THE OAIRY INDUSTRY.

Taranaki Daily News, 14 August 1922, Page 7

THE OAIRY INDUSTRY.

WAI-Toi-TOl COMPANY. The seventh annual meeting of the above company yas held in the factory on Wednesday last, Mr. J. F. Phillips presiding over a good attendance of shareholders. The report stated that while the output had shown a substantial increase, the prices received for both butter and cheese had been very irregular, and showed a much lower range of prices than for many years past. For cheese making there was received 4,116,442 lb milk, containing 169,629 lb butter-fat, making 442,000 lb of cheese (factory weight), an average of 9.31 lb milk per lb cheese, and a yield of 2.6; the average test for cheese making period being 4.12. From April 1 butter was made: also a small supply of cream was received during the cheese-making period. The total butter-fat received for butter-making was 46,101 from our suppliers, and 2278 lb from the White Cliffs Dairy Company during .Tune, a total of 42,879 lb butter-fat, making 48,825 lb butter, an over-run of 15. M per cent. ; also 11,587 lb of whey butter was made. The cheese unsold had been taken ipto the balance sheet at the amount advanced against it, that is three shipments at 6d per lb. and three at 5d per lb. An average of 12%d per. lb of butter-fat had been paid during' the season, and directors recommended a further payment of one penny per lb over the whole year, any further iiayment depending on the price realised for the cheese unsold at the date of balance. Table of quantities and averages compared with two previous seasons: Number of suppliers, 1920, 16; 1921, 23; 1922, 28: milk received for cheese making, 3,093.595 lb, 3,930.028 lb, 4,116.442 lb; butter-fat, 124,455 lb, 160,754 lb. 169.629; birtter-fat for butter making. 2,986 lb, 10,135 lb, 42,379 lb; cheese made, 336,560 lb, 425,500 lb, 442,000 lb; lb of cheese to 1 lb butter-fat, 2.70 lb, 2.64 lb, 2.6 lb; lb of milk per lb of cheese, 9.19 lb, 9.23 lb, 9.31 lb; average test, 4.02 per cent., 4.09 per cent., 4.12 per cent.; average price per lb butter-fat, 23d. 31d, 28d; average grade cheese. 90.18, R 9.42, 90.45; average grade whey butter. 86.09; 84.35, 87.87; average grade creamery, , 86.28, 90.70; cost to f.o.b. per lb cheese and butter, 1.98 d, 2.89 d, 2d. CHAIRMAN'S ADDRESS.

The chairman in moving the adoption of the report and balance sheet, congratulated the suppliers on the large Increase in manufacture. At the commencement of the season matters looked fairly bright, and although 11 %d was offered it was not taken, as it was anticipated a higher figure would be realised, and it was decided to consign. Prices were all riaht for n time, but they then fell. At the end of January, no cheese was shipped for five or six weeks and this cost extra storage; when it did arrive Rome the (market was practically glutted and prices went down according] r. However, they rose again, and at the end of the financial year there remained some 800 crates unsold, and from the returns already to hand they had every reason to .anticipate a further bonus. He also referred to the excellent results achieved by the manager (Mr. T. Taylor), as the grade, quantity and test had all gone up, the official grade for the season being 90.55; whilse there were only 35 cases second grade cheese, 13 cases of creamery and 5 cases whey butter. He thought they should place on record their appreciation of the work accomplished hy Mr. Taylor. Mr. S. Sutton seconded the motion, which was carried unanimously.

