MEREMERE DAIRY CO.

Taranaki Daily News, 8 September 1920, Page 2

MEREMERE DAIRY CO.

ANNUAL MEETING. The twenty-fifth annual meeting, of the Meromere Co-op. Dairy Factory Co., Ltd., mas held in the schoolroom, Ohangal, on Saturday. There were twenty-five shareholders present, and Mr. J. ,Tomlinson, acting-chairman of directors, presided. ANNUAL REPORT. The annual report was as follows: V'otir dirrc'ors have pleasure in 'presentiij the tweity-flfth annual report and balance, sheet. The balance in hand after writing off.. £ij4l in depreciation will be sufficient to br ng pajrnents for the season u*> to .s 11 1-Sd." I'ie seppon tinder review has 'innilirtjd the enntract for sale to the Imoerial Cnvernmj rit, and we now have to decide as to what marketing policy we will adui.e for the omii'g year. You are all familiar with the f.ict that the Co-op. Wholesale Society of England sent delegates to New Zealand for the purpose of endeavoring to establish some method of joint marketing with the producers, but the arrangements will probably not be complete in time to deal with the coming season's produce. The marketing prospects for next season are, however, particularly favorable, and, other conditions being satisfactory, the dairy industry should realise ■I. record season. A good deal of consideration has been given to the question of whether cheese or butter will be the better proposition, and your directors considered it advisable to be in a position to make either. With this' object in view a new churn has beeu installed and the butter plant brought up to date. A new engine has also been installed recently. Our chairman, Mr. D, J. Williams, being absent on a visit to England, Mrs J. Tomllnson was appointed actlng--ehairman for the balance of Mr. Williams' terra of office. Mr. D. J. Wllllaina now retires from the board by rotation, ng also does Mr. Catfley. The former is eligible for reelection, but the latter, having sold his farm, will not bo available. Mr. G. R. Lacey has given satisfaction during hi 3 term as manager, and has been re-engaged for the coming season. The following statistics were attached to the report: Lbs. milk received, 9,208,993; lbs .tutter-fat, 844,188; average test, 3.715; cheese manufactured, 416 tons Slbs; lbs cheese from lib butter-fat, 2.722; lbs milk to lib cheese, 9.90; cost of manufacture per Jh cheese, 155 d; cost of manufacture per lb cheese (including depreciation), 1.72 d: cost per lb f.0.b., 1.'97 d; lbs butter made, 21,059. Used for cheese-making: Lbs. milk 9,225,995; lbs butter-fat, 342,282 ; average test, 3,709. Tho chairman, in moving the adoption of the report and balance-sheet, said he was very pleased to say that tjio company had experienced another very successful season, despite tho fact that the .cost of'manufacture had increased. The prospects for the cming season appeared to be very bright at present, and should the climatic conditions prove favorable the company should be able to report a good increase In production during the present year. He would impress upon every supplier the necessity of increasing production where possible, as !t was only by jn.'.'eased production that thoy could in-

crease the wealth of the Dominion and lessen the load of taxation. In ri'mectlon with the balance-sheet, in regard to their liabilities and assets, ho would point out that the coml»any was In a good financial position, and in this direction there was nothing to fear, The shares held By the company in the various co-operative companies wore all of a sound charactor, and the company. was to-day enjoying the many advantages of the co-oper-ative concerns with which they were connected. With regard to the property account, they bad allowed 10 per cent, depreciation over all property and plant, but he

would suggest that these V>o assessed under separate headings, as this would assist in arriving at a more concrete basis of depreciation of property and machinery. Sharehcidors would have noticed by their balancesheet that there was almost a general increase in tho make up of manufacturing charges, the to*«l increase in all amounting to over fi1."50. Freezing charges alone accounted for £562 I!>S 2d, In Comparison with the previous season. This statement, however, was rather misleading, because in tho previous year they had received a refund of something like £6OO before the end of the financial year, whereas no rebate at all had

teen received daring the past season. He did not think tliey were likely to receive any .rebate, because the Freezing Company liad to increase their freezing capacity. However, he hoped to be able to cut their expenses down a little this season, as there were good slocks on hand which the company had been able to secure at reasonable market rates; He did not think there was anything further to place before the shareholders in connection with the balance-sheet. The report and balance-sheet were adopted after one or two questions had been satisfactorily replied to. THE DIRECTORATE. For the two vacancies on the directorate five nominations were received, --and the ballot resulted In the election of Messrs. J. E. O'Shea and J. ICerrisk. GENERAL. Mr. H, A. Lonnon was re-appolntod auditor at a fee of 10 guineas. It was decided that the directors receive £1 Is por meeting. It was also decided that the dale of the annual balance be changed to June 3D, an/J that tho date of the annual meeting be the first Saturday in August. It was resolved to pay 2s Gd for first grade ; and Is Gd for secpnd grade veils. Votes of thanks were accorded' the chairman and directors and also to the secretary | and s:alT for their services during the past year.