DAIRY COMPANIES.

Taranaki Daily News, 1 September 1920, Page 3

DAIRY COMPANIES.

CARDIFF. The annual meeting of the Cardiff Cooperative Dairy Factory Company, Ltd., was held in the Cardiff Schoolroom on night. There was an attendance of twentyone shareholders, and in the absence through Illness of the chairman of directors (Mr. W Bichards), Mr. 3, T. Belcher presided. ANNUAL REPORT. The twenty-ninth annual report for the year ended July 31, was as follows: We have to congratulate ourselves on our excellent season both as to output and return f»r butter-fat . To date of balancing, Is lOd per lb. has been paid out, which has been supplemented since by another penny. There is approxiamtely more, making 2s oyd when final accounts with the Imperial Supplies Department are adjusted. The summary showed that 7,985,390 lbs. of milk had been received, the average test being 4.02. The amount of butter-fat produced was 321,040 lbs., and cheese made amounted to 861.035 lbs., while 23,602 lbs. of whey butter were also made. The percentage of milk to cheese was 9 27 lb. and of cheese to butter-fat, 2.6S lbs. The balance-sheet showed the assets at £25,590 12s Bd, including Government cheese in store £11,610 12s Bd, the balance transferred from the working account being £3105 8s sd. The working account showed payments for milk as £29,429, and receipts front sale of cheese £37,354 las 9d, and from whev butter £1693 5s Dd.. Working expenses, including wages, ' maintenance, requisites, railage, office' expenses, eto,, amounted to £6300 6s sd, the largest item being wages £1405 6s 6d. THE DISCUSSION. The chairman then moved the adoption of the re-pout and ballance-sheet. He expressed the opinion that the past year had been very satisfactory indeed, being ohe of the best in the history of the company. He pointed out that the capital account delilt. had been reduced to £4916 3s 9d, which was most satisfactory when they considered they had assets to place against this of £2713 In Freezing Works, Box Company, and Rennet Company shares, making the financial position of the company very secure. In spite of the high cost of materials the company had come out quite as well as other companies of which he had the balance-sheets. Mr. J. Stewart seconded the motion, and aßked the chairman the position in regard! to wood fuel, as it appeared to him that the amount of £527 paid for fuel wis rather high. The chairman replied that although the item seemed heavy, they were no worse off than some of the neighbouring factories. One reason why they had to use so much fuel iu besauia the; bad such & graat length

of stoam piping, entailing a certain amount, of waste by steam. The manager (Mr. D. Cameron) said that the steam piping was now properly covered, thus reducing the former waste, of steam. The chairman remarked that the company had a good stock of wood on hand, which was a valuable asset in view of the labor shortage. A suggestion that the company should gd in for a motor lorry of its own did not meet with support. The chairman said that shareholders would notice from tin balance-sheet that the company possessed a fine range of buildings and plant, all of which was new and up-to-date. Renewals would therefore no(i cotrt much for many years to come. The question of an adequate water supply had, however, given the directors a good deal of thought, and would need attention in the summer when the river was lower. Regarding the, marketing scheme, the directors had not seen fit to join in with it. They had so'd the output for the coming year; and what they would do in the future he was unable to say at present. Mr. G. A. Merchant remarked that the question of pasteurisation had been discussed by the directors, and It was as well that suppliers should know that a pasteurising plant would be necessary in the- future, when cheese supplies became normal, and they had to compete in the open market. The question of Increasing the payments to directors for attending the monthly meetings was discussed at considerable length, and eventually it was decided, on the motion of Mr. C. Barker, seconded by Mr. D. Shannon, that the directors be paid. 12s for ordinary meetings and £1 Is for special meetings. Messrs. G. A, M'archant and A. J". Smith spoke against any Increase in tho payments to directors. i ,^>i ELECTION OF DIRECTORS. A poll for the election of three directors to All vacancies caused by the resignation of Messrs. W. Richards and J5. W. Hancock, and the retirement of Mr. J. T. Belcher by effluxion of time, was held and resulted as follows: J. T. Belcher 15 votes (eleettd); James Richards 12 (elected); P. C. Patterson 9 (elected)-; M. Bilski 7, and A. J. Smith 4. Mr. A.. Coleman was re-appointed auditor 1 for the ensuing year at a remuneration of £7 !7S. On the motion of Mr. Smith, seconded by the chairman, a hearty vote of thanks was accorded the manager and staff. . . A vote of thanks to the chairman concluded the meeting. A meeting of directors was held subse--quently, at which Mr. Belcher was unanimously elected chairman for the ensuing year.