ROTOKARE DAIRY CO.

Taranaki Daily News, 22 July 1920, Page 3

ROTOKARE DAIRY CO.

FIRST ANNUAL MEETING. Tho first annual' mcetins of the Rotoknre Dairy Company was held at the factory, H'estonn, last night, when Mr. H. Marfell (chairman of directors) presided over an attendance of about 18 'suppliers. ANNUAL REPORT, The annual report congratulated shareholders on the success of the company in Its Initial stages. • It showed that 849,894 lbs. of milk had been received, from which 89,545 lbs. of cheese had been manufactured; 9.49 lbs. of milk were required to make a pound of cheese, the yield being 2.53 lbs. of cheese to the pound of butter-fat. The average test was 4.15 and after writing off £6O 18s 8d preliminary expenses, and £147 4s Sd*" depreciation of plant and buildings, there remained a credit balance of £337 8s lid to be dealt with. In moving the adoption of the report, tho chairman said that the year had turned out exceedingly well despite the fact that -they had made a late start, and did not receive as much milk as they anticipated. Regarding the balance of £337, it was proposed to pav out a tnrther 2d as bonus, and to deduct %*d towards share capital. He considered that shareholders who had left the district should have Id deducted towards share capital. Mr. .T. 0. Taylor seconded. Mr. A. R. Davb said that he was more than pleased with the results of the flrst season and if they received the supply , promised during the coming season, would more than hold their own with any factory. The report was then adopted. It was decided to pay out the balance on the! terms suggested by the /chairman. i ELECTION OP DIRECTORS. ] On'the motion of Messrs. J. 0. Taylor and H. Rogers, it was resolved to Increase the directorate from five to seven. Mr, J, VV. Lovcll, retiring director, was re* turned unopposed to the vacancy, whilst Messrs. C. West and H. Kenny were elected to nil tho new seats. Mr. C. F. Footo was re-elected auditor. The chairman and other suppliers spoke eulogistlcally of the work of the manager, Mr; Whltcombe, who was accorded a hearty vote of thanks. A vote of thanks was also unanimously accorded the directors. .At a subsequent meeting of directors, Mr. K. Marfell was elected chairman. After the meeting an adjournment was made to the packing room, where a light supper was partaken of.