It was explained that nt the last annual meeting it had been a recommendation to the directors to close the financial yaer earlier, but It had been considered this waa unnecessary as by so doing they would not have been enabled to pay out any bonus. Prom the returns to hand it was anticipated there would be some £5OO to yet allocate, which amount might bo still increased! The cost of manufacture bad decreased by over %d per pound, and as the indents for suppliers for the ensuing season showed a considerable reduction, a further decrease might be anticipated next year. GENERAL. Messrs. C. Willison and A. Johnson were anpointed directors In place of Messrs. Willi"on and Spurr, whn retired by rotation. Mr. Tunbridge was re-elected auditor. The ntiestion of herd testing was referred to. it haring been suggested that ns some 500 rows would probablv he tested in Okau and a number in TTruti, that Wai-toi-toi would make a suitable central station. A general discussion ensued, but no action was taken in the matter. With regard to the course to ba adopted for the ensuing season, the secretary explained that in anticipation of enquiries as to probable prices, he had communicated wi*h all the leading firms, and the result was that there was practically nothing doing and no offers had b«en made. Eventually, on the motion of Mr. A. Sourr. seconded by Mr. F. Morris, it was decided to leave the matt-r of disposal, either bv consignment or straight out selling. If suitable offers were received, in the hands of the directors. Mr. S. Sutton proposed, and Mr. Ridgley seconded, that the chairman be voted an honorarium of £25, reference being made to the large amount of time and expense incurred in the discharge of his duties. Mr. Phillips In returning thanks, said he would have preferred to have not accepted any remuneration, but as it was the unanimous wish of the meeting, he would do so. He considered that in working for their interests he was advancing his own. and would always do his best in this direction. It was proposed by Mr. Morris that the directors receive tbe usual foe of 10s 6d per meeting. Seconded by Mr. Ridgley and carried. Mr. G. Baker in proposing a vote of thanks to the secretary, referred to the gnod work achieved bv Mr. Pepperell, in the matter of arranging the pay-out each month, so that the suppliers should receive the highest amount possible and still not ovovsfpn mark. This was seconded hy Mr. Snnrr and carried. Tn acknowledgement, Mr. Penp°rell remarked that the bonus was small (being only Id), but he Dointed out that whereas •many companies had nnlv made advances of 9d and lOd. the Wai-toi-toi factory had averaged over Is for the s**ason. and there was still more to follow. Although it was impossible to forecast the state of tbe market, they had every reason to anticipate a more prosperous year. Mr. Sutton proposed a vote of thanks to the manager and staff, and complimented them upon the satisfactory grade notes. There had been less inferior milk received than in previous years, and he thought suppliers generallv were exercising more care in this respect. This was seconded by Mr. Phillips and carried. A vote of thanks to the chair concluded the proceedings. At a subsequent meeting of directors, on the motion of Mr. Sutton, seconded by Mr. Mooney, Mr. J. F. Phillips was appointed chairman for the ensuing year. Amongst the business transacted, Messrs. Nathan and Co. were appointed agents for the company rhould it he decided to consign, the right being reserved to sell at any period during the season. The contract for carting for one year has been let to Mr. F. Brenmuhl, of New Plymouth. ——— OPUA ROAD COMPANY. The eleventh annual meeting nf the above company was he’d at Opunake on Wednesday, Mr. T. TI. Sinclair, chairman of directors, presiding over an attendance of nine shareholders. Statistics: Milk received for cheese making, 2.738.899 lb: butter-fat received for cheese making. 103,214 lb, cheese manufactured, 274,8451 b. lbs. milk to lb. cheese. 9.96 ; lbs cheese tn lb butter-fat, 2.66; average test, 3.76. Payment <luring the year averaged 10.9 d per lb bntlerrfni., and estimating the cheese on hand at fid pu* lb there would be a credit balance of e 648. As the returns for this produce are received t’”»y will be distributed to suppliers hy . way of further payments. Vho receipts for the year were.: Cheese sales ■Qi»93" 4s 7d, cheese on hand £BO4 19s 6d. A sum £4694 19s was paid to suppliers. Tl‘c chairman and general manager were each voted #>2o for services during the year. Mr. J-. R. Crulckshanks, representing Messrs. Collett and Co., of New Plymouth, was present and addressed the meeting on matters pertaining to the marketing of produce. He wfts accorded a vote of thanks for his ad-

■The--folio wing were elected directors ~for the ensuing year: T. H. H. Sinclair, Geof- Feaver, S. R. Fearer, A. Callender, and R. Pill. At a subsequent meeting of directors Mr. Sinclair Wfls re-elected chairman.

The chairman in., moving the adoption ofr the report and balance sheet said he regfceted that the past season had again proved disappointing. However, the sudden rise in the market in June would help shareholders considerably. The cheese exported, but unsold, for the purpose of balancing, was taken in at the amount of the advance drawn against same at the time of shipment. Cheese unshipped was valued at 6d per lb. These estimates, made on June 31, were proving to be well within bounds, for with the receipt of further account sales a still conservative estimate showed the sum of £366 over and above the balance already shown. This would enable a total payment over the whole season of 13d. The ideal dairying weather for the past year was shown by the Increased production aud did, to some extent, compensate for the lower prices ruling. The increase at the factory had amounted to 18 tons 11 cwt., representing 17.78 per cent, over the previous season. Acting under instructions from an extraordinary meeting held in June, the directors had gone into the question of installing a whey butter plant and taken steps to have the plant put in.

MEREMERE COMPANY. The annual meeting was held on Thursday. Tbe annuul report stated: The past season has brought much reduced values in dairy produce, but the increased production has partly compensated for the loss of values. Our stocks afloat and in store at balance date, viz., 826 crates of cheese, have been valued at 88s per cwt. On this estimate the payout for the season, after providing for 6 per cent, interest on shares, will be Is 3d. In order to cope with increased supply next season, additional plant has been installed, viz.— a 12501 b. churn, a 200-gallon cream vat, pasteuriser, and cooler, which will allow of our manufacturing a large proportion of our supply into butter should the market warrant it. The following statistics were appended: Pounds of milk received, 6.978,745: pounds of butter-fat, 265.906. Cheese statistics—Pounds of milk, 6,772,709; pounds of butter-fat, 255,743; cheese made. 691,573 lb; pounds of milk to 1 lb cheese, 9.79; pounds of cheese from 1 lb butter-fat, 2.70 : average . test, 3.77; cost of manufacture per lb cheese. 1.38 d; cost of manufacture per lb cheese (including depreciation) 1.44 d; cost per lb cheese to f.0.b.. 1.70 d. Butter—Starter, whey and creaimery butter made, 26.553 lb. Mr. Death said that owing to the delay on the part of the chairman in getting to Hawera the company was not ahle to avail itself, on occasion, of an offer of Is 9d for butter. The chairman said he arrived in the afternoon. and found that the offer was withdrawn in the morning. As a matter of fact there was no real offer, but. a mere statement that an offer could be obtained. The action of the directors In dealing with the outDiit for the coming season and tying the hants of the new directors was objected to, and there was some criticism by Messrs. Death and Winks, the former holding that the directors had acted with unnecessary haste, and the latter that, as the new directors would have to accept any blame at the next annual meeting, their wishes should have been consulted. Mr. Winks moved that it he recommended to the directors that no act.on be taken to deal with the output for the next season until after the annual imeeting. Mr. Lee said he had disapproved the old hoard dealing with the output for the present season, but had been over-ruled, and had been told that it was the practice of boards to deal with the output for tbe incoming seaTt Was pointed out that the annual meeting may be too late for action to be left to the new d.rectorS. The motion was seconded by Mr. Campbell and carried. The sum of £2O was authorised tn be paid the chairman for his past year’s services.

