OMATA DAIRY CO.

Taranaki Daily News, 1 August 1921, Page 8

OMATA DAIRY CO.

ANNUAL MEETING OF SHARK- . HOLDERS, The annual meeting of the Omata Cooperative Dairy Co,, Ltd., was held at the Soldeirs’ Club, New Plymouth, on Saturday afternoon, Mr. G. H. Bell (acting-chairman of directors) presiding over a good attendance of shareholders. ANNUAL REPORT. The twenty-second annual report of the company stated that the directors were pleased that the balance-sheet of rhe company showed a satisfactory position. The balance of the 1919-20 season’s- accounts brought forward was £1,312 8s 4d, and adjustments of last year’s equalisation fund and refunds of storage charges increased the amount Ito £1,704 ss, out of which payments were made of £1,264 IBs 5d as passed at the last annual meeting; £76 10s 7d, the casein balance, was written off the casein plant, and the balance was carried to the reserve fund, which now stands at £2,557 6s 4,d. The balance to credit of this year’s profit and loss account on closing the books was £2,324 4s 3d, out of which the directors proposed to pay a further 3Ad per lb butterfat over the months August, 1920, to March, 1921, inclusive, which will absorb £2,239 Us, leaving the balance o be carried forward or otherwise disposed of. This payment will make a total of 2/6} over the months referred to, and approximately 2/6 per lb over the but-ter-fat for rhe whole year, in addition to the casein money. During the year the nominal capital of the company was increased to £3OOO, and the policy of the company again based on the principle that all suppliers should be shareholders in proportion to butter-fat supplied, .and as a result new shares were, allotted, and the subscribed capital has increased during the year by £269 18s Id. Casein making was only carried on at the main factory for a short season, during -which 2d per lb butter-fat was paid for the milk, and a further payment will be made on receipt of the balance owing by the casein company. The Herd testing association was successfully established undpr the auspices of the \lairy department, and your directors trust that those suppliers who joined it have realised the benefit of so doing, and that other suppliers will join during the coming season. During the year the price of butter, as in the past few vears. han been under control, which worked satisfactorily until the end of March; since that date the make of butter has exceeded requirements, itml it is probable that the new export season will start earlier than usual, winter requirements may not absorb the supply of istorc and fresh butter available. Conditions point to,a good demand for butter next season, airbough the price will be lower than that for the past season’s make. Regret was expressed at the resignation of Mr. .McKee from the chairmanship, owing to i.» health, and at his : subsequent death. The directors plac--led on record their appreciation of his services and devotion to the affairs of the company. The chairman, in formally moving the adoption of the report and balance-sheet, said that the present season had proved a record one for the company. Their average grade for butter was over 93 • and, in this connection, he congratulated

the manager (Mr. Lynch) on his success at the Winter Show. Only if the manager was hacked up by the suppliers delivering good milk coal'd he get good results. There was a movement on foot to put the grade fpr first-class butter up from 8S to 90. There would be no difficulty in maintaining the standard at the beginning of the season, but in autumn, when food was scarce, it would be more difficult. They were now competing in the world’s markets Where quality was essential. The outlook at pres’ent was much brighter and there was still a fair margin above prewar prices. If they were to get good results, the keynote to success was contained in the three words: feeding, weeding and breeding, which were all more essential than enlarging the herd to increase the yield. Fatinera were too to overlook this fact, and overstocking was far too prevalent. Cutdown the herds and feed them better was his advice. Then again more use should be made of testing cows so that farmers could gauge which cows were profitable and which wore not. In connection with the main factory, lie mentioned that a steam-engine had recently been installed which was capable of running the factory on its own when the water supply was low. He then moved’ the adoption of the report and bal-ance-sheer. Mr. T. Telford seconded. SUMMARY OF SUPPLIES. A summary of the year’s working was also presented and contained the following information:—Number of suppliers 74; Nd. Iba. of milk received, 2,658,144; No. lbs. of butter-fat received, 10S,752.74; average test 4.06; No. lbs of creame received. 179,645.75; No. of lbs. of butter-fat. (from cream), 65,060.81; average, test, 36.4; total number of lbs of butter-fat, 173,813.58; No. of lbs of butter made, 204,708; No. of lbs of butter made per lb of butter-fat, 1.18; average price per lb received for butter, 2/SJ; average price per iu received for butter-fat, paid as advances in addition to casein money, 2/2M; average grade for the season 1920-21, 93.03. GENERAL. \ In answer to questions the chairman stated that the prospects for easein for the coming season were, not too bright. Last year they stood to lose nothing ns casein was sold on a butter-fat basis, all working expenses being paid. Two directors were required in place of Messrs. McKee (deceased) and Bollinger (who offered himself for reelection). and Messrs. H. T. Bollinger and R. D. Spence, being the only kharctholders nominated, were declared elected. : Mr. Vai. Duff was appointed the com-

pany’s auditor at the same remuneration as paid last year. In view of the cwt of travelling expenses, it was resolved to increase the chairman’s honorarium to £5O, he to pay his own expenses out of that amount. The directors’ remuneration was fixed at £lO 10s for the current year. Heanty votes of thanks were accorded the chairman and secretary, and a special vote of thanks to the manager at the. main factory (Mr. Lynch) and his wife, and also to Mr. Sherwood (manager at the Oaklira branch). At a subsequent meeting of directors Mr. G. H. Bell was re-appointed chairman.