DAIRY COMPANIES.

Taranaki Daily News, 12 August 1920, Page 2

DAIRY COMPANIES.

KAIMATA DAIRY CO. ANNUAL MEETING. The eighth' annual meeting of shareholders [ of the Kaimata Dairy Company was held at' Kaimata on Monday night, when Mr. A. E. Burwell, chairman of directors, presided over an attendance of about 45 shareholders. REPORT AND BALANCE SHEET. The annual report showed that the amount of cheese cnadc during the twelve months was 325 tons. There waa 1733 crates of cheese in the freezing works, and 140 crates in the factory. The directors recomfaended that £282, being a farthing per lb butter-fat, be set aside out of the surplus account and placed to the credit of Sinking Fund No. 1. The balance then remaining would amount to £4698, which Will allow another 4d per lb of butter fat to lie paid out, making a total for the season of 2s per lb. It was proposed to pay 3d per lb at the annual meeting, and to pay the balanfce as the cheese got away and the money came to hand. The following statistics were supplied: Cheese, 730,0351b5; whey butter, 18,2711b5; butter, SOOlba; milk, 6,091,7401b5; butter-fat, 270,9121ba; average test, 4.04; lbs of milk to lib cheese, 9.16; lbs of cheese to ■lib butter-fat, 2.69. In moving the adoption of the report, the chilrman expressed pleasure at the year's workings, the balance sheet being the best they had ever had to discuss. Four or five factors accounted for this. They were that the autumn had been a good one, the supply had Increased, the manager and staff had worked with a will and had exceeded beyond their expectations. The directors, too, liad always acted on the advice of their secretary. The output showed an increase of 37 tons. The make of whey butter had increased from 10,0001bs to 18,0001bs, having realised £1255, sufficient* to pay all wages and repairs, a record to be proud of. Tho yield, 2.091b? of cheese to each pound of butter fat, was also aif exceptionally good one, and the manager deserred congratulation upon the excellent results achieved. Ha briefly touched in the company's Interests in other co-operative concerns, remarElng aa regards the rennet company that all that was require'-- 'o'onaure Its success was a supply of veils, tat which they were offering 2s 6d. In view of he company having eitlier to shift Its factory, >r go in {fir a drainage scheme they had Gr<m,«t-a sustenance account. Shareholders and illrectors had had a strenuous time last year, no fewer than eight meetings being held. He had favored shifting the factory, but as matters had developed he was pleased they had not. He would like them all to recognise that the directors, in regard to this matter, had tried to carry out the wishes of the Dairy Division. Since then it had been recommended that they should adopt a drainage scheme if feasible, and he read a report from Mr. Sturroek regarding several schemes, and recommending a gravitation scheme to the Manganul River. This scheme the directors had adopted at an estimated cost of £18,017. and they, with six other suppliers, had signed a Joint, and several for £2500. It had been agreed to deduct Id per pound of butter-fat to meot this, and on last year's make this should cover the cost in two years. Mr. J. Colllngwood seconded. The resolution was carried without discussion.

