THE DAIRY INDUSTRY

Taranaki Daily News, 11 August 1922, Page 8

THE DAIRY INDUSTRY

LEPPERTON DAIRY COMPANY. The annual meeting of ’ the Lepperton Cooperative Dairy Company was held at Lepperton yesterday. Mr. H. B. Lepper presiding over a large attendance of shareholders. In moving, the adoption of the annual report and balance-sheet (already published), the chairman expressed regret that the results of the season just closed had not turned out as satisfactorily as he anticipated twelve months ago, when it was thought that butter would net suppliers somewhere In the vicinity of Is 10d to 2s per lb. After referring to the fluctuations In the butter market, the chairman said that by the end of December the} market had become demoralised and the outlook for the remainder of the season was not very hopeful. Many of the produce merchants in England were of the same opinion, and advised those of their factory clients in New Zealand who had dual plants to turn over to the manufacture of cheese, which at that time was holding firmer than butter. In company with other factories similarly situated we did this, which had since proved a wrong move, as the cheese market then began to fall, and just as we were ready to ship our first lot of cheese space arrangements failed, and remained most unsatisfactory for the remainder of the season. While markets are in the unstable state they have been during the past two years, and I am afraid remain so for a while yet, it seems W me that the only safe thing to do is to rocide at the beginning of the season what is best to <make and keep to that policy throughout the season. The last of our consignment cheese was shipped by the s.s. lonic early in .Tune, and has arrived in London, and is, unfortunately, not going to strike a very good market. We still had 288 crates of cheese, which has since been shipped by I’. 'taimoa and Ruapehu, hut having lost cor in the cheese market. we decided to sell it for 7%d per lb. f.o.b. ocean steamer. New Zealand, and al the present time it looks as if this was the proper thing to do. It will be a little while yet. before the direc-

tors are in a position to finalise last year’s working, but it will be done at the earliest IKissible moment. All shipments of last season’s produce must reach home and be cleared up before w<- can do this. Consequently, I mm “ not a position at the present moment to say what price the year will finally average out. For the two vacant seats on the directorate caused by the retirement of Messrs. Leech and Crow, there were four nominations—Messrs. Fussell, Hollier, Leech and Ackland. Mr. Crow did not seek re-election. The ballot resulted in the elec'-ioi of Messrs. W. B. Fussell and Heliier. Ae a subsequent meeting Mr. H. B. Lepper was again elected as chairman. Mr. E. P. Webster was appointed auditor. At the conclusion of the meeting a vote of thanks was accorded the staff and directors for having creditably carried out their duties during a trying season. LOWGARTH COMPANY. The twenty-fifth annual meeting of the Lowgarth Co-operative Dairy Company was held yesterday, in the factory, when Mr. E. J. Fearon presided over a good . attendance of shareholders. ANNUAL REPORT. . The annual report stated that, the season had been marked by increased output and great fluctuations in market prices. Advances to suppliers had been at the average rate of 1/1.03d per lb butter-fat, and the working account showed a balance eq'ual to a p further 1.99 d per lb. Manufacturing expenses were 3.47 d per lb of butter-fat, against 3.1 d per lb last season. There had been a considerable saving on storage and interest charges. The following figures show the working results: Milk 10,166,328 lb, average test 3.94; butterfat 400,847 lb; cheese (factory weight), 1,081,027 lb; whey button, 27,928 lb; creamery butter, 12,748 lb: milk to 1 lb cheese, 9.20 lb: cheese to 1 lb butter-fat, 2.76 lb. The chairman, in moving the adoption of the report and balance sheet, said they had written off a considerable amount in depreciation. He considered the buying of veils by the company was not good business. The price received for cheese was somewhat disappointing.* They had to consider the advisability of going in for skim milk cheese, which, according to reports received, was worth consideration. The quality of the company’s produce had been very good for the whole season. He congratulated the manager on the successes at the recent Hawera Show.

THE DISCUSSION. Mr. McMahon thought that the new churn account should be shown on the capital account. Mr. Fryday thought the shares held in the Box Company to be the worst investment they had. In reply to a question, the chairman said that the N.Z. Co-operative Rennet Co., Eltham, were prepared to buy veils at the following prices: First grade, 9d; second grade, Gd; third grade, 3d each. \ After several items of minor importance had been explained by the chairman, the report and balance sheet were adopted. GENERAL. Me Fryday moved that Mr. J. H. Thomas be re-appointed auditor at a fee of six guineas. —Carried. It was resolved that the company cease buying veils. w A letter was received from the Hawera Dairy Company, relative to the proposed manufacture of skim milk cheese, which wentto show that good results had been obtained at considerable profit, cheese being made at 3.25 per cent, of butter-fat. A lengthy discussion ensued, when Mr. Fryday proposed that the directors get more in--1 formation on the matter and report to a meeting of shareholders later. —Carried. It was resolved to send a vote of sympathy to the relatives of Mr. Hamilton, Government herd-tester. Mr. T. Malone brought up the necessity of suppliers sending good milk to the factory and thereby assist the manager in turning out a good article. Various means were suggested, but the chairman said that, while he realised the necessity of exercising every care, he had confidence in the manager to do the right tiling by the shareholders and send the milk back if riot np to the mark. * Mr. Fryday moved that the chairman’s honorarium be reduced by half, but an amendment that it be reduced by 25 per cent, was carried. Mr. Fryday referred to the ever-increasing rates, and mbved that the secretary be instructed to write to the Eltham and Stratford Counies, protesting against the exorbitant rating values.—The motion was carried. The following directors were nominated to fill the two vacancies on the directorship: A. D. Johnson, F. Willan (retiring directors),. H. J. Shrimpton, and A. T. Sulsbeger. The result of the voting was: A. D. Johnson 32, F. Willan 33 (elected), A. T. Sulsberger 14, H. J- Shrimpton 9. Votes of thanks were extended to the manager and staff and the ladies who provided refreshments (Mesdames Willan and Fearon). At a subsequent meeting Mr. Fearon was reelected chairman of directors.