THE TE POPO COMPANY. THE ANNUAL MEETING. The annual meeting of the Te Popo Co-op. Dairy Company, Ltd., was held at Stratford on Saturday, the chairman of directors (Mr. G. C. Knox) presiding. The annual report was as follows: The balance shown is an approximation pending the sale of cheese now in store, which has been valued at 7%d f.o.b. If that estimate Is realised it will pay an average of 13%d per Ih butter-fat for the season. There is. however, a reclamation to make on last season that will reduce the net payment to Is per lb butterfat. of which suppliers have already received lOd.” The following statistics show the working results: Milk received, 1.429.805 lb; average test, 3.88: butter-fat, 55,558 lb; cheese (factory weight), 144.412 lb; milk tn 1 lb cheese, 9.90 lb: cheese to 1 lb butter-fat, 2.60 lb. The chairman moved the adoption of the report and balance sheet. Mr. T. Gibbs complained that the annual report was a paltry affair and did not give the position of affairs as well as the reports of other companies. The chairman was a delegate at the dairy pnol meeting at New Plymouth, but he had nothing to say about it. A shareholder asked why the buyers advanced the company a price so high above the market price of the cheese. The chairman said it was expected that prices were going to be higher than they actually were... An over-payment of l%d per lb was considered by shareholders as an unreasonable discrepancy. Mr. J. Brown thought It might bo rt bait by the buyers to secure the next season’s output. This view was not agreed with. It being stated that the buyers, were deceived themselves and had lost heavily. Mr. Gibbs did not think it was a businesslike method to leave the payment of the necessary refund to the end of the season. It was pointed out that, the past, season was without precedent, and the directors could not possibly tell what prices would be from one month to another. The report and balance sheet were adopted. Mr. J. Brown gave notice to move at the next annual meeting that "dry” shareholders be not eligible for. election to the directorate. The retiring directors were Messrs. G. C. Knox and M. M. Knox, and there was also a vacancy caused by the resignation of Mr. J. Gibbs. The election resulted as follows: A. W. Budge 10, M. M. Knox 9, J. Bishop 8, an G. C. Knox 8 votes. A re; ballot for the last place, between Messrs. G. C. Knox and Bishop, resulted in Mr. Knox being elected by 6 votes to 4. Mr. A. J. Barr was reappointed auditor. Votes of thanks were accorded the manager, the chairman and directors, and the secretary and assistant secretary, for their services during the year. At a subsequent meeting of directors Mr. Budge was elected chairman. TUTUTAWA DAIRY COMPANY. THE ANNUAL MEETING. The annual meeting of the shareholders of the Tututawa Co-op. Dairy Company, Ltd., was held at. Tututawa yesterday, the chairjman. Mr. J. Jacobsen, presiding. ! The annual report was as follows : The output has increased by 80 per cent., front 56 tons to 80 tons. Suppliers have received an average of lid per lb for butter-fat, and, if the considerable quantity of cheese unsold realises the estimate, there will be about 3d more to allocate. It will, however, be about two months before the final result, of consignments Is known. The. • has as yet been very little reduction in expenses of manufacture and placing f.0.b., which still absorb 5.42 d per lb of. butter-fat. The statistics for the year showed the following figures: Milk received 1,753,533 lb, average test 3.74; butter-fat 65,641 lb;' cheese (factory weight), 179,646 lb; milk to 1 lb cheese, 9.7 G lb; cheese to 1 lb butter-fat, 2.72 lb. The retiring director, Mr. Johnston, was reelected to the directorate, and Mr. A. Coleman was reappointed auditor. Mr. Jacobsen was re-elected chairman.

MAKETAWA COMPANY The annual report of the Maketawa Company states that the butter made was 192 U>us> or 41 ton* more than 1b the prevlou*

year, an increase of 28 per cent. Suppliers had received 13.142 d for butter-fat. A further pay-out would bring the amount to over Is 3U.d. When the casein was disposed of it is hoped to pay l%d additional to casein suppliers. Statistics: Butter to 1 lb butter-fat. 1.1671 b; average test milk. 4.173; cream, 41.65; cost f.0.b., 2.95 d.