A VALUABLE BY-PRODUCT.

Taranaki Daily News, 11 October 1920, Page 3

A VALUABLE BY-PRODUCT.

SUCCESSFUL CO-OPERATION IN BACON J INDUSTRY. j Tho twenty-first annual meeting of shareholders of the InglewGod Co-op. Bacon Company was helcl at the Parish Hall, Inglctrood, oi.' Saturday, when Mr. A. Morton, chairman Qf directors, presided over a small attendance of shareholders, only about twenty being present. CHAIRMAN'S ADDRRESS. In moving tho adoption of the annual report and balance-sheet (already published), the chairiman said that it was Quito evident from tte sparse attendance at the jneetlrg Miat shareholders were satisfied with the running of the company. The year had, he said, been a very satisfactory one from almost <*very point of view, there having been a considerable Increase in the number eft pigs received, and a creeord price per poutd having heou paid out. They wmild ha?o noticed 'hat for sonic time the price paid out had gone steadily upwards. A year ago BVid was Ifce lowest price they had paid out, whereas this year it had been and (hough lie was not prepared to say that tho same rate of increase would be maintained there was no indication of the likelihood of any material alteration in the price of pigs or, of tho manufactured article. Last year the directors bad Intimated that they anticipated there S'ould be a large increase in tho number of pigs handled, and those indications had proved correct. - This was fortunate because had tho supply of pigs gone on decreasing as Imd been the case for some years previously, Ihe company would have been in r.fl becoming a, useless iistirution. 7 , were beginning to Tcalise that ther. ■ considerable profit to be made by bre t -dir.g 1 and fattening p!<«? on proper line?. Share- i hUders who go jn largely for breeding and fattening pigs do remarkably well, but on the other har.d there were farmers who said there was nothing in pig raising and consequently neglected it. In this connection he was satisfied New Zealand farmer had much to learn from other countries It was astonishing the Lumber of pigs killed in Denmark, all being turned into bacon. New Zealand, which was a much bigger country did not kill oneluindredth pan of the number, lie was satisfield that with the considerable increase in tho price paid for grains, polhrnl. etc., farmers should give more attention to the growii.g of grain for pigs. Ho always grew a few acres of grain and l-e was satisfied that he got 'he best results from his pigs. Ho was not prepared to say whether the increased supply of pigs would i-ont : nne There was, however, fvlll an unsatisfied demand for bacon. A!hough competition was keen aud high prices were offered, there did not seem to be the if creased production that, ono would expect. He could not understand the apathy of tlip farmer, who, when he had tire opportunity of going in for a business and making it pay well neglected it. As far as their own company was concerned, h* believed there would be an increas-.l supply. Oi.n factor ihey had to consider was the 'number of changes of property lliat had taken place during the season, in fact, tie did not suppose there had been so many changes during any other season. A number or, shareholders therefore would probably bo replaced by non-shareholders, and the factory might lose some suppliers. They should therefore do thc-ir utmost to see that the ircomlng purchaser becomes a shoreholder and a supplier.

Touching on the balance-sheet, lie showed that the land, buildings, machinery and plant, stood !n the hooks at a little over iMmhl' lint the buildings which stood at £2121) could not be replaced for tV.ur times that artionnt. Their paid up share capital stood at £8."l)n, co that the undertaking was in a very soiu.d condition indeed. The jmsitioi] as regards to shareholders was also very satisfactory. Tl-ey had no less than shares held by 747 shareholder*, of whom 332 wore actual suppliers. They had since allotted shares to twenty or thirty new shareholder*, and ho had tio doubt that the list would continue to increase, but tl-ey were still fared liy the fact that a larjre lumber of th» old shareholders bad sold out and been replaced by nondiareholders. The increased supply of pi cs had nooessi'a'cd an increased expenditure, but this increase was not in proportion to the increased supply of pits. He was s.uisMed that an far us economical work:.?'/! was oot.cerned the management loft nothir.jr to he desired, and share-holders had very Rood reason to be satisfled with results in that respect. Last year, l-c said, il.ey paid out £17,1i!i7 for piirs, and their sales realised £22,1)23, whereas tills year they paid out £ 2.1,287 i>iid their sales realised £2!t,120, there not only befog an increase in flic qua! tiiy handled tmt also a higher juice paid out. The insurance fund showed a Joss, huv this was not surprisinc when they considered that they only deducted Is per pig now when they were paying !)d and lOd, as tl-ey did wher they paid 4d, 3d, and Cd per lb., whilst the fioy-c-rninent compensation remained the sarnie, 2d per lb. The directors would take steps to remedy the matter. They had handled 4770 p.-jts last season, 1.47 per cent beiti£ wholly Ci'iiiediuncd, and a .ereaier proportion partially condcnit.ed, in which they received no compensation. The average welKht: of baconers was 143.38 lbs., ?s compared with 142 21 lbs. the previous year, there having been a steady increase In the average weight for some years i |ta*t due to the fact that pi;;s were exj ceedinjtly scarce nil dear to buy causinjt shareholders to feed the plus ro topu'elglit rather than hurry them off and purchase, others. They had paid out an avmjte price {lncluding the hot u9» CTcceediup- Ifld on the Whole of the bacon Tie arerajie weight of porkers was 112.77 lbs., as compared with 91.3t! lbs. for the previous year. Durins- the year they had purchased 47(1 pies from non-shareholders.

Figs were purchased at the various receiving stations as follow?,: Jnglewood I7f>2 (Increase •!'?>), Toko 7"4 (increase 24.".), Smart Road 118 (increase 1"), KtratfoM, 341» (increase -ID. Dowlas SLY, finci-on:;c H), I*rcnui 370 (dorrense HO), Waitara 274 (decrease 131), crease 70), T.irikl HO (decrease 79), Oka to 116, Huiroa 84, T/niti 40, }-:itbam 27 (all row stations). Tiie average cost of collection including railage, etc.. at all outstations was Is 8.5*1 per nV; II" thou formally jiiovcd the adoption of rhe repnrl and balance-sheet. Tills was seconded h.v .Mr. .A. Chard and carried, without discussion. ELECTION OF JtIIiKCTOUS. The three retiring directors, Mr«srs A. Morton, G. X Skelton, and W. jr. W.re were re-dected w.opposed. Mr. T. C. 11. Xieholls was re-electx-d auditor. 1 r: ENKRAL. j Tiie cha:.n:uan moved a vole of appreciation : of the work of The manager (Mr. J. Alier.) . and the Sla.7, remarking that n»»t only was' Hie manager thoroughly efficient. Uit he was possessed of great organising ability as was shown by the record the company possessed in the length of .service of its employees. He also paid a tribute to the exi-ellei.t work rendered by the secretary (Mr .(ieo. J'ulleli). This was seconded by Mr. ,T. Hall and carried unanimously. The chairman winced that the'directors had recognised each man'* service by voting a bonus. In reply to Mr. J Brown, the chairman said it would be a good idea to grade pigs as the man who supplied good pigs suffered from anolher mat bringing prior pigs. Taken as a whole the pigs received at tnglrwood were a very good line, but tl'C- same could not lie said of some outside station;?. Suppliers should realise that the comvrn was their own, and rhat it would pay them io , produce and supply u\ly tin* hrs; pi; ; .s.:t:id 1 1 liur? get better results. If the «'«n.»pa:iy got well-fed and well-topped otT pigs, ihey could pay miore for them as there was shrinkage. It was, howewr. impossible to institute any system of grading, as thai: w..uld necessitate tiie payment on the amul dressed weight of (he pi^.v