Thank you for correcting the text in this article. Your corrections improve Papers Past searches for everyone. See the latest corrections.

This article contains searchable text which was automatically generated and may contain errors. Join the community and correct any errors you spot to help us improve Papers Past.

Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image

THE DAIRY INDUSTRY.

THE MANGATOKI COMPANY. TWENTY-SECOND ANNUAL MEETING. The twenty-second annual meeting of th? Mangatoki Dairy Company was held in the Mangatoki Hall, yesterday, when Mr. Jacob Marx (chairman of directors) presided over an attendance of over a hundred shareholders. The report, while being able to claim a record output of butter and cheese, regretted that prices realised for Home consignments had been very disappointing, the arrival of shipments being almost invariably followed by slump prices. The year’s results would have been much worse but for the fact that about one-third of the season’s butter and cheese was sold by the directors ■ before reaching Home. After writing off £5OO for depreciation, there remained a balance of” £9022 IGs 3d. The directors recommended the payment of 5 per cent, on paid-up capital, absorbing £823 Ils 6d. The balance would be available for distribution on butter-fat.. Butter-fat for the season will realise slightly over 14d per lb. A quantity of butter for the coming season has been sold by the directors at satisfactory prices. The item “charges on consignment” appearing in the working account represented charges on two-thirds of the output. The company was now registered under The Dairy Industries Act, 1908.

Statistics: Total milk, 30,838,243 lb; but-ter-fat, 1,213,449.73 lb; test, 3.93; cost of manufacture, including depreciation, per lb butter-fat to f.0.b., 4.007 d; milk used for cheese, 10,847,896 lb; butter-fat used for cheese, 430,758.60 lb; test, 3.97; cheese made, 500 tons; yield per lb butter-fat, 2.6 lb; milk to 1 lb cheese, 9.G8 lb; milk for butter-making, 19,990,347 lb; butter-fat for butter-making, 782,690.79 lb; test, 3.91; creamery butter made, 419 tons 4 cwt. 1 qr. 13 lb; overrun, 19.98 per cent.; milk to 1 lb butter, 21.34 lb; whey butter made, 13 tons 4 cwt. 2 qrs. 10 lb.

The balance sheet showed that the total turnover had been £99,545 12s 3d, viz.: Butter account, £63,379 2s 7d; cheese account, £35,331 16s Id; casein account, £266 9s sd; Hawera and Mangatoki Co-op. account,

£l5l 7s sd; commission account, £lB 8s 9d: grain store account, £46 16s; rents, £351 12s 2d; wages, etc., totalled £5150 7s 7d; railage, butter and cheese, £893 2s 2d; freezing charges, £lBO4 3s 7d; grading fees, £lO4 4s 4d; butter-boxes, cheese crates, nails, etc., —Kaponga, £24 9s 10d;; fuel £1347 5s lOd ; £3323 2s 2d: requisites £2464 17s sd; power repairs and maintenance, £2248 10s 6d; expenses, £l3BB 15s 3d; interest. £729 14s sd; depreciation. £500; charges on consignment, £8595. CHAIRMAN’S ADDRESS. In moving the adoption of the report and balance sheet, the chairman said that the test was a record in the history of the company, as also was the inllk supply. The cost of manufacture also was lower. The statistics generally were very satisfactory. Only £5OO depreciation had been written off, but if they conisdered that £983 had been written off the stock, it would be recognised that they had written off sufficient depreciation, especially considering the fact that the year had been a bad one. The trouble regarding the price seined to be their produce had left their hands, for when* they had sold they got satisfactory prices. He pointed out that I it was generally recognised that some imI provement in marketing conditions was necessary, hence the endeavor to form the dairy pool, about which there had been considerable discussion. The butter that they had sent Home on consignment realised 134 s Cd, which charges, etc., reduced to lid per lb butterfat ; whilst the cheese sent Home of first quality realised just over Is per lb butter-fat. The heaviest consignment sent Home, viz., 1073 crates, only realised 70s, which, when they took the heavy charges off, only left per lb f.0.b., or 9d per lb butter-fat. The sales made, therefore, had to put up the average, and they were fortunate in being able to sell equal to 1/6 butter-fat. On consignment thej’ bad received a bare 1/- per lb butter-fat for two-thirds of the produce which had been consigned, and the other third, which had been sold at. 1/6, had pulled the other up. It had been a very dfflicult year; indeed, the past year had been one of the most disappointing he had known. For years they had consigned their produce through the one firm, and he did not know that they would have done better e under any other firm, as he had spoken to t other companies who had worse results. . Mr. T. R. Anderson seconded.

