NGAERE DAIRY COMPANY.

Taranaki Daily News, 13 September 1921, Page 8

NGAERE DAIRY COMPANY.

ANNUAL MEETING. PAST YEAR’S OPERATIONS. The twenty-eighth annual meeting of the Ngaere Co-operative Dairy Factory Co,, Ltd., was held at the Ngaere Public Hall yesterday, when the chairman of directors (Mr. W. Morison) presided over an attendance of between 50 and 60 shareholders.

The annual report and balance sheet stated that owing to the large quantity of cheese unsold at the date of balancing the sum set down as available for further payments was merely an estimate based on the anticipated state of the market, and must not be deemed a guarantee. While believing the estimate a safe one, the directors pointed out that the price of cheese was subject to sudden and violent fluctuations. Suppliers had received Is 9d per lb butterfat, and the estimate was for payment of approximately another sd.

Statistics: Lbs milk, 10,908,242; average fest, 3.96; lbs fat, 432,513; lbs cheese, factory weight. 1,166,203; lbs whey butter, 37,458; milk to cheese, 9.35; cheese to butter fat, 2.69. Stock in hand was written down at £2686 18s 9d, and produce unsold at £35,509 6s 3d.

The chairman briefly moved the adoption of the report and balance-sheet. Mr. Hedgman said that the difference in cost of producing was 23s a ton, and roughly £6OO more was paid in proportion to the extent of the output. The chairman said that accounts for last year had to be placed on this year’s account, and this accounted for £2OO.

Mr. Joseph Thomas said that the year before they had about 2,000,0001bs more milk than this year, and this year the wages were £233 more. They would have to look carefully into things. The company had been started and worked up economically, and it was for them to take every precaution. The office expense alone was as much as it used to take to run the factory. He referred to the wages. Mr. P. Thompson said that although the amount of supply was about 1,000,0001bs of milk less than last year they could not work without a certain minimum of staff, and if they put hands off when times were slack they might not be able to get a full working staff when it was needed.

The manager of the factory (Mr. A. Bower) said that during the war they had had a very hard job to get men, and last year they had also had a very hard job to get them. Some suppliers went to Lowgarth, and they had expected those suppliers to come back, and so had kept the men on. The suppliers had not come back. They were engaging men this year just as they wanted them, as they were now in the position to get men when they wanted then!. THE BOX COMPANY. Mr. Joseph Thomas said that, regarding the Egmont Box Company, there would be between £2OOO and £3OOO owing to the company. Could the chairman say how much the Box Company had had from the i factories to work on ? The chairman said that the company had £77,000. ! Mr. Thomas said that the Box Company j was simply running a sawmilling industry I for the general public, and the box-making : was only a side issue. If the company j could not run their business without susLaining a loss (they had lost £5500 last year) the Box Company was not an asset io the dairy companies. The chairman pointed out that they got their boxes for

3s 6d from the Box Company, whereas they would have to pay ss, plus railage, anywhere else.

Mr. Harrison said that the chairman of the Box Company had advised all dairy companies to put themselves in the position to pay their liabilities. If the Ngaere Company had to be in a 1 position to pay the £2369 14s which was owing they were not getting their boxes cheaper. Mr, T. Coleman said the Box Company had worked one bush and was shifting from one mill to anc her, and so wanted the money to go on with. That is why they did not pay a dividend. When they weic in a new bush they would do better. Mr. Fryday said that the Box Company had fooled them from start to finish, and it was time they changed. Mr. Harrison said that the Box Company was drifting into a general timber business, and if the box-making was to be a side issue the dairy companies should not stand behind them. Most of the men at the Box Company's yard were handling o.b. timber.

The chairman said that Mr. Harrison’s information was all nonsense. All the timber they were handling came out of the Box Company’s bush.

Mr, Harrison said, that he had his information on the best authority. Did the chairman know that the company was launching a scheme to build houses for its employees in order to use up its hard timber. He moved that the directors should go into the matter, and, if they found that this was the case, to protest against

Mr. Fryday said that he thought Mr. Harrison was on the right track. Why had the Box Company bought land the build houses ?

The chairman said if the Box Company were to build houses for their employees it would be quite legitimate. Mr. Harrison: “Not if we are behind them and they are not turning out our butter and cheese boxes.” Mr. J. H. Thomas seconded Mr. Harrison's motion.

Mr. Joseph Thomas moved, as an amendment, that a committee should be set up to consist of two delegates from the shareholders and the chairman, to go into the

Mr. Harrison said that he did not wish to interfere with the Box Company or tie their hands in any shape or form, but he did protest against the company going into a general business scheme. Mr. N. B. Fryday seconded Mr. Thomas’s amendment, which was lost on a show of hands by 15 to 9. The motion was then put and carried unanimously. OUTSIDE ENTERPRISES. Mr. Joseph Thomas moved that no further moneys be paid or any liability undertaken in any company without, the consent of the shareholders, and that the articles of association be altered to that effect. Mr. Harrison seconded the motion. Mr. N. B. Fryday said that they should j be careful about going into any company. They would have to economise in many ways. Mr. Thomas said that he wished the motion to read the same as last year’s motion, which had |jeen lost. The molion was: “That the articles of association .be altered so that, the directors cannot com- | niit the company to joining any other l company without the consent of share- | holders at a general meeting.” The motion was carried unanimously. In reply to a question by Mr. Harrison, the manager (Mr. A. Bower) said that they had had private advice to buy as much rennet as possible, as there was going to be a shortage, and though some of the rennet had not been as good as it might

be, some of it had been excellent. They had found New Zealand rennet to be superior to imported rennet. It was moved by Mr. Hedgman that the chairman’s honorarium should be reduced to £5O per annum, and the director’s pay to 15s per meeting.—Carried. In reply to Mr. Harrison, the chairman said that they did not propose going on with the scheme of building houses for employees at present. In reply to Mr. Harrison the chairman said that they proposed paying out Is 3d for the commencement of the coming season, with Id bonus from last year’s working. Mr. Fryday moved that if possible the company should in future receive nominations for the election of directors at the annual general meeting.—Carried unanimously. The retiring directors, Messrs. J. M. Gatenby and H. E. Nowell, were re-elected unopposed. Mr. J. H. Thomas was reelected auditor. The chairman moved that the resolution passed at last meeting recommending the alteration of the date of the annual meeting to a month earlier should be rescinded. —Carried.