OKATO DAIRY CO.

Taranaki Daily News, 28 July 1921, Page 8

OKATO DAIRY CO.

, SIXTEENTH ANNUAL MEETING, REVIEW BY THE CHAIRMAN, Tlio sixteenth annual meeting of the Okatc Co-op. Dairy Company .was held in the Hempton Hull yesterday, when Mr. J. Wooldridge (ctairman of directors), presided over an attendance of about 40 members. In moving the adoption ok the annual ‘'report, the chairman congratulated shareholders on the pay-out, which was a record in the history of the company. Thia was due to the tact that the directors had sold the output last season at a satisfactory price, and lad been able to pay out more than had been ajatlcipated. This was due to the fact that. the milk yield had increased by over 500,0001b5. of milk, whilst the yield of cheese per pound of but-ter-fat had been a remarkably good one. The factory had also graded very well throughout the year, the main factory being tenth on the list, Leith Road fifth', and Puuiho twelfth out of 61 factories grading at Moturoa. The whey butter had also graded first at Moturoa, receding great credit on the manager and Staff. He pointed out that at the end of the’ financial year the cheese in store was much less than at the close of the previous year, and he understood that the Kia Ora had since cleared tto stores. This made the position for next year considerably better, as with clear stores now it meant that tlio consumer at the other end would have three months to utilise their products before any nf next season’s product went into store.

Referring to the complaints made regarding the compan.v not advancing more to suppliers during the s> . son. lie said that it was the policy of the directors to run the compan.v in the interests of tee company, and not of the individual, and as a- result they wore able to pay out the whole of the season’s bonus that day. He outlined various items on .the balance-sheet, showing that there had been inciuases In wages, cartage, material, etc. After careful consideration,, the directors had decided to revert back to the system of letting their carting by tender. The paid up stare capital had shown a decrease, but this was due to the company having repurchased a number of shares held by cry ehareholders, and they nad not been re-allot-ted. Freezing charges, etc., also showed a large increase. Part of this was due to the fact that the Government were now making ft charge for grading their produce. This had been done free for many years, and its benefits had undoubtedly been great. It was therefore only reasonable that they should be expected to contribute towards it. In view of the stringency of finance, the Government had also decided to tax co-operative dairy companies, which had hitherto been exempt from taxation. The rates allowed for depreciation were 2 per cent, on brick or concrete. 3 per cent, on wooden buildings, and 5 per cent, on machinery. Anything further was taxable unless it could “be shown that it was to he paid out to suppliers. The iprospccts for the coming season looked much brighter than they did a few weeks ago, owing to the drought in England. Of course, they might have a drought here, as the season in. New Zealand often followed that In England, but suppliers could be prepared for that by growing suitable feeff. rn concluding, he paid a. tribute to the work ot the staff and tiie directors, all of whom had attended every meeting. He would not touch on the evergreen subject of suppliers sending good milk to the factories, because they were all as familiar as he was witn the imj port-ance of this matter, and as far as he i new there had been very few complaints on J this scorn last year. He briefly referred tc the negotiations with the Dairy Factory Erai ployees’ Union, and the fact flirt they had broken down tho union's insistence on the preference clause, which he held was not in the best interests of the industry. Mr. Benton seconded. THE DISCUSSION Mr. Gray said that lie had heard thftt theft yield was considered 100 large' by experts and he wished to know If this was correct, Mr. Hall (manager) said that he was quite agreeable that the milk should be tested al

any time without notice by an outside tester,, and he added that suppliers could always see' thtiir weights. Their yield was made up on! the weight of the cheese at the factory, and if these were brough'- down to net return;' after shrinkage, the yield would probably b( less. Moreover, the tables from which experts took their yields were rhe result of American experiments, and New Zealand conditions might vary. . The chairman stated flat this was correct, anti It was probable tjiat there might be more solids in New Zealand milk than in American. The secretary stated that the reason the. freezing charges were so much higher this I year was due to the fact that the company 'bad to pay all the freezing charges itself, whereas last year the- Imperial Governmci t had refunded a considerable proportion of these charges.. A supplier suggested that in making arrangements for its cartage, the company ! should arrange for suppliers to tyive their back carting done at a fixed price to each i factory. J Another supplier considered that it was Impossible for one lorry to do the carting for two factories. The chairman considered that it would be better to ailow suppliers to make arrangements for their own cartage, and the directors could attend to the cartage of the factory. Mr. Lawn considered that a new boiler should he provided at Leith Road, as tn the event cf additional supply this year it would be impossible for suppliers to obtain hot water. The chairman pointed nut that the present ' boiler would be able to cope with the supply next season. The supply of hot water to suppliers was only a secondary consideration that tad been originally established as a convenience to suppliers.

The report and balance-sheet was adopted. ELECTION OF DIRECTORS. Messrs. AV. .1. Gray and F. C. Goodin were re-elected to the vacancies on the directorate unopposed. Mr. L'. P. Webster was re-elected auditor at the same remuneration as the previous year. The ciulrman's honorarium was increased to £75, members speaking in high terms of hts work in the interests of the company. The directors were voted the same remuneration us las; year. GENERAL. Mr. W. J. Gray stressed the necessity for reviewing ti e bank guarantee every year by releasing tnc names of those suppliers who had left ti:e district, and by including the names of new suppliers. Be moved in this direction. This was seconded by Mr. Lawn and carried. Mr. Larking brought up the vexed question of whey, pointing out the need for taking precautions to see that, every supplier got his fair share of whey. Mr. Grant considered that the practice of suppliers taking wtey which they were not entitled to should be stopped. The chairman sijid that the only alternative was to employ a man to watch the delivery of whey, or to instal weighing nutchinei?. On the motion of Mr. Larking, the- directors were recommended to take the necessary steps to ensure that each supplier received his fair share of whey. TI c shareholders present were entertained Dy the company to light refreshments, which were dispensed by a number of ladies, comprising Mesdames Wooldridge, Frisk and Hall, Misses Wooldridge (2) and P. Corbett, who were accorded a vote of Ihirnks. ELECTION OF CHAIRMAN. A*t a subsequent meeting of directors Mr. I. Wooldridge was re-elected chairman.