ELTHAM DAIRY COMPANY.

Taranaki Daily News, 22 August 1921, Page 8

ELTHAM DAIRY COMPANY.

TWENTY-NINTH ANNUAL MEETING. The twenty-ninth annual meeting ot the Eltham Dairy Company was held at the Eltham Town Hall on Saturday, when Mr. H. D. Forsyth (chairman of directors) presided over an attendance of about sixty suppliers. . , . The report and statistics have already appeared. , , r . ♦ i The balance sheet showed that the total receipts were’£26l,s36, the principal items being: Butter sales, £141.962; cheese sales, £103,756; casein, £9736; whey butter, £5179; cool storage, £714. The principal items of expenditure were: Wages, £9171; boxes and crates, £4469; bandages and caps, £1419; benzine and coal, £2488; firewood, £667; freight, £2244; freezing charges, £2311; interest, £1594; rennet, £1797; salt, papers and preservative, £934; sundry requisites, £761; veils, £348; insurance, £659; rates and taxes, £436; independent tester, £llO. The sum of £180,194 had been advanced on account of milk, and there remained £45,378. The cheese consignment account showed that ocean freights cost £13,105; commission, £3116; landing charges, £1732; discount, £1175; and insurance, £1935. CHAIRMAN’S ADDRESS. In moving the adoption of the report and balance sheet, the chairman said that it was hardly necessary to mention that the season had been a record as regards price and production. The turnover had been a record, due largely to the increase in tfig price received. The butter producers had contracted to sell their produce to the Imperial Government at 280 s per cwt. and the directors, feeling that there was not the opportunity of obtaining the same value by the manufacture of cheese, decided to change wherever possible to butter and caesin, instead of remaining with cheese. It was a difficult matter to change over in the flush of the season, but there was no doubt the change was responsible for the record pay-out, which compared more than favorably with any factory in South Taranaki. Last meeting, he had predicted that the- season was going to be the best season they had had, and possibly the best they ever would have, and it. appeared likely that would come true. The prospects during the coming season were brighter than appeared a few months ago, and though the price would be reduced as compared with the previous season, it would still be a good one. The drought was responsible for the high prices that were ruling for butter and cheese to-day, and while this looked a little like "blood money,” he was satisfied the producer here was going to have a good season. They could not always expect such high prices, as they could not always look for new markets. The only way was to increase production. By better farming methods, by herd testing, improving their herds, and providing better feed, they could increase production. He then moved the adoption of the report and balance-sheet. Mr. Cocker seconded. .

Mr. Northover (secretary) detailed the various items on the balance sheet, showing that working charges had increased by £1228. The total charges on cheese from f.o.b. New Zealand to the London market was £21,068, which worked out at 16.9 per cent, of the gross return, or equivalent to id in the £. THE DISCUSSION. The chairman said that repairs and renewals were very heavy, but that was accounted for by the fact that there was a good deal of repairing necessary owing to changing to butter. Mr. Cocker said that the statistics did not give the average lest over the whole season, nor did they give the average cost of manufacturing the cheese and the butter separately. The over run showed 17.25 per cent. He had read the papers closely regarding the over run, and several factories had headed Eltham in this respect. He was, however, surprised that Eltham bad done so well, seeing that so much but-ter-fat’ was left in the skim-milk. Butter-fat at 2s 6d per lb was too expensive to feed to pigs. He had been promised this would be improved, but on complaining to the branch manager he was told that no one was allowed in the factory except on business. He complained, also, that leaky '’taps were, allowing boiling water to waste, and this water took firewood to heat. While adminting that comparisons were odious, fie considered they were instructive, and they must take notice of the good parts of other dairy companies. Mangatoki Dairy Company had an over run of 18.70. One per cent, of over run in the Eltham company represented £2BUKat 2s (id per ton butterfat, which was a great amount of money to lose. The company had £15,787 invested in other concerns. He understood all this was now interest, bearing. The speaker said bod cows was the worst enemy they bad. He congratulated the directors on the pay-out. The chairman remarked that any criticism was appreciated by the directors, who always endeavored to have defects rectified. Personally he considered 17.25 overrun very saisfaclory, considering that they had no home separation, and also had an independent tester. He considered that more statistics had been shown this year than ever in the history of the company. The average test over the whole year was 3.934. Owing to over-lapping it was difficult to give the actual average test of butter, casein and cheese. Regarding charging of interest and subsidiary companies’ shares, he pointed out that these were all necessary Io the company, and it wbr debatable whether they should increase their prices so as to pay interest and therefore pay increased taxation. Mr. Cocker said that his point was that the Eltham Company should debit interest on those shares against the working account, so that the shareholders who sold., out at the end of a year or so would not benefit. The report and balance sheet were then adopted. ELECTION OF DIRECTORS. Messrs. R. J. Linn, J. L. Campbell, and J. G. Robertson, the three retiring directors, were re-elected unopposed. Mr. Edwin Parrott was re-elected auditor. WINTER BUTTER. The chairman pointed out that apparently owing to a misunderstanding, some of their su|fpliers were going past the factory with their winter cream, and sending it outside. Eltham was able to manufacture butter in the winter as profitably as other concerns. It was generally considered that it did not pay to run creameries under 100 gallons of milk each alternate day, but he pointed out that the main factory kept open through the winter, and it should pay suppliers to send their cream there. The over run on cream WO5 much greater than on milk,' CHAIRMAN OF DIRECTORS. At a subsequent meeting of directors, Mr. H. D. Forsyth was re-elected chairman,