DAIRY COMPANIES.

Taranaki Daily News, 13 August 1920, Page 8

DAIRY COMPANIES.

TAHIKI. The thirteenth annual meeting of the T*arikt Dairy Company was hold in the Tariki Hull yesterday, when Mr. W. V. Harkness, chairman of directors, presided omsi «n attendance of about sixty suppliers. REPORT AND BALANCE-SHEET. Tile annual report was submitted as follows: . Cheese made at the central factroy amounted to 208 tons, and at the Rugby Road, 203 tons; total, 412 tons At the date of balancing there were 943 crates of Tariki cheese and 1145 crates of Miro cheese In the works. Advances of Is 7d per lb, and the balance of working account would itlnw of another 3%U per lb. being paid out, bringing the total payments to Is M>4d. The actual payments will, however, be reduced by the special deductions of Vi& and Id per lb. which aro being made from Tariki and Rugby Road suppliers respectively. It- is proposed to pay out another 2d per lb. for the season on August. 20, and to make further payments as the cheese pets away and the (money comes to hand. The directors made arrangements for the installation of a butter-making plant. Statistics vere submitted as follows: Tariki: lbs. of milk 4,200,681,, lbs. of butter-fat 184,050, lbs. of cheese made 407,044, average test 4iSB, lbs. of milk to alb cheese 9.00, lbs. of cheese to lib butter-fat 2.13; Rugby Road: Lbs. of milk 4,190,718, lbs of butter-fat 179,851, lbs. of cheese made 4515,741, average test 4.29, lbs. of milk to lib of cheese 9.16, lbs.'Of cheese to lib. of butter-fat, 2.54. CHAIRMAN'S ADDRESS.

The chairman prefaced his remarks by welcoming Mr. Arthur Morton, president of the National Dairy Association. ■ He also apologised for,not having a prepared address owing to ill-health, but pointed out that lie would answer' any questions, fully recognising that this was the shareholders' day. He congratulated shareholders on the year's working, which had been very satisfactory. They had had no trouble in the way of consigning a selling becauso the cheese had been commandeered by the Imperial Government at' 10% d. This price, though it appeared a big one to them, was not, as compared with the ruling price at Home, and the Imperial Government appeared to have made use of the profits accruing from Now Zealand butter to make up the loss entailed by the high price given to the English farmer for his butter. They had manufactured 410 tons of eneesb, Tariki making rather more than Rugby Roa((. There was no disguising the fact that It was impossible to get a high test on honest methods, and they prided themselves at Tariki upon using honest methods. Touching on the financial position of the factory, he showed that of their liabilities, £7OOO was accounted for by share capicar, reserve account and sinking funds, whilst their assets showed that they had Invested in land and buildings, and shares in other concerns, £IO,OOO. This put them in' a splendid position when they went to the Bank for assistance. They had a considerable holding of shares In the Egraont Box Co., which had come in for a good deal of criticism in the past. He considered that it was now m » nrocn better position, having last year wiped off £IO,OOO. The great advantage was that they were able 1o get their boles from the company, which each meeting was refusing to take in companies from all parts of the North Island, which were anxious to become shareholders. He did not look on tlio Box Co. shares as assets becauso when the timber was worked cut there would he little left to divide .'.ir.ong the shareholders. They had invested £.!ll00 in the Freezing Works at Moturoa. and this he considered a -good investment, tho works being up-to-date; and a lilting monument to co-operation. At present the new portion was full of meat, they helnc awe to assist another co-oporaUve concern, regarding their investment in tho Rennet Company, he considered that this company which had been previously in the experimental stage, was now on an assured footing, last year having made a profit of £SOO and if farmers would only supply veils freely there was no doubt the company could supply rennet cheaply. If oil these had been left to private enterprise, thero was nri question but that they would have been exploited. The expenditure side showed that wages were a little higher. The directors were not out to cut wages These were increasing each year, and likely to increase. Ftiol also showed an increase, hut farmers were getting the benefit of this in the increased price received for the wood. Regarding depreciation, this had been written off as previously, and the team account, road account, No. 1 Bank account for hnlance owing on factory, had been wiped out.

