DAIRY COMPANIES.

Taranaki Daily News, 10 September 1920, Page 2

DAIRY COMPANIES.

PUNGAREHU. ANNUAL MEETING. (From Our Own Correspondent.) The twenty-third annual meeting of Hie Egmont Co-operative Dairy Company was held in the Purigarehu Public Hall on August 31st, when Mr. M. Fleming, chairman of directors, presided over an attendance of about forty shareholders, including ladies. REPORT AND BALANCE SHEET. The twenty-third annual report congratulated the shareholders on a successful year's working, despite the fact that the prices of all goods required for manufacturing purposes were still at an abnormal figure. After writing off £307 for depreciation, there remained a balance of £4729 2s 7d for further distribution, which will provide 5 per cent interest on shares fully paid up, and a further payment of 3d per lb over the whole year, bringing the total payment for the year up to 2s per lb for butter-fat, leaving a balance of £B7 5s 5d to be placed to a contingent fund. The following statistics were supplied, those of the previous year being In parentheses:— Lbs of milk received, 9,149,635 (8,329,500); lbs of butter-fat received, 348,752.0 (820,911); cheese (manufactured, 919,9881bs (853,4931b5); lbs of milk to lib. of cheese, 9.945 (9.75); lbs. of cheese to lib of butter-fat, 2.63 (2.66); average test, 3.81 (3.85); milk received for butter-making, 85,1501bs (103,5801bs); butterfat, 3,619.91b (43601b); creamery butter mado, 4,1291bs (51541u5); overrun, 14,21bs (18.41bs); average test, 4.36 (4.2); whey butter manufactured to the value of £1875 83 4d during the year. The balance sheet showed that the total receipts had been £48,693. The principal items of expenditure were, wages and allowances £1929, requisites £l6Bl, fuel £722, export charges £B3O, depreciation £307. The sum of £30,861 15b 4d had been advanced to suppliers, and there was a balance of £4729. CHAIRMAN'S ADDRESS. In moving the adoption of the report and balance sheet, the chairman (Mr. M. JFlemlng) congratulated the shareholders on a very successful season. The position of the company, as shown by the balance sheet, was very satisfactory. He tlwught that the report would compare very favorably with that of any other companies, and the shareholders would undoubtedly be well satisfied with the results attained. Dealing with the balancesheet, he pointed, out briefly the large amount of capital invested in outside concerns, the Taranaki Producers' Freezing Works, Ltd., and the Box Company, and he expressed the opinion that imore shares would have to be taken over in the near future. Their cheese sales had increased by £1968. The cost of fuel had increased by £l2O. Repairs had entailed heavy expenditure amounting to £lB7, so that In addition to paying out well the factory and plant was kept well up to date. Salaries showed an increase. This however, was the general experience. The directors acquired a suitable piece of land fronting the main road, and a new store has been erected, the old store having for some years been unsuitable. It was fortunate for them that they had bufy when they did, for had the work been delayed the cost would have been much higher. Ho congratulated them on the increased business since the opening. The directors had endeavored to give as much Information as possible in the balance sheet re the store department, and some idea of the increase could be gained when a comparison was made of the goods sales since 1915 tho present year showed an increase of £3812 over the sales of 1915. Referring brelfly to other items in the profit and loss account, ho expressed the opinion that the past year had been very satisfactory indeed. Regarding the proposal for the farmers to establish their own selling agency at Homo, the directors decided not to participate In the proposal, and the output had been again disposed of through the .company's former agents. The offer, he believed, was- the same as that accepted by scone of the leading factories, so that the coming season they had been able to make what the directors considered a satisfactory arrangement. The prospects for the coming season were very good. He then formally moved the adoption of the report and balance sheet. Mr. Brophy seconded. Some discussion took place regarding minor details, after which the report and balance sheet were adopted unanimously. DIRECTORS' HONORARIUM. The chairman pointed out that other items •lad Increased of late years, and as much of (heir valuable time was taken up attending meetings and looking after their interests, he considered that the directors' honorarium should he increased. It was resolved, on the .motion of Mr. R. Fleming, seconded by Mr. H. Symonds, that tho directors' honorarium for the ensuing year be increased from- 0 KUineas to 10 guineas, and on the motion or Mr. W. R. Wright, seconded by Mr. Nellson, the chairman's honorarium was Increased to 50 guineas. ELECTION OF DIRECTORS. Messrs. W. E. Wright and B. Aylward, who retired by rotation, were re-elected unopposed. Mr. Q. W. Rogers was re-elected auditor, the remuneration being Increased from 15gns to 20go£. Mr. M. J. Brennan was re-appolnted secretary. APPRECIATION OP THE STAFF. The chairman referred to the splendid article turned out durlug the past year, and the thanks of the shareholders were due to the '. manager and staff. He moved accordingly, and the motion was seconded, and carried unanimously. In returning thanks, the manager (Mr. W. T. Guild) stressed the necessity for supplying the best possible milk to the factory, as good products could not be manufactured from tainted milk or Insanitary conditions in the dairies, particularly those with releasing plants. He passed on a few hints which he considered would assist farmers In the cleansing of the milking machines, so that the best article could be supplied. GENERAL. Mr. E. A. Mathews asked whether It would not be possible to vote the staff a small bonus. The chairman, in reply, stated that the directors ]tne« the value of each man, , and the matter could safely be left In their i hands. He himself favored paying good sal- ■ aries to good men in preference to bonuses. i Mr. Nellson asked why something had not t been done by the company in the matter of ] procuring a lorry own. He understood J this could be run with advantage to the sup- < pliers. After hearing Information regarding other factories using tholr own lorry, the I chairman considered the process too costly. No action was taken. Reference was made to the C.W.S. scheme, to which the directors were opposed. A vote of thanks to the chairman concluded the meeting. At a subsequent meeting of directors, Mr. M. Fleming was re-elected chairman. I