THE DAIRY INDUSTRY

Taranaki Daily News, 7 August 1922, Page 8

THE DAIRY INDUSTRY

THE NORMANBY COMPANY. THE ANNUAL MEETING. ' I The annua! meeting of the shareholders of the Normanby Co-operative Dairy Factory Company, Ltd. was held at Normanby on Friday. Mr. J. Preston, chairman of directors, presided over a good attendance. In presenting the twenty-eighth annual report and balance-sheet, the directors commented upon the season, ‘‘which, fortunately, had been one of great productiveness, which will compensate in some measure for the decrease in value of our produce. The first pay-out for the season 1920-21 was Is 11 13-16 d. Cheese afloat at balance date consisted of 762 crates, the value of which was estimated at 88s per cwt., and on this basis the pay-out for the season would be Is 3%d. except for August butter-fat, on which Is 6d has been paid. Additions to butter plant have been made during the season, and with the present equipment it is possible for us to make butter in the spring and autumn, and also to make a proportion of butter throughout the season. The new smoke stack has resulted in a substantial saving in the fuel accounts.” The chairman, in imoving the adoption of the annual report and balance-sheet, said: ‘‘Although the past season has been one of disappointment as regards prices for dairy produce, it has been a record one as far as production is concerned. Had the company madel cheese for the whole season the eutput would have been 575 terns, which is equal to the output of season 1919-20. 6662 crates were sent Home on open consignment; 850 crates sold f.0.b., and 1100 boxes of butter were sold f.o.b. This will enable your directors to clear up the season much earlier than previous y ears. During the year the quality of produce has been well maintained. Out of a total of 7012 crates of cheese exported, only 1.25 per cent, were second grade, which speaks well for the manager and staff. At the commencement of the season It was thought by many who were thought qualified to judge that prices would be well maintained, but after the first, boats containing our cheese arrived Homo, the price commenced to drop, and the first boats were the best received. for the season. You will notice by the balance-sheet that the final payment for last season amounted to Is 11 13-JGd per lb. of butter-fat, and at the rime the books closed for the season we had 762 crates to sell at Home. This was estimated at 88s per cwt., which will allow the company to pay out Is 3%d for ail months except August, for which you received Is Cd. During last spring our boiler smoke stack gave way, and your directors decided to build one in concrete. This has fully justified their action by showing a saving t« the extent of £l9O on fuel, although more produce was made. They also purchasd the freehold of the native lease containing 38 acres. Wages for the season show a reduction, and the cost per lb. of cheese f.o.b. is reduced from 1.36 to 1.32. It is pleasant to note that the returns of butterjfat per cow is already Increasing, and the average test for the season is 3.93. against 3.89 for last year. I have to thank the shareholders. secretary, manager and staff for their assistance during the past season.” Mr. R Clement asked why the Normanhy company had only been able to pay out 1/11 13-16 d last season, against the Hawera Dairy Company’s 2/3. ( The chairman explained that the Normanby Dairy Company had made very little butter this year. Speaking of the cost of manufacture, Mr. • Laurent pointed out that some companies included certain expenses In their cost of manufacture which other companies did not. Mr. Laurent said that the directors had been I empowered to sell last season’s output at ll%d. ' He thought it would be advisable If the l chairman explained why a sale was not made. ' The chairman said that no offer had been i received. They would have been only too willing to have sold- at such a price if they had received an offer. After further discussion the motion for the adoption of the report and balance sheet was seconded and carried. Mr. Magill moved and Mr. Laurent seconded that It be a recommendation to the directors that for the months of May, June and July suppliers receive the actual proceeds of their produce less cost. On being put, the motion was lost by 10 votes to 13.

Mr. Laurent expressed the opinion that a supplier should not be allowed to send some of his milk to the Normanby factory and some elsewhere. Mr. Magill moved and Mr. Laurent seconded that unless Mr. Gane supply the whole of his milk to the factory he be asked to resign front the directorate. Mr. Gane rexplained that for years he had been in the habit of feeding his calves on new milk. Last year he decided to feed his calves on skim milk, and so he. installed a separator and skimmed part of his milk. As the Normanby company did not take cream, he had to send it to Stratford, where he also held shares. He had to consider his own pocket. Asked how much milk he had been giving Ins calves, Mr. Gane said he had been giving them 4 lb of new milk night and morning, and when feeding them on skim milk he had been giving them double that amount. Messrs. Gibson, Crocker and the chairman said that they would be very sorry to seg Mr. Gane go qff the directorate. The matter of his milk supply was the only question with which they did not agree with him. They did not want to see the matter go to the vote. The motion was carried. Mr. Gane, in tendering his resignation, said he took no ill-feeling from the resolution. They had acted according to their convictions, and so had he. Mr. Laurent asked Mr. Gane to reconsider his decision to resign and to supply the factory with the whole of his milk. Mr. Gane said it looked as if other people were trying to run his business. However, he could not consider Mr. Laurent‘S proviso. It was decided that tlie company pay 4 per cent, interest on fully-paid-up shares. After several motions, aiming at a reduction in the honorariums of the chairman and directors, had been put forward, a motion moved by Mr. Mills, that the chairman’s honorarium. and the directors’ fees be the same as last year was carried. A hearty vote of thanks was accorded the i manager am! staff and the directors for the J manner in which they had conducted the affairs of tlie company during the past year. Messrs. Gibson, Ballantine (retiring sectors), and Magill contested the two seats on tlie directorate. The poll resulted in Messrs. Gibson and Ballantine being re-elected. At a subsequent meeting of directors, Mr. C. J. Preston was re-elected chairman. Mr. H. A. Lennon was re-elected auditor. After the meeting a further payment on this of 2d was made, making tlie total payment tip to date for eleven months of tills season 1/2. For August last 1/6 was paid out.