Dealing with tlio whey butter question, he said that as authorised, tho' directors had ordered the necessary plant, and It was hoped to have It working in October. There was some delay in getting a refrigerator from Australia, where there were laborstroubles. Tho, factory, he said, had a quantity of cheese In their shelves which had been valued at 10y 2 d, but this had been sold since at an increased price, which means an additional £2SG to the enmpany. Local sales totalled £4715 and netted lO.aOd per lb , as against 10.24(1 which tne Imperial sales netted Last year their whey cream netted £531, whilst this year it netted £IOB7. A considerablegain would he nmie next year by manufacturing their own, and if for no other reason tho installation of tho whey hunror plant would pay. The directors had retained the services of the manager (Mr. McElroy) and the secretary (Mr. Perclv.il). Mr. Rumba II seconded.

Mr. Jones nnd others suppliers gave figures hearing out the chairman's contention regarding the saving to he made In malting whey butter. The report and balance-sheet were then adopted without further discussion. ELECTION OP DIRECTORS. For Tarlkl, Messrs. W, V. Burliness and A. E. Cowley, retiring directors, were e-clectod unopposed, whilst Mr. Nuttall wn» sleeted unopposed to nil the balance of the term of Mr. .Temlson, who has resigned. For Rugby Road, Messrs. W. ,T. Byrne and H. A. Rumba II were re-elected unopposed, whilst to nil the vacancy caused ny lite, retirement of Mr. W. Langman, there wore two nominations, the election resulting as follows: J. R. Jones 57 (elected), .1. Reovc .10. Mr. 0. Pullen was rc-eiected auditor. ALTERATION OF ARTICLES. A resolution wot carried altering the Articles of Association to provide, that each shareholder shall hold one share for every 200 lbs. of butter-fat Supplied anually, and that every share so taken up shall be paid for by deducting %d for every lb. of butter-fat supplied. Mr. W. J- Kendrick moved that steps be taken to alter the Articles of Association, so that ail shareholders «an vote for directors' at both Tsrlki and Rugby Road. Ho. pointed ' out that the present system of each branch voting for its own directors did not tend to give co-operation. Moreover, the company required the best brains of the district on Its directorate. The chairman pointed out that iwrt of the arrangement under which Rugby Road joined ;yas that Tarikl was to have the Majority on the directorate, and until such time as they bad paid off their indebtedness on the Rugby Hond factory, which at tho rate»ot' deduction would ho about 2% years, he could not favor any alteration. Tlren he would he prepared (o favor.broader lines, and have, the seven directors elected by shareholders Irrespective of what part of the district li'.oy came l'i'om. After further discussion the resolution was carried. GENERAL. .

Some discussion took p*.,» on, the uric* of Tolls, some milliliters holdiiiß that 2s (id not enough, whilst others considered that ills money earned hy saving veils was the easiest money earned on l.ho farm It wit ais.) pointed out that the more they paid for the veils the more Ilia rcimei: woutd cost t'iem. It was decided to nay.3s for first jtii.l». It was resolved to increase the dTeeton' honorarium to 15s per meeting, the ehdirman's being £25. Voies of thanks were accorded the retiring directors, Stessrs. .lomlson and Liingman. and to tlie manager and staff. Reference was mr.de to the siilend'/l record achieved hy the factories Of 01 factories grading at Moturoa, Tnrikl hart gained second place, and rtugby Bond (Mlro) fourth. ELECTION' OF CHAIItMAX. At a su'ijep.iient aneeting of djree.t n't, Jlr. W. V. Harkness was re-eleeied chairman. MAKETAWA. The twenty-fifth animal report and balancesheet of the M'nkctiitva Da.lry Factory Company, tc he laid before shareholders on Thursday, inth August, states: 'J'jie quantity of butter made was 130 tons lc.wt 0 qr. 141hs. The surplus amounts to £2,073 (Is lid, which will allow of a further payment to factory suppliers Of 2 7d per lb and to creamery suppliers of 2(ld per lb. which will bring she total payments to la 7 T-lOiha A per lii of butter-fat. To this will have to lie added the balance of equalisation fund payments for local sales when same is received. There were 593 boxes of butter in the freezing works at ths date of balancing, for which final payment has yet to'be received. The directors propose to mak« a. payment of. Id por Hi at the innttal meeting, and to mako further payments as the butter gels away and the money comes to hand. Suppliers for casein have had an advance

