DAIRY COMPANIES.

Taranaki Daily News, 14 August 1920, Page V

DAIRY COMPANIES.

TIKORANGI. The twenty-fifth annual meeting: the Tlkorangi Dairy Company was held In the Tokorangi Hall on Friday, when Mr. C. Foreman, chairman of directors, presided over an attendance of about 40 shareholders. CHAIRMAN'S ADDRESS. In moving the adoption of the report, and balance-sheet (already published), the chairman said that the directors had great pleasure in placing such a balance-sheet before them. The pay-out would, he thought, compare very favorably with any other butter factpry; in fact, he had not heard of one that had done so well. TSe flutter they had sold to the Home Government netted Is 7 l-7d per lb. Their over-run had been 18 2, and the test the highest the company had ever had. They had paid out is B%d per lb. butterfat to cream suppliers, and Is B%d per lb to milk suppliers. * They had, not received final payments for casein, but noped to make the payment equal to 3d per lb. butter-fat. They had since met the representatives of the Casein Company, and had made arrangements for next season'that should net them over 3d per lb. He briefly touched oft tho fact that the delegation sent abroad had returned, * and reported on the utilisation of milk products, etc , and a committee had been set up to watch th,e producers' interests. A reserve fund had been created as a set off against the share capital held in other companies, particularly the Box Company. He had heard It said that the company always had a credit at the tak, but he gave monthly figures showing that though at times they had a credit at the bank of over' £3OOO, they more often had debts ranging as high as £2400. It had been said that capital was not needed, but he* considered that the figures showed that more capital was required.

Mr. Smart seconded. Some discussion occurred over the casein expenses, which had increased from $93 to £2Ol.

The chairman stated that the casein account with their company was in a satisfactory position, ns they had kept it square'.' Whilst other companies had got behind from £2OO to £9OO. Mr. Hicks said that he had heard (hat some of their casein had beeft destroyed. The manager said that this was not an. Continuing the chairman said that some of the companies manufacturing casein had got into such straitened financial position regarding their casein account that the New Zealand Casein Company had aaked them to put a price on last season's cpsein in store at Arnmohn. The report was then adopted.

ELECTION OP DIRECTORS. Per the two vacancies on the directorate, there were four nominations, viz., Messrs. C. W. Sarten, G. E. Wills (retiring directors), J. H. Paulger, alld L. N. Faull. A supplier suggested that each of the nsw candidates should give their views, whilst another supplier asked whether they had fully paid up their calls. Messrs. Faull and P.nilger each briefly addressed the meeting, stating that they were not actuated by personal motives in standing. Regarding the shares not being fully paid up, they pointed out that the company paid Interests on fully paid up shares, and that If it were not convenient for a shareholder to pay them up fully, he suffered by not being paid Interest. 1 The election resulted; C. W. Sarten 166, G, E. Wills 152 (elected), J. H. Paulger 83, L. N. Faull 82. r Mr. A. J. Tunbridge was re-elected auditor. CO-OPERATIVE CASEIN FACTORY. The chairman asked the suppliers to give their consent to the directors joining in the scheme for the establishment of a co-operative casein factory, which It was proposed to establish either at Inglewood or Moturoa. The matter had been discussed, but he did not think anything 'could be done this season owing to the shortness of cement. To establish a drying plant would need a company with a capital of about £25,000, of which the company's share would be £ISOO. He pointed out that the establishment of such a company would mean that they would get all there was in casein. In reply to Mr. Hicks, the chairman said that It would mean increasing the capital of the Tlkorangl Company, as they .would not be able to finance without. Indeed, he expected difficulties In the way of flnnnce this year, and would be pleased If he could come before them next year and say that the company had not missed one monthly payout. Mr. Paulger asked whether the chairman had any idea of the outlook for casein Tn the future. The chairman said that in England firstgrade rennet casein was worth £llO per ton, and lactic casein £94. All they got at present was £46, the rest going to the compuntes drying the casein and shipping it home. Mr. Geo. Foreman said that the suppliers had every confidence In the directors, and should leave It to them. The chairman considered It advisable to allow the matter to drop at present! They would keep a close watch on the development of the project, and if they considered It advisable would call the shareholders together again. CARTAGE OF CREAM. In reply to Mr. Taulger, the chairman said that the company was considering the question of carting cream, ■ Mr. Paulger said that It was only necessary to cart cream every other day. If carted daily the expense would kill it. The chairman said that they made casein out of their butter milk. If they had to neutralise the cream this would not be possible. * Mr. Paulger pointed out that this had been done in the Northern Waltoa. The manager said that it could he done with a drying plant handy, hut not where the casein had to be sent away. He -onsidered that It would he a retrograde step to take cream every other day, The cream would be caried on a butter-fat bmia. Be

