KAIMATA DAIRY COMPANY.

Taranaki Daily News, 10 August 1921, Page 8

KAIMATA DAIRY COMPANY.

ANNUAL MEETING. The ninth annual meeting of the Kaimata Co-operative Dairy Company, Ltd., was held at the Kaimata Hall on Monday evening, Mr. A. E. Burwell presiding over an attendance of about 40 shareholders. THE ANNUAL REPORT. The annual report stated that owing to the delay in shipping it was not possible to show even approximately what tlie final total payment would amount to. Cheese amounted to 268 tons 16ewt. 4ibs., of which 3572 crates; were for export. At the date of balancing 3147 crates had been shipped away and drafts drawn for advances on ttem amounted to £15.473 7s 2d. The remaining 1425 crates were still in the freezing works, and on these the, banks had advanced £8894 5s 8d in store warrants. As the cheese wks on open consignment, and as the cheese market at Home had had a downward tendency, it was impossible to tell what average price the cheese would ultimately realise. It was possible that the cheese would not realise as much as tte advances already drawn on what was shipped, and also that the advances made by the bank on 1425 crates might not be covered by the advances to be drawn on London, as and when this cheese got away. With the market at Home in the condition it had been of late it was impossible to do more than guess at the final result. Creamers’ butter was made during the months of June and July, 1920, and April and May, 1921. The report showed cheese 602,1721b5., whey butter 19,1281b5., creamery butter 16,5061b5., milk 6,044,3591b5., butter-fat 238,8511b5., average test 3.95, lbs. of milk to lb. of cheese 9.57, ibs. of cheese to lb. of butter-fat z. 68. MOTION OF SYMPATHY. Before the business of the evening commenced, the chairman moved that an expression of sympathy should be sent to the relatives of the late Mr. W. K. Percival, whose death was a loss not only to the company, nut to the whole of the dairying industry of Taranaki. Mr. Percival had been associated with the company as secretary from the beginning, and he was the friend and adviser of the company, aud had its interests at heart until the end. The motion was passed, members standing. CHAIRMAN'S ADDRESS. In moving the adoption of the report end balance-sheet, tte chairman said that when it was made up the outlook was most discouraging. Shipments of cheese had been delayed, aud, the coal strike was in full blast. The prices for cheese shipped were taken in the balance-sheet at the amount which had been advaned against the produce at the time of shipment or against store warrants for what remained in the works at May 31. Since May 31 all the cheese had been shipped and the Home market had considerably improved. Bad conditions had seriously affect-

ed the Home market, but there had been a decided improvement compared with the post- j tion when the balance-sheet was made up. The amount of cheese made was less by 57 ; tons than what it was last year. Creamery butter was made during four months of the season to the amount of 16,5001b5., as against 5001bs. for the previous season. Less milk . was received owing to some of the larger suppliers deciding at the flush of the season to dispose of theirs where they could get more money for it. Others who occupied farms which formerly sent milk to the cheese factory apparently lacked the co-operative spirit, and preferred to supply proprietary concerns. Whey butter showed an increase of 8571b5. over last year's figures, notwithstanding the fact that, the amount of cheese made was less. Ju the opinion of the directors the above result tended to show the amount of care and forethought given to the working of the factory by the manager and staff. The average test shown was 3.95, against 4.04 for the previous season. It required more milk to manufacture one pound of cheese—--9.57 this year as against 9.16 last year. There was only a small difference in the make this year—2.6B' as against 2.C9 last year. The average grade points were 91.18. The company's grade was eighth out of 61 companies at Moturoa. On the debit side of the balance-sheet the items fc.r export charges showed an increase pf £245 over last year, and interest charges an increase of £320, which was due to the | delay in shipping. Costs per lb. of butterI fat as compared with last year were as fol- ‘ lows, last year’s figures being in parentheses: J Wages 1.51 d (1.05 d ; requisites 1.58 d (2.03 d ’ fuel .60 (.43) ; repairs .09 (.05) ; total rnantiSfacturlng cost 3.78 d (3.s6d)disposal 1:56 | (.95) : depreciation .49(.48) ; total cost 5.83 d | (4.0f1d), an increase of 4-sd. A The shrinkage of the company's cheese was 1 remarkably low, and compared more than fav--1 orably with other factories, and on the cheese for which account sales were to hand meant 'j li gain of from £lOO to £soo'to the cctnI pany. Tn accordance with arrangements | made with the bank £l5O had been placed to ’sinking fund No. 2, and £995 4s fid to sinking fund No. 3. to provide for the reduction of the cost of the drainage. The drainage had been completed under estimated cost, and was working satisfactorily. The actual cost of the drainage was £l6OB 3s, and the balance was made up of the cost of tie new whey tank stand £123 18s, drainage rights, survey, engineer’s fee and fencing. In this connection the company was indebted to the generosity of Mr. G. L. Bocoek, who allowed the passage of the drainage through his property without any charge, and also assisted by his own personal labor. He wished also to thank all those settlers and their wives—not always suppliers—who had so generously put themselves to inconvenience to house and accommodate the workmen at and above the factory. The thanks of the company were alsn due to Mr. James Dobson, who had declined to accept remuneration for damage done to his property resulting from the attempt made by the company to build a new factory on his land. There had been an increase of £314 in wages since last season. DISCUSSION. In reply to a question from Mr. Davis, the secretary said that the gross price per cwt. of cheese received from the four shipments - uold had been respectively 149 s lOd, 146 s LOd, 145 s Bd, and 141 s. There were eight other shipments which were not yet accounted for. Replying to questions from various meinhera, the chairman pointed out that the irregularity of the shipping had affected the sending in of account sales returns. Complaints about the same thing were coming from all the other companies. The report and balance-sheet were then adopted. After discussion, it was decided, on tlie motion of Mr. T. Casey, seconded by Mr. J. Klenner, to forward the following recommen- * dation to the incoming directors: "That the directors adopt a selling policy if a good price is offered.” Tlie chairman reported that directors were trying an experiment to get more water for the factory. Ever since the factory had started it l ad been troubled by an insufficient water supply, and if they were to experience anything like the drought which had prevailed at Home they would want much more water than last year. They were going to pump the water up by water power, and the manager (Mr. Carter) had every confidence in the scheme, which would only cost from £3O to £4O. ELECTION OF DIRECTORS. Under article 9a, all the directors for last season retired from office. The election of directors for the ensuing year resulted as follows: —A. E. Burwell, J. Klenner, T. Casey, J. Ryan, John Dobson, G. L. Bocock, and A. E. Perrott.