OPUNAKE DAIRY CO.

Taranaki Daily News, 15 August 1922, Page 8

OPUNAKE DAIRY CO.

THE ANNUAL MEETING. The annua) meeting of the Opunake Co-op-erative Dairj* Company, Limited, was held on Saturday. Mr. E. G. Bayliss, chairman of directors, presided over an attendance of 22 members. The annual report stated .• Owing to the rapid fluctuations in prices of butter, the year ending June 30, 1922, has proved a most anxious one to your directors. The output was handled on open consignment by Messrs. Joseph Nathan and Co., in conjunction with the Angio Continental Company, Ltd. Liberal advances were drawn against the earlier consignments, which, unfortunately, arrived on the market during the memorable collapse of the butter market in December last. The returns for these consignments fell far short of advances received, consequently it was found necessary to curtail advance payments to suppliers to 9d per lb butter-fat for the months of December, January, and February. It was then found possible to bring advances back «o Is per lb butter-fat for the remainder of the season. During the months of August and September 1/6 and 1/3 per lb butter-fat was advanced, respectively. In following the policv of returning to suppliers an equal payment over the whole your directors have made a reclamation of 6d per lb butter-fat on August and 3d per lb hntter-fat on September. Of the available balance at the closing of the books, a surtr of £l2OO 4s 9d has been distributed to suppliers, being 3d per lb butterfat over the months of December, January and February. It is anticipated that upon the realisation of stocks on hand a total payment of 14%d will be made over the wnoie season. The manufacture of lactic casein curd was commenced in January at the main factory only, but owing o heavy- deterioration in the curd during delayed transit to Aramoho on account of the Whenuakora bridge washcut, results wore nut satisfactory, and the manufacture was discontinued. The linny payments on account jf easeip for the 1920-21 season should be received about October and will then be distributed. It is satisfactory to note a substantial increase- in the quantity of butter manufactured. Statistics for the year are as follow: A total of 6,292,392 lb of milk were received of an average test of 3.73; returning 2,349,578 lb butter-fat, from which 275,756 lb of butter were manufactured. The overrun was 17.3 G, average grade 91.45.

In moving the adoption of the, report and balance sheet, the chairman traversed the working of the past year, which he said had been brought to a successful conclusion. There had been an increase of 36 tons, of butter manufactured, and a decrease of 1.34 d per lb butter-fat in the cost of manufacture and to f.o.b. He strongly urged suppliers to test and systematically cull their herds, which If done would assist the community to tide over the lower prices now being received for produce. The motion was.seconded by Mr. J. Mcßeynolds, and carried after a short discussion. Mr. H. J. Newman was reappointed auditor at a fee of £lO 10s. The election of directors for the ensuing year resulted as follows: Mr. F. Carter (director of the Ihaia Road creamery) ; for the six other vacancies—Messrs. E. G. Bayliss, J. Humphries, \V. L. F. Chambers, Mono Hickey, John Hickey., and W. Wan. ' The chairman was voted an honorarium of £3O for ihe past year’s services. A hearty vote of thanks to the staff was carried by acclamation, ai was a similar vote to the outgoing directors. At a subsequent meeting of directors, Mu. E. F. Bayliss was unanimously re-elected chairman.—Star.