DAIRY COMPANIES.
NGAERE, | ANNUAL MEETING. The annual meeting of tho Ngaero Dairy Company whs held at Ngaere on Tuesday. There was an attendance of about 45 shareholders, and Mr W. Morrison, chairman of directors, presided. Thb twenty-sixth annual report stated that the balance-sheet afforded manor for congratulation. The yield of cheeso had been remarkably good, while the Quality had retained its high standard. Suppliers had received Is per lb for butter-fat, and the balance of working accounts showed another 3 11-16 d to allocate, making a total of 2s 23-16 d. Ay a large quantity of cheese remained to be shipped, and there were large recoveries of storage, charges to bo made from the Government, tho dates on which bonuses would be paid were uncertain. The directors recommended that tho pay-out .should be limited to 2a 2d and the surplus retained as a reserve to help to meet tho coming expense of providing dwellings for married members of the staff, a provision that was becoming general in tho Industry. The following figures relating to cheese-making were given: Lbs, of milk 11,953,458, average test 3.56, lbs of fat 4til,Gir>, lbs of cheese (factory weight) 1,276,162, lbs whey butter 36,343, lbs milk to 1 lb. of cheese 9.37; lbs. cheese to lib. butterfat 2.7 G. Tho working account included the fololwing items on the expenditure side: Milk £43,276 2s lOd, wages £2302, requisites £1043, packing material £1245 t depreciation £531, railage storage and marine Insurance £lOBl. Tho receipts totalled £58,141, inching cheese £55,392 and whey butter £2702. The credit balance amounted to £7094. The Burplus account showed tho following Items: Extra payment for butter-fat £7831 16s, reserve £3Ol, chairman's honorarium, directors' fees £lll, cheese suspension account surplus £225, butter equalisation fund £174, refund butterfat tax £l4. The chairman moved, and Mr Coleman seconded, that the report and balance-sheet be adopted. Mr J. Thomas said> he noticed that It was proposed to keep back a certain amount' for married men's houses. Ho did not think that was fair. Suppliers should act be asked to provldo for the future. ile would rnovo that that part of tho report be deleted. The chairman said they had to provide accommodation Tor their employees, and havinghad a very good season the directors thought, they should lay something sslde for this purrose. Tho directors had power quite apart from the shareholders to do this. : Mr Maxwell considered that the directors (should bring down a schome for the suppliers' i approval. lie was opposed to the present proposal. About four out of every five had sold out. and It was not fair to ask these to provide money for homos for employees in the future. The chairman said they were not there to consider tho man who took up farming to sell out at a profit. If tiiey did sell It was only right that they should leave something behind} them. The directors proposed to purchase a piece of land and build as opportunity permitted. Mr Thomas said it had been tho custom In the past to let tho future pay for the past, ir building* were necessary they were quite strong enough to go to tho bank for finance. Mr. Maxwell, in seconding said he quite agreed that tho cottages phould be built, but the money should be provided In a different way. Tho workers should in this ease, as In all others, bo called upon to pay for the iiouses. A Supplier: Wo will either have to pay ! higher wages or provide houses. Mr Or.lennm said the directors were merely ; j giving tho suppliers a chance to say whether j I after a «ood year it would not be wise to luy I aside a certain sum for the purpose In view. Replying to a question, tho chairman sail!, they could not pay wages below tho award,! and it was not Intended that those using the houses would pay rent. . A supplier said it was much easier to keep a married man than a single imin in the em- i ployment they had to offer, and the only way to ireep married men was to provide houses for them. The proposition made by the directors seemed to hint to be sound.' Replying to further questions, tho chairman said that two cottages at least were necessary. This seasrn they had only one married man, but, last season they had lost a married mini because they could not provide a house. Mr Thomas said he wished It to bo clearly understood that his amendment was not against tho provision cf housed, but against tho proposed method. Tho amendment was lost on tho canting vote of the chairman. Tho report and balance-sheet were then adopted. The following were elected directors: Messrs \Y. M. Morison, Tennington and Walker. Mr j H. Thomas was re-appointed auditor. In reply to a question, the chairman said that they were purchasing dry sharos for 12s Cd In tho £ paid up Mr Thomson said that the directors could if they pleased compel dry shareholders to sell back their shares. Tho chairman's honorarium was fixed r*s formerly, and the directors' fees were raised to 15s per day. A veto of thanks was passed to tho managed and staff. PUNGAHEHU. {From Our Own Correspondent ) Tho twenty-second annual meeting ot tiie Cape Kgmout Co-op. Dairy Company, Ltd., was held at Pungarehu recently. Mr. M. Fleming, chairman of directors, presided over a good attendance, of suppliers. The yearly report congratulated shareholders upon n very satisfactory season, under tho circumstances, considering the company was hit very hard by the epidemic of last year. Tills season they had nlread\ paid out Is 7d and it was estimated that after writing off for depreciation of p!;:nt and buildings, £344 14s 7d, there would be another 4d available, making a total of Is lid for the season, and carry forward a small balance. The business of the store department had been well maintained, and there was a surplus
shown of £628 17s lOd. The year's profits had been placed to a contingent fund. The statistics accompaning the report were as follows: Pounds of milk received 8,329.500; Ills, of butttr-fat, 320,914; lbs. of cheese made 858,493; lbs. of milk to lib. cheese 9.76; lbs. cheese to lb. butter-fat, 2.66; average test, 3.85; milk at butter factory, 103,580 lbs.; butter-fat 4360 lb.; creamery butter made 5154 lbs.; over-run 18.4; average test 4.2. Whey butter to the value of £1559 0s 4d was manufactured during the year. The balance-sheet, showed that £25,009 10s Td had been paid out for milk. Stores and requisites totalled £l7lO 9s lid, fuel £OOI lis, salaries £1892 0s lid, repairs £O4 9s 11(1 depreciation £344 14s 7d, Insurance £4l 8s sd* while £34,208 13s Id had been received for sales and £lß4l 0s 9d for butter. The chairman, In moving the adoption of the roport and balance-sheet, said that although the year's work had been somewhat hindered owing to tho epidemic, he thought In comparison that tiles' were nearly as good as other companies in regard to tho pay-out. If they continued to work togothcr the company was miro to continue to progress. Much of the success was due to the suppliers, who were improving their herds, and also to the manager and staff. Mr. W. 11. Wright Beconded the motion, which was carried unanimously without discussion. The chairman read a letter received from the company who presented the cup for competition at the recent New Plymouth show for the best cheese open to all comers, which was won by the manager, Mr. T. VV. Guild, congratulating him on his services. On the motion of the chairman, a hearty vote of appreciation was passed to the manager and staff, whose work he folt sure wts as satisfactory as that of any other factory. The two retiring directors were Messrs. P. Brophy and Thomas Harvey. Por the two vacancies, Messrs. P. Brophy and E. Taylor, in place of T. Harvey (resigned) were elected Mr. G. \V, Rogers was re-appointed auditor.
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Taranaki Daily News, 18 September 1919, Page 2
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1,337DAIRY COMPANIES. Taranaki Daily News, 18 September 1919, Page 2
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