ELECTION Off DIRECTORS. There were nine nominations for the seven seats on the directorate, anil the following were elected: Messrs. A. E. Burvveil, J. Dobson, G. L. Bocock, J. H. Dobson, A. P. Perrott (re-elected), W. Corby and J. W. Colllngwood. Mr. G. Pullen was re-elected auditor, the fee being Increased to £7 7s. GENERAL. It was resolved that tho £354 received from the Imperial Government as rebate on storage on the 1918-1919 season be placed to the suspense account, and used to meet preliminary and othGr costs of carrying out the requirements of the Dairy Division re drainage, etc. The directors' honorarium was placed at 10s per meeting, the chairman being voted an additional £2O. Votes of thanks were accorded tho directors, manager and staff, secretary, the Press, and the chairman. ELECTION OP CHAIRMAN. At a subsequent meeting of directors, Mr. A. E. Burwell was elected chairman. RIVERDALE DAIRY 00. ANNUAL MEETING. Tho twenty-sixth annual meeting of shareholders of the above company was held I at the factory on Monday,* Mr. J. S. McKay presiding over a good attendance. The chairman, in imoviug the adoption of the report and balance sheet (already published) congratulated) shareholders Ciil another successful year. The price paid out was a record for the factory, and the test also has been a good one. Reference was made tn the report of the delegation appointed to inquire Into the dried milk, sugar of milk, and other milk products, but the chairman did not think auythlng could be done In this direction on account of the shortage of coal. They had hardly enough coal for the manufacture of their cheese. A month or so ago It looked as if they were going to have a butter season Instead of cheese, and theiir dlri ectors were fully alive to the possibilities of this. They therefore bad the butter plant thoroughly overhauled, renovated, and made ready, for use If required. The reason for increasing the holding of Box Company shares from 1840 to 5000 was explained, and a hope expressed that that company would again pay Interest on capital; some people argued that If they made cheaper boxes and crates it was equivalent to paying interest, but If the Box Company did not pay interest on capital the Riverdale Company would have to consider the advisability of setting aside a reserve equal to 6 per cent, per annum on their paidup capital in the Box Company, because It would not be a fair thing for present suppliers to reap tho benefit of cheaper boxes and not assume their share of the contingent liability. The Rennt Company had had another success, ful yea?. Their manager was now in the position of being able to manufacture rennet equally as good as the Imported article. His only requirement was veils. The more of these, he got the cheaper would be the rennet, because ho could manufacture double the quantity at exactly tho same expense. He would ask suppliers to save all,the veils they possibly could. He considered 2s 6d each for first grade .veils would be a good paying proposition, and he did not think the company should again show a loss of £l2B in their next balance sheet under this heading. With regard to the Bacon Company, most of them were not satisfied with the price paid, and the reason of that was that the overhead expenses of a big concern were so heavy that they did not get the quantity of pigs to enable them to reduce the cost of the finished article. The works had a killing capacity of 3000 sheep, 200 cattle, and 1000 pigs dally, and altogether represented one of the most up-to-date works in New Zealand. The inauguration of herd-testing last season had been a success, and the Government Department intended to continue It. With the advanced price of land it was important for farmers to lest their herds to find out the robber cows. The prospects for. the coming season were extremely good, a.id would probably remain so for a year or so. The world supply of foodstuffs was very short, and until those countries which had been devastated by the war and those that, were still In a revolutionary state settled down to produce again, prices would remain high. In regard to the suggested C.W.S. marketing scheme, the directors were unanimously of opinion that it would not be in the best Interests of the Riverdale* Co, to join up with the C.W.S.

The chairman then briefly referred to a few items in the balance-sheet, and explained the item of £1234 in the appropriation account, rebate on storage. The store had' had a successful year; they had paid a 10 per cent, cash rebate on store purchases, and carried the balance of their profits to store reserve. In conclusion he expressed appreciation of the manner in which the manager and staff had carried on their business during the past 12 months. The report and balance sheet nere adopted. SPECIAL RESOLUTIONS. Mr. A. Murdoch moved the resolution of which he had given notice, viz,, "That the clause in article 4 of the Articles of Association dealing with the amount to be deducted frpm butter-fat supplied by members In payment of shares be altered to read: "Such shares to b$ paid for by the deduction of one-halfpenny ' Vfed) Per pound of butter-fat supplied by such member.' " Seconded by Mr. Wilcox and carried. DATE OF ANNUAL I.IEETING, Mr. Sinowden mqped: "That article 16 be altered to read the third Monday i» August in each year."—Carried. .YELLS AND RENNETT. On the motion of the chairman It was resolved to pay 3s, 2s and Is for veils for the coming season. The Rennet Co. was going to pay 2s 6d, 2s and Is. Suppliers could bring their veils to the factory as soon as they had them ready and dry, and the company, as soon as it had a box full, would send them on to the Rennet Co. There would be no delays this year. The price paid for New Zealand rennet Was about the same as the Imported article. Mr. Snowden considered that they owed

ilebt of gratitude to the New Zealand Rennet C„o.. for starting the manufacture. Had they not done so It was conceivable that factories might not have been able to make cheese. In reply to a question, the chairman said that although they had passed a resolution at last annual meeting not to supply hot water, they had found that an alteration had enabled them to continue supplying hot water, and they continued doing so, and would keep It going. The company would pay out its bonus as soon as the money was available, but he did not think it would be on the 20th. DIRECTORATE. There were three retiring directors, Messrs. A. Murdoch, F. Livingstone and J. A. McCallum. Mr. Livingstone, on account of Illhealth, did not seek re-olectlon, but the other two again offered their services. In addition, Messrs. E. Bourke and F. Q. Wilcox were nominated. ' A ballot resulted as follows: K Bourke 204, A. Murdoch 219, J. A. McCalium 164, F. 0. Wilcox 104, The first three were, therefore, declared duly elected. Mr. U. A. Lennon was re-elected auditor at the same remuneration as last year. On the motion of Mr. Wilcox, the chair, man's honorarium was increased from 7B guineas to 100 guineas. A vote of thanks to the ataff terminated the meeting.