BELL BLOCK DAIRY COMPANY

Taranaki Daily News, 19 August 1921, Page 2

BELL BLOCK DAIRY COMPANY

ANNUAL MEETING. The annual meeting of the Beil Block Dairy Company was held on Wednesday evening at. the Bell Block Hall, Mr. J. S. Connett, chairman of directors, presiding over a large attendance of shareholders. ANNUAL REPORT. The 25th annual report congratulated shareholders on a record pay-out but expressed regret that owing to the dry autumn ttc butterfat received showed a decrease. The cheese output was sold to the end of February, and butter was made to May 10, after which cream was sold while the new factory was being built. During the cheese-making period 5,807,0351bs of milk was received at Bell Block, producing 239,7921bs of butter-fat, from which was manufactured 639,9961bs of cheese. At Hillsborough the figures were; 2,617,339, 108,369, and 289,026 respectively. For the butier-makh'.g period 992,7031bs of milk was received at Bell Block, producing 46,9851bs of butter-fat, and at Hillsborough 453,2811bs of milk, producing 21,3701bs of butter-fat. Milk foi cre4.m sold 288,4261b5, butter-fat 13,3631b5, total butter-fat 429,8791b5. Average- test 4.22. A decrease of 1,450,2891bs of milk. After writing off £450 for depreciation, the profit and loss account showed a credit balance of £10,143 5s 7d. The directors recommended that this be allocated to suppliers by a dividend of 6 per cent, on share capital paid up to June 30, 1920, and a further payment of 5%d per lb of butter-fat supplied for the year, making the total payout equal to an average of 31.63 d per lb of butter-fat. \ During the year the nominal capital of.the’ company had been increased from £5OOO to . £15,000 by the creation of 10,000 additional shares of £1 each, and the basis of allotment altered accordingly in order to provide capital for the erection of new factories. CHAIRMAN’S ADDRESS.

The chairman, in moving the adoption of the report, said; The position of the company as disclosed by the balance-sheet went to show that during the past year, they had been amongst the fortunate ones in be.ing engaged in an industry that had not only maintained its prosperity, but largely exceededin value the results of any previous year. Whilst the Dominion values of the froze!) meat industry, including its allied products of wool, tallow, and hides, had decreased .alarmingly during the past year, that of dairy produce had increased from nine to almost. 17 millions, proving the saving factor in the financial stringency now being experienced. The season under review was not an ideal one in this district for production. Situated as they were near the coast they were subject at times to - droughty conditions, and ttfcse prevailed through summer and autumn with the result shown, a very great reduction in' output. Reduced herds were, however, reA sponsible for a portion of this. The prospects at the beginning of the year foreshadowed high prices for cheese ,and many companies anticipated receiving up to 15d per lb for the season on consignment. The directors; however, thought it prudent to sell when offered 14 %d. Owing to shareholders having authorised the erection of a new factory at Bell Block if finance could be arranged, the sale was confined to the period ending February so as to be free to make either product most convenient in case re-building, should be in progress. As the Dominion output of butter for the period ending March had been sold to the Imperial Governpient at a. satisfactory figure, the company changed over oh March 1 and continued making butter to the end of the season. The decision to sell proved a wise one, as cheese prices slumped considerably in mid-season, though recovering towards the end.

Shipping conditions had left much to be desired during the year. Charges seemed extortionate, shipments were delayed and much cheese from the local works had to be put into store in Wellington awaiting the ocean boats. One pleasing feature, however, had been the quantity shipped direct from the port of Moturoa. 1 During the season six deep-sea vessels had taken away dairy produce, lifting 43,000 crates of .cheese and 44,000 boxes of butter, or approximately onefourth of the manufacture of tho northern part of the province. It would be ( a great day for Taranaki when the shipping companies agreed to load the whole of the dairy produce into overseas boats at Moturoa. As practically all accumulated, stocks were now cleared from tl:e various freezing works regular shipments in future should be assured. The present freight rate was to continue for the time bbing. Labor difficulties had preVailed more or less throughout the year. The eoal miners’ attitude led to large quantities of coal being imported from overseas to meet the shortage. Box company employees on the Main Trunk endeavored to hold up supplies of crates and boxes, and supplies of timber had to be procured elsewhere. Factory hands, too, were restless and demanded more money. The position lad now largely righted itself. Owing to the curtailment in expenditure of Government money, work was not now so plentiful, and men who had been most ready to down tools were realising that it was a good policy to hold on to the jobs they had got even at a slightly reduced wage. One thing they must all ultimately come to realise was that there was only a certain amount of money to go around, and the conundrum was to dividte it fairly amongst all interested. Acting on the authority given by resolution passed at the extraordinary general meeting of shareholders held on Marcli 15 last, and subsequently confirmed, the directors at once set to work to push on with the building of a new factory at Bell Block, and after careful consideration decided to call tenders fo rthe job. On receipt of same that of Mr. C. Roebuck was found to he lowest, and being reasonable In the opinion of directors, was accepted on May 2, a stipulation being made that one portion of the building should be completed to allow of qccupation by August. This allowed only three months for the removal of the old building, and the erection of the new. and it was therefore with very groat pleasure that he was able to announce that they would be able to occupy a portion of the now building this week. Very great credit was due to Mr. Roebuck and his fine staff ot‘ men for the expeditious manner in which the work was being carried out.

A number of shareholders were opposed to the rc-buildlng scheme, but he was of the opinion that, after seeing the new factory, one worthy of the fine district of Bell Block, their feelings would change. They would agree it was worth the effort, worth the money expended, and would prove an incentive to the manager and his staff to make a good article and bo a stimulant to every supplier to send the very best material. It was a regrettable fact that their output had been declining due perhaps to lack of top-dress-ing during recent years. Provision had been made in the new building for largely increased, production, and it was hoped that now that manures vjere becoming more reasonable in price farmers would make free use of them for greater production was urgntly required for the benefit of both the individual and the Dominion. Mr. Connett then reviewed the balance-sheet and formally moved the adoption of the reMr. H. C. Sampson seconded, and tte motion was carried after a short discussion; ELECTION OF DIRECTORS. / Til,Ze were three nominations for the two vacancies on the directorate, viz. Messrs. F. (9*/ Cornwall. T. French, and J. S. Jones. On' Ti ballot being taken Messrs.' Cornwall and: Jones were elected. Mr. A. J. Tunbridge was re-appointed auditor. GENERAL. A very hearty vote of thanks was accorded those suppliers who formed a working bee to carry out certain earthwork at the factory. A vote of thanks was also accorded the chairman for his assistance in this connection. Votes of thanks were carried to the manager, Mr. l W. Taylor, the secretary, Mr. R. Pepperell, and the staff for their work during the past year. It was decided tn leave the matter of ar■taugiug for a suitable function to celebrate

the opening of the new factory In the hands of the directors. The_ chairman’s honorarium was increased to £5O, and his co-directors were voted 15s per meeting. A vote of thanks to Mr. L. Rundle, a retiring director not seeking re-election, was carried by acclamation. Other formal business was transacted and at the conclusion of tl.e meeting refreshments were handed round.