of 2d per lb of butter-fat and the account i at present Is overdrawn, owing to the advance on the dried product having been reduced It is etifldently expected that the i Anal settlement Irom the Casein Company, when received, will more than counterbalance the present deficit. The directors had purchased a house to provide accommodation for the first assistant, at a cost of £4OO. . Lbs of mll.lt received, 5,937,111; lbs of cream received, 28.C-1G; lbs of butter-fat, 200,700; lbs of butter made, 304,760; butter to lib batter-fat, 1.108 (><, average test, milk, 419; average test, cream, 43.5. KOHI. Tho eighth annual meeting of the Kohl Co-opera»lve Dairy Company wap held on Saturday, Mr. W. 11. Wntltins presiding. The balancti sheet showed a nctt profit of £2iM, out of which a bonus of ilvepenco was paid-to suppliers, malting the total-for butter-fnt Is lid. The chalrmau'a resignation was received with regret. Messrs Morrison, Watcrland, Langley ami Oliver were elected directors, Mr. E. C. Horner being re-appointed auditor. Tho salary of the secretary was increased by £25. and that of the manager by £SO. Summary for year 1919-20: Total butter-fat, 103 814 78"; average test, 4.03; milk to cheese, 98; total milk, 2,572,483; total lbs cheese, 205,570; cheese to butler-fat, 2.55. Mr. Langley was subsequently appointed chairman of directors.

lEPPERTON. The 28th annual report, or the Lepperton Co-operative Dairy Company slates: Cheese ma do amour.! cd to 239' tons "cwt 3(jrs 2411 i; whey butter made amounted to 4 tons ISc.wt :t(irs 2;ill>: and creamery butter made amounted to 1 ton Tcwt 3qrs 141b. At the date of iialanein?: there were 912 crates of cheese in the freezing works. In addition IliO crates had left the works for shipment, but final settlement for same hud not been received. Butter was made during the month of June from Mi.GiiClb of milk, and 2Sllllb of butter-fat. Thneso figures are Included In the totals given in the summary below. The balance, sheet shows that after setting as'de the sum of i;r.l)0 for rerraerton of overdraft, there renuvps ?he sum-of £4321 8s Sri for distribution This will allow of a further payment to Bunyllore of 4 4-5 d per lb of huttcr-fat, making a total for the season ofis 10 4-fld per lb of butter-fat, ill addition! to 5 per cent on share capita* Your directors propose to pay 2d nor lb tit the finquu! niesjhig, together with the interest on shares, and so pay» the balance as the ehcese gets away and the money conies to hand. You will lip afiktid to express an opinion as to the. advisability of receiving home-soparnte'd '< cream, and making butter as well as cheese. i The following particulars of output are given: Lbs of mill;, 4,9711,59911)3; Ilia of butter-fat, 207,811(1: Ha of cheese, ",::"-.Rfil: lbs of whey '; nutter, 11.H53: lbs of cre.i'nv-..' butter, 3122;' aierage feet, 4 1R: lbs of lail'. to i'l Of cheese, I 9.1T I lb« of cheesjs to lib ef liulus-fat, 2.01. '