WAITARA-TARANAKI DAITY CO.

Taranaki Daily News, 28 July 1921, Page 2

WAITARA-TARANAKI DAITY CO.

SHAREHOLDERS' MEETING. The annual meeting of shareholders of the Waltara-Taranaki Co-op. Dairy Company was held in the factory, Waitara Road, yesterday afternoon. The chairman of directors (Mr. J. 11. Smith) presided over an attendance of about sixty. The report of the directorate stated: The figures for the year under review again stow a substantial increase over those for the previous season. The local and export prices of butter have been- fixed throughout the year, and export stocks have been cleared, but the sale of the autumn and winter output is very slow, as the supply is in excess of the demand, and unless the requirements of the local trade increase very promptly, the export season will start much earlier than tas been the ease in late years. The advance paid out on butter-fat during the season under review has been greatly in excess of anything hitherto paid, having been 2s Cd per lb. butter-fat for milk over the greater part of the season (with an extra farthing for cream), in addition to case'n money, and the balance available for distribution will permit a further 2d lb. to be paid at the annual meeting, and a further %d later on the butter-fat over the whole of tte year. In addition to the 9d per lOOlbs. paid for casein milk, a further payment will be made proportionate to the amount received from the Casein Company. At the present time prospects for casein are not encouraging.

The statistics for the eleven months ended May 31 in connection vtfth Huirangi and Waitara showed:—Number of suppliers, 93; milk received 9,586,2521b5.; butter-fat, 415,6761b5.; average test, Huirangi 4.17, Waitara 4.40; cream received, 198,0411b5.; butter-fat, 73,3161b5.; average test, Huirangi, 38.7 per cent., Waitara 35.8 per cent.; butter made, 575,028 lbs.; overrun, 18.8 per cent.; official average grade, 91.93. The fact that the balance-sheet only covered a period of eleven months was pointed out by tie chairman in reviewing the season’s operations; this, he said, had to be taken into consideration when comparing items with last year. Proceeding to deal with the business of the company, he said tnat there was a balance on the year’s working available for distribution which would enable a further payment of 214 d for the period covered by the balance-sheet. Ti e position with regard to the pay-out was, therefore, as follows: July, 1920, Is 8»4d; August-March, 2s B%d; April, 2s 5%d; May, 2s 4Vtd. Suppliers to the creamery received one farthing extra. SATISFACTORY POSITION. These figures, the chairman said, could be taken as highly satisfactory, and ho was very pleased to be able to record them in view of the gloomy views expressed by some of the suppliers at tl:e last, annual meeting. They had been afraid that 011 the sales made the company would be losing about 5d per lb. by comparison with the then pay-out for cheese. It would be found, however, that instead of a loss there was actually a margin in favor of butter and casein, as against cheese. He was not in a position to make any forecast as regards prospects for the coming season, but his own Idea was that they should not look for too much. The whole aspect changed so. rapidly that they could only wait and see. The industrial outlook, which was one of the factors to be taken into consideration, was certajnly improving, and according 1 to recent Home reports, the prospects of obtaining a good price were particularly bright. Margarine had been mentioned as likely to enter into competition with their product, but from Home reports the indications were that there had been a turning of opinion against margarine, which was apparently included in tte food list from necessity and not from choice. If the people, at Home could get good butter at a reasonable price they would take it.

If dairymen expected to get the highest possible prices a high-class article was essential. The matter of raising the minimum points for first grade from 88 to 90 had been brought under the notice of the Government. He believed it was also desirable that the officers of the Dairy Division should carry out an Inspection of dairy sl eds and plant, with a view to enforcing, in a friendly way, any necessary improvements There should be no necessity for it, hqwever, if individual suppliers attended properly to their own affairs and sent along the very best materials under conditions of cleanliness. A first-class product would bring its return in the highest price. He would not say that, there was very much wrong with the great bulk of the milk or cream, but without wishing to offend, he believed they could all do at least a. little better; be merely wished to impress upon suppliers the necessity for sending first-class raw material.

Reviewing items in the report, Mr. Smith said that the number of suppliers had increased byt 11, and the milk received showed an Increase of G1,7561b5. The average test was practically the same—4.l7 at the creamery, and 4.40 at the factory. The quantity of cream received was also considerably higher than in last season. The amount of butter madet was over 21 tons above the previous year’s output. Tte finances of the company were undoubtedly in a good position. They had written down the assets and created reserves in the good times; the benefit of this policy would be seen later, especially If lower prices for produce ruled. The motion for the adoption of the report was seconded by Mr. Giddy and carried without discussion. THE CASEIN MARKET. The position in regard to casein was touched on by the chairman in his address, and was also briefly referred to at a later stage. The chairman said that the position in regard to this commodity seemed to he under a cloud; representatives of the producing companies had been in communication with the Casein Company, but no arrangement had yet been come to The Casein Company had proposed that instead of paying in cash they would issue shares to the dairy companies for the product, and the companies would tten take over the works at Aramoho. There was another proposition from the company, namely that factories should supply the green curd to he sold on commission by the Casein Company. Nothing had yet been done, hut he would not like to see the business fall away, as he believed it had a future before it. Replying to Mr. L. DeLaunay, the secretary (Mr. Daily) said tte farthest stage reaenea in the (manufacture of casein in New Zealand was the process of drying m order that it could he sent home for treatment. Possibly In the future the North Taranaki companies migh' see fit to establish their own dry- ; ing works at New Plymouth and consign the j casein on their own account. Mr. DeLaunay suggested that one method of sending Home the casein article would be | to dry it and turn it into butter boxes. When 1 these reacted Homo the boxes could be again treated. The. chairman read a letter from the Casein Company (in reply to an inquiry as to the coming season), stating that no arrangements had yet been made. GENERAL. The retiring directors, Messrs. W. Hall and K Purdie, were re-elected unopposed. 3lr. V. Duff was re-elected auditor. The chairman’s honorarium was again fixed at £6l), and the directors’ fees at 15s per meeting.