NORTH TARANAKI DAIRY CO.

Taranaki Daily News, 23 June 1920, Page 2

NORTH TARANAKI DAIRY CO.

ANNUAL MEETING. ' j The annual meeting of the NotUi Taranakl Co-operative Dairy Factory Company was held at the Urenul Holl on Wednesday, Mr. H. M Purdle, chairman of directors, presiding over au attendance of about 63 shareholders. ANNUAL RErQItT. The annual report was as follows: The directors have pleasure in presenting to the shareholders the statement' of accounts of the company for the year ended April 30, 1920, and It is very gratifying to see such a substantial increase In the amount of m:ilk received. The quantities of milk and cream received, and the figures relating to production are shown hereunder— Cheese.—Number of suppliers 39, quantity of milk received, Onaero 3,041,3581b, Waipapa 3,708,2831b, 0,809,6881b; quantity of but-tur-fat received, Onaero 124,0651b, Waipapa 156,2741b, 280,3391b; average test of milk 4.11 23,0721b; quantity of whey butter made 23,0721b; quantity of cheese made (factory weight), Onaero 341,5371b, Waipapa 415,7731b, 757,3101b; quantity of cheese made per lb butter-fat Onaero, 2.751b, Waipapa 2.661b; lbs of milk per lb of cheese, Onaero 8.901b, Waipapa 9.061b; cost of manufacturing lb of cheese, including management expenses and all other charges, etc. 1.66 d; average price per lb of butter-fat paid to suppliers for the year 2s 2d. Butter.—Number of suppliers 42; quantity of cream received 594,0441b; butter-fat received 216,6651b; average test of cream 36.47 per cent; quantity of butter made 268,99?1b; over-run 21.81 per cent; lbs of cream to each ■ lb of butter 2.251b; cost of manufacturing lb of butter, including management expenses and all other charges, etc. 2.60 d; average j.nce per lb butter-fat paid to suppliers for th* year Is 8«d. Tho sum of £290 9s lid has been wr.'tcen off for depreciation in addition to the sum of £209 17s Id, contributed by suppliers by deductions from their monthly milk advances, and there remains a balance of £12.31)0 JJ» 9d to the credit of profit and loss account. The directors now recommend a lurtber payment to milk suppliers of 8d per lb on but-ter-fat and to cream suppliers 4 lid par lb on butter-fat supplied during the IK mantbs covered by the balance sheet. Owing to the large amount of unshipped cheese on hand a bonus of 6d per lb will be payable to milk suppliers immediately and the balance as soon as all last season's cheesn is shinned. In moving the adoption of the report the chairman congratulated the sh.u-eUol.l3rs on the results achieved and said he fett sure rnat both butter and cheese supp'leri ware fully satisfied with the position of the comDany. Mr. I"urdle referred at length t> numerous items in the balance sheet, aft-it which he touched on the prospects for the ensuing vear and the co-operative marketing scheme now lieing considered by dairy factories It was really difficult at this juueture to give ( any reliable information as to fie conditions under which the season's produce would be marketed. One report was that the Impsrlal Government would not be commandeering the produce next year, but that It could be exported to the United Kingdom by factories to their own particular agents and then sold by them at the present restricted prices of Is 8d per lb for cheese and 3s per lb for butter. This should net the factories at this end about 2s 3d per lb for butter and Is 3d per lb for cheese. On the other hand another report from a reliable source stated that tho butter would be commandeered or that some system*of pooling the outputs would be arranged by the Imperial Government. Continuing, Mr. Purdle'kid he had been informed that the imports of butter and cheese into the United Kingdom during next season wore likely to be 45 per cent for butter and 30 per cent for cheese below requirements. If" this was so there ios no likelihood of a drop In price below 'the present restricted prices. \ Prospects for shipping, Mr. Purdle said, were beginning to look brighter and he had every hope that produce would be dispatched with more regularity than during the past season. The prospects for casein seemed very bright at the present time. The reply to a recent injuiry was £l2O per ton for hard white rennet casein. Providing that a co-operative casein company was formed In Taranakl »nd the casein manufactured under the best conditions It should return suppliers Od per lb butter-fat, which was a rather enticing proposition coupled with a possible pay out of 2:< 3d or 2s 4d if butter was manufactured. Up to the present the directors had been unable to make up their minds whether to continue the present policy of the company or to make butter only next season. As soon as something definite was decided in regard to tho handling of the output the matter would I bo dealt with definitely. In the 'meantime all the directors could do was to mark time '. and to continue the manufacture of both butter and cheese until July 31, when the pres- ' ent contract would expire. Mr. Purdle dealt i with a number of other matters and then formally moved the adoption ot the report A aumber of questions were asked and answered, after which the motion was carried. ELECTION OP OFFICERS, i Three nominations wero received for the two vacancies on the directorate, viz, M'essrs. H. M. Purdle and G. A. Qaustad (retiring directors), and Mr. Smith. A ballot resulted In the retiring directors being re-elected. Mr. A. J. Tunbrldge was re-elected auditor at a fee of £ls 15s. ; GENERAL, In accordance with notice of motion Mr. Herbert moved that the capital be Increased from £SOOO to £Booo.—The motion was secie onilod by Mr. Rogers and carried. The action of the directors in arranging for advances on a No. 2 account for the purpose of assisting suppliers In financing the purchase of cows was unanimously confirmed. Tlie chairman was voted a honorarium of r £IOO in recognition of his services during tho '• past year and a further resolution was carried h recommending the directors to vote bonuses - to all members of the company's staff In appreciation of their splendid services.