district had sustained by the demise of tiic late Mr. T. E. llammerton, who for many years past had attended the annual meeting, and who always took a keen interest in the affairs of the district. Mr. Chas. Hammerton acknowledged the tribute paid to his late father.

WAITOITOI. The fourth annual meeting of the Waitnltoi Dairy Company was held at'the factory yesterday, when Mr. J. F. Phillips, chairman of directors, presided over a fair attendance of shareholders. REPORT AND EALANCE-SITEET. The directors regretted to note a decrease of 254.H1T. lbs of milk. The milk received totalled 3,218,268 lbs, containing 12G,7."3 lbs. butterfat, an average test of 3 W per ceut. Cheeso made (factory weight) 340,000 lbs . being !i 40 lbs. milk per lb of cheeso The yield was 2.68 lbs. cheese per lb. of lmttcr-fat. Acting on the inslru lions of the shareholders, a further £|W® hhd been transferred from the profit and loss to reserve account. The directors considered it more important to Strengthen the position of tho company, rather than pay out the last fraction possible, and had written off £7OB ifis 3d for depredation, leaving a credit balanco of profit and loss account of £2GO3 7s 3d. Tho directors recommended a further payment ot shareholders of rid per lb. of butter-fat supplied, making a total payment of Is lOd per lb. The following are the quantities and averages compared with the previous season in parenthesis:—Number of suppliers (13), 13; milk received '<3,573,183 lbs), 3,218,268 lbs.; butter-fat (139,312 lbs.), 126,753 lbs; butterfat from cream (832 lbs), 2586 lbs.; cheese made (367,000 lbs), 340,000 lbs; lbs. milk per lb. of cheese (0 40 lbs.), 946 lbs.; lbs, cheose per lb. of butter-fat (2,634 lbs), 2.68 lbs.; average test (3 9 per cent.), 3.93 per cent); average price per lb. butter-fat (21d), 22d; average grade cheese (00 23), 80 84 ; average grade whey butter (87 04), 86.27. The balance-sheet showed that cheese sales totalled £14,778 4s 3d. and butter sales £762 18 lid, the total receipts being £15,553 ss. The principal items of expenditure ware: Salaries and wages £691 4s lOd, fuel £255 13s 2d, repairs and renewals £OO 4s Gd, interest and insurance £343 10s 4d, cartage and freights £348 15s 4d. freezing and porl charges £294 10s 4d, factory requisites and cases £6OO 14s Bd, trade expenses £56 14s Cd, reserve account £4OO, depreciation written off £7OB 15s 3d, honorarium to chairman £lO, employees' bonuses £45. The sum of £1)108 lis lOd had been advanced to suppliers, and there was a balance remaining of £2608 7s 3d. In moving the adoption of the balancesheet, tho chairman stated that he would i liked to have seen a better pay-out, but the i supply had fallen off, due, as was the case ■ in other companies, to the shortage of feed | and the bad season. However, the prospects i for the coming season appeared to be brighter, j as there was a probability of an increased ; number of suppliers. He urged all to en--1 deavour to produce as much as possible. Mr. A. Smith seconded. The secretary pointed out that the clieeso 1 output had decreased from IC3 tons last yeaT to 152 tons this year, a decrease of 11 tons, Whilst the cost of manufacture had risen from .y6d to I.oßd per lb. cheese, or 2 0 per lb. of butter-fat. In this calculation he had not Included the extra butler manufactured. In reply to Mr. Spurr, the secretary stated that, including the butter and cheese manufactured therefrom, a pound of butter-fat would realise 2s sd. Tho cost of manufacture to fob. was 5d per lb. butter-fat, and in- ! eluding depreciation and reserve, it was 7d Mr. Spurr remarked that at Is per lb. butterfat there would not be much left for the supplier. The secretary agreed that this was so Unless tho cost of requisites came down, and at present there did not appera to be much jrosI pects of man? Items coming down ELECTION OF DIRECTORS. A vote of thanks was unanimously accorded 'Mr. R. Sutton, the retiring director. The ' chairman, in moving the resolution, referred ! to the valuable services Mr. Sutton liaft ren--1 deretl the company, being always .it their i call. In one item alone, Mr. Sut on had saved £IOO. Messrs. J. R. Sly and P. Spurr, t'ie two retiring directors, were unanimously re-elected unopposed, and Mr. A. D. Carr was elected unopposed in succession to Mr. R. Sulton, who is leaving the district. Mr. Tunbridge was re-elected auditor at the v same remuneration.

AN APPRECIATION. The chairman spolte in high terms of tho good .work performed by the manager (air. W. Taylor), and staff during the season. The previous year the manager obtained a yield of 2.63, which was only excoedml by one oilier factory. This year, he had gone one better, and obtained a yield of 2,03. and this extra .05 meant £2OO to the suppliers. It was unanimously resolved to vote the tnual bonus of £25 to tho manager, £lO to the secretary, and £5 each to the buttermaker find assistant. They were also accorded a vote of appreciation for their work (X-'ing the epidemic. manager, In acknowledging, referred to tii» instance rendered by suppliers in paying attenti on tn tlle quality of thoir milk. He notnted ouf »'>«t writing off 15 per cent, depredation aiitf reserve fund was a hig hurdle for the factory IP carry, and represented over 2d per lb, In the piiy out. The chairman »™« voted an honorarium of £l °' A PLEASING FUNCTION. At the conclusion of tho meeting those present were entertained to afternoon lea by Mrs. ,T F Phillips, wife of Ihe chairman, the «ood fare provided being dispensed hy Mrs. and Miss Phillips, assisted hy a number of ladles of the district. Before tile meeting closed Mrs. Phillips was • accorded a vote of thante for her thoughtful action, which was greatly appreciated. ELECTION OP CHAIRMAN. Jtr, J. V. Phillips was unanimously re-