admitted. that a fair average butter coiild] be made iroin cream three or four days old, by doping it up with chemicals. j Mr. Paulger pointed out that factories up | North of Auckland that only carted their j cream three times per week, topped the grade 1 list. The chairman pointed out that this was a; new more on the part of the company. They would csrt every day for a start, though pos- j fsibly Intoi" they alight make alterations as! suggested. Mr. W. Voremao stressed the necessity of, permanency being given to the scheme if i started, so tiiat Hupptlers would not be lol't in the middle or thy season. GENERAL. The chairman was voted an honorarium, of £SO. At: tt subsequent (meeting of directors, Mr. 0. Foreman was re-elected chairman, INTERESTING COMPARISON. A comparison of the balance-sheet of the Tlkorangl Dairy Company for the last yoar, which was the 25th year of it* existence with that of its ninth year, makes very interesting feadlnij, particularly 5u view of the fact that the district wi:s an old settled one, and is now drawing its supply If anything from a lesser are*, as aulte a number have from dairying. In 1904, the butterfat recelred was 150,509 lbs., as against 2.90,898 lbs. last year, the butter made being 172,514 llw., aa against 344,136 lbs. The price paid out being 9.4 d per lb. butter-fat, as against Is to cream suppliers, and Is B%d to butter suppliers, and with casein added, Is 11%' d.. It is, however, from the bal-ance-sheet that one gleans the better Idea of the progress, the turnover in 1904 being £6969, as against £28,690 in 1920. Paid-lip capital has increased from £957 to £2841. Of the present directors, Mr, J. Whitehead was the only one on the directorate in 1904, whilst Mr. .Tas. Hlne, Junr., has been continuously secretary.

TIRIMOANA. The third annual meeting of s!;. : !"> of the Tlrimoauft -Co-op. Dairy Co.. v , was held in Eitham on Monday lnar., Air. K. C. Treweek presiding. Tho chairman. In moving the adoption* of the report and balauoe-sheef, congratulated the shareholders upon the good year they had had, the actual running expenses being less than In the prevlouß season. They had manufactured about seven tons more cheese than the previous year. When all moneys are received for the sale of cheese over the season, the directors estimated that the pay-out would be a fraction over la ll%d, which showed that the manager and directors had been careful in their management of the company's' affairs. The secretary had adopted the policy of reckoning the ratio from the actual amount of cheese sold, which was the only reliable bafils to show the results of the year's working to the shareholders. The retiring directors were Messrs. R. C. Treweek and H R. Jordan. The election to fill the vacancies resulted In the return of Messrs. MeWhirter and Booten. Mr. E. Parrott was rc-appolnted auditor. Mr. McWhirter, in moving that the honorarium of the chairmnn be tho same as last year, viz., £ls 13s, made feeling reference to the valuable work that had been done by the chairman during the year. He regretled very much thai ihc company was to lose the very valuable aecfstnnce of tho chairman through his remfivr.l from tho district, and be fell sure it would be n distinct los 9 to the company

motiop was carried unanimously, it was decided ':hat the d'rt'tfmv fee shbuld bo £1 per meeting. Mr. Buckeridge wr.s rr-appninted necreiaTy, hi* services being warmly eulogised. The manager was voted a bonus of £2," over las', year, and he briefly returned thanks. Air. Fny brought up the ones',lon of «fnet. nllint; (ho road past the factory, and moved that H bo a recommendation to the directors that; they approach the County Council with the view of Retting the road metalled at ris early a date as possible. The motion was parried. » A hearty vote nf slmnkr, and appreciation was accorded to the Fres* for excellence of the reports and Information that they were always pleased to place befcre the dairy farmera of the district. Ic, was mentioned thai; these reporls were of material bericflv to the dairy farmers of Taranakl. and tho mover considered than Taranakl was particularly for tnnate in having a Press that entered so carofully>for their requirements. The motion was carried by acclamation.

It was decided to open the factory every other day frAm Friday, the 13th Inst., for buUer-mnklng.