TARURUTANGI DAIRY CO.
ANNUAL MEETING. The annual meeting of the Tarurutangl Dairy Co. was held on Thursday afternoon. Mr. G. M. Longstaff (chairman of directors), presided over a good attendance of suppliers. Tho annual report stated that the directors had pleasure In once again congratulating the shareholders on the very successful year. The sum of £7710 9s 6d had been paid to cream suppliers, and It had been decided that a further payment of 4%d per lb. of butter-fat supplied during the year should bo paid at the annual meeting. When this amount was paid out the total payment to suppliers would be Is 7%d per lb. of butter-fat Supplied for the year, and this was considered satisfactory as the butter had realised a fraction more than Is 6%d per lb., so that the suppliers would receive more for butter-fat than the butter realised. There was a further amount due for butter from the Government which had not been Included in till halance-sheet and would be dealt with by the directors when payment was received. After nine years' service the manager (Mr. R. Street) resigned, and the directors felt they could not allow the matter to pass without referring to the good work done for the factory and suppliers by the late manager. The Quantity of butter manufacturedwns 142,2341bj.; the averago test was 38 02, and the over-run was 10.72 per cent. The total amount of cream received was 323,220%1b5., from which was obtained 122,D061bs of butter-fat. The report proceeded; The price of butter for the coming season has not yet been fixed but the prospects are particularly good and suppliers are requested to endeavour to increase their supply to the factory and take advantage of the very sound financial position and other benefits which this company Is able to offer to Its suppliers. The balance-sheet showed a balance on the profit and loss account of £2647 12s sd. In moving the adoption or the report and balance-sheet, the chairman said that, taken on the whole, tho position was a very creditable one, especially considering the way the pnee of everything had gone up during the year. As a matter of fact the company was one of the most substantial in tho district There was a reserve fund of £687 fls, and the decision of the banks to tighten up on companies would not affect theirs In any degree as they had a substantial balance to their credit, which was more than enough to pay tlm whole of the bonus due. Tho Interest paid by the company last year had amounted to only £1 4s 6d. The chairman referred with regret to the loss during the year of the factory manager (Mr. Street) and expressed appreciation of his work and loyalty to the company. He thought the directors had boon fortunate in their appointment of a successor. Mr Longstaff also referred to the fact that Air. Eynon, who had been a director for some time had sold his farm and would be leaving the district. He had been a great help In building up the company, and on behalf of the suppliers he expressed regret at his removal from the district, and good wishes for him wherever ho settled. He then moved the adoption of the report and balance-sheet. Mr. O. Rogers seconded the motion, which was carried without discussion. The election of two directors to fill the places of Messrs. Bishop and Eynson, who retire by rotation, resulted as follows: Messrs N B Bishop (58 votes), F. L. Bishop (28), E. Dixon (18), and C. Norton (16), the'flrst two being declared elected. Mr. Hugh Bally was re-elected auditor at the usual fee. The fee for directors was fixed at the same as for last year. A bonus of £lO was granted to the secretary, and the question of an Increase in his salary was referred to the directors. The chairman was voted a similar honorarium to that given last year (£10). A vote of thanks was accorded the directors for their services during the year, and an expression of appreciation of the work done by Mr. Eynon was greeted with hearty applause. At a subsequent meeting of directors, Mr I G. M. Longstaff was re-elected chairman. ' ;
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Taranaki Daily News, 26 June 1920, Page 2
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707TARURUTANGI DAIRY CO. Taranaki Daily News, 26 June 1920, Page 2
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