MELLS DAIRY COY.

Taranaki Daily News, 31 July 1922, Page 8

MELLS DAIRY COY.

ANNUAL MEETING. The annual meeting of shareholders of the Mells Co-operative Dairy Factory, Limited, was held on Friday at Mokoia, when Mr. C. J. Hawken, chairman of directors, presided over a good attendance. The annual report stated that the final result of the season 1920-1921 was a pay-out of 2s 2 5-Sd. During the past season only butter was made. “The reports on the quality of our butter are excellent, and our grade was the highest through the Patea Grading Works during last season —a record on which our manager, Mr. D. Campbell, is to be heartily congratulated. After providing for interest on shares and directors’ fees, the balance available for distribution will bring the total payment for butter-fat for the season to Is 2\fed. If the price of butter is sustained until the remaaider of our produce is sold this estimate will be exceeded, as unsold butter has been estimated at a conservative price.” Statistics. —Pounds of milk received, 10,791,779; pounds of butter-fat, 423,375 ; average test, 3.92; pounds of butter made, 499,053; overrun, 17.87 per cent.; cost of manufacture per lb butter, 2.05 d; cost of manufacture per lb butter (including depreciation), 2.22 d; cost per lb butter to f.o.b. ocean steamer, 2.72 d. Speaking of the past season, the chairman said that at the commencement matters did not seem too bright. However, the market recovered later. Referring to the cost of manufacture, the chairman said that a reduction must be made. Coal and firewood had cost between £lOOO and £llOO, as against £745 for coal In 1919. The Mokoia factory needed a new chimney stack and boiler. The manager had estimated that a well-built stack would I save nearly a third of the coal at present consumed. Carting from the Whakamara factory was too expensive. Speaking generally, dairy companies must, with the prospect of lower prices, reduce the cost of manufacture. The chairman thought that the company had something to be proud of in that they had not put one box of second-grade butter through the works. The amount paid out up to date was Is 2%d. There was another %d In sight, and in all probability Is 3’/fed would be the final payment. In commenting on the auditor’s report, ’the chairman said that last year £ 1321 had been written off as depreciation, and this year only £359 had been written off. As long as he. had been chairman he had advocated writing off heavily when times were good, and doing the ■ reverse when times were bad. Mr. Prior asked if it was necessary to have a factory manager at Whakamara.—lt was pointed out that after the commencement of the last season no one knew that only butter was going to be manufactured. Mr. Rothery moved that the Whakamara' suppliers pay for their own cartage. Mr. Barkla seconded. Mr. Herbert moved as an amendment, and Mr. Davies seconded, that cartage be charged as usual. —The amendment was carried. It was resolved to pay interest on fully-paid-up shares. A motion in favor of fixing directors’ fees for the coming season at 7s fid per meeting was rejected in favor of 10s per meeting. It was decided that cow-testing be carried on as usual, the fee being 2s per cow. Mr. R. D. Robertson. New Zealand representative of the firm of Andrew Clement and Sons, Ltd., addressed the shareholders on the subject of marketing New Zealand produce. The retiring directors were Messrs. Hawken and Marsh, both of whom were re-elected unopposed. At a subsequent meeting of directors. Mr. C. J. Hawken was re-elected chairman.—Star.