THE DISCUSSION. Mr. Astbury asked what was the reason for holding upKthe payment of last year’s interest. The chairman explain..; that they had no choice, it- being considered advisable to rearrange the stocks. In reply to furthw questions the chairman said that there was* st ill last year’s interest to be paid. This year there would be an additional 2d to be paid out,*making 1/2 for the season. So far in July they had paid out 1/6, and would do so in August, and possibly in September, as they bad sold their butter at 1/9, lie highest price at which any factory had sold this season. He wished they could have sold the whole of the season’s output at that price. In reply to Mr. O’Connor, the secretary stated that the cheese on hand at the end of last season realised rather less than the amount at which it had been estimated. Some discussion then took place in committee regarding an item in the liabilities side of the balance sheet, viz., the letter of indemnity indemnifying Mr. Marx against liability under his personal guarantee of £ll,OOO to the New Zealand Farmers’ Meat Packing and Bacon Co., Ltd. The report and balance sheet were then adopted. OTHER BUSINESS. For the three vacancies on the directorate, caused by the retirement of Messrs. G. Preece, F Hoskin and T. Lenn, there were six nominations, viz., the three retiring directors and Messrs. D. L. A. Astbury, A. H. Guy, and C. Willis. The voting resulted: G. Preece 63d, Thos. Linn 602, Fred Hoskin 555 (re-elected), D. L. A. Astbury 483, A. H. Guy 423, C. Willis 3 ~The chairman’s honorarium was fixed at £125, ,and the directors were voted 15s per meeting. Last year the figures were £l5O and 21s, respectively. Mr. H. B. Burdekin was re-elected auditor, the fee being fixed at 20 guineas. Mr Gatenby asked whether the directors would consider giving preference to married men as far as the accommodation would al]OW —Ti ie chairman said that this had been done. , „ A draft of the new memorandum of association and of the new articles of association was read and explained by Mr. J. L. Weir the company’s solicitor, and after considerable discussion was adopted. Appreciative reference was made to the work of the secretary (Mr. R. D. Douglass). A vote of thanks to the chairman, Mr. J. B. Marx, concluded the meeting. Luncheon, provided by the directorate, was dispensed by Mesdames O. Webby and J. HamHilton, who were accorded a vote of thanks.

BELL BLOCK COMPANY. TWENTY-SIXTH ANNUAL MEETING. There was an attendance of between 60 and 70 shareholders and suppliers at the twenty-sixth annual meeting of the Bell Block Co-operative Dairy Factory Company, Ltd., at the Bell Block Hall last night. Mr. J. S. Connett (chainman of directors) presided. The annual report stated: The directors have to report an increase of 1,197,4621b5. of milk over the previous season, but regret that the prices received - for cheese have been the lowest for several years. The new factory was opened and cheese-making commenced on August 20, and was continued until March 27, , when butter was made* for the balance of the season. The following figures show the amount of milk received, etc:—Cream sales period Julv 1 to August 19 : Bell Block, milk 300,464, butter-fat 1t»,262;l t »,262; Hillsborough, milk 100.G36, 1 butter-fat 4226; totals, milk 401,100, butterI fat 16,488. . Cheese-making period August. 20 ro March 127 -—Bell Block, milk 6,327,556, butter-fat 263,054, cheese 698,518, lbs. milk to lb. 1 cheese 9.05, yield 2.65, average test 4.15; ! Hillsborough, milk 2,953,362, butter-fat 124,i 38f>. cheese 330,479, lbs. milk to lb. cheese Ijt 93 vield 2.65, average test 4.21; totals, milk 9,280,918; butter-fat 387,440, cheese 1.028.997* lbs, milk to lb. che&se 9.01, yield

2.65, average test 4.17. Butter-making period March 28 to June 30: Bell Block, milk 1,109,747, butter-fat 56,474; Hillsborough, milk 564,481, butter-fat 28,451; totals, milk 1,674,228, butter-fat 84,925, butter .100,688, over-run 18.56, average test 5.07. Cheese made (factory weights) totalled 459 tons 7cwt. 531b5.; creamery butter «made, 44 tons I9cwt.; whey butter made, 8 tons 17 cwt. 321bs.

The profit and loss account shows a credit of £4225 5s lid when the books were closed on June 3,0. This balance does not take into account any probable surplus on cheese unsold,, which lias been taken into the accounts at the amount advanced against it. Since the

accounts closed a further £l4OO has been remitted by cable on account of surplus on account sales, which is now available for distribution in addition to the above balance. The directors now recommend the following allocation to suppliers: 6 per cent, on their capital paid up To June 30, 1'921, and a further payment of four pence per lb. of butterfat. supplied during December. January and February; twopence per lb', of butter-fat supplied during October, November and March, and one penny for April, May and June but-ter-fat. Any further surplusses will be paid out when the final account sales are to hand. A table of quantities and averages was attached giving comparisons with the previous season, which are given in parentheses:— Number of suppliers. 76 (80) ; milk received, 11,356,2461h5. (10,158,7841b5.) ; average test, 4.3 per cent. (4.22 per cent.).,; butter-fat, 458,8531b5. (429,8791b5.) ; cheese made, 1,028,9971b5. (929,0221b5.) ; creamery butter, 100,6881bs. (79,7261b5.) ; lbs. milk per lb. cheese, 9.011b5. (9.061b5.) ; lbs. cheese per lb. butterfat, 2.651b5. (2.661b5.) ; pay-out, (,31.63d); average grade, Bell Block, 91.03 (90.76) ; average grade, Hillsborough, 91.12 (90.9 i ; average grade creamery butter. 91.01 (92.59) ; average gradb whey butter, 88.46 (86.25). CHAIRMAN’S ADDRESS. Tn moving the adoption of the report and balance-sheet, the chairman said: “In the report for the year you will notice an absence of congratulation, which has been a feature for many years past. The fact of our average pay-out on this occasion being lower than any during the last six years possibly accounts for this, the comparison with last year hurting most of all. Your directors, in their desire to de the very best for suppliers and believing offers for cheese outputs would reach Is, turned down 11 5-Bd, which, if accepted, would have made the position very much better to-day. The price offered proved to be an excellent one, for the consignment average will came out, roughly, about 4d less. Our autumn make of butter was sold for 1-s 4%d, Is sd, and Is 6%d, when we should have consigned. We have something, however, to he thankful for ; for instance, the season was an ideal one for. production, and although our increase in output, has not been so great as some companies, yet it was no less appreciated. Then we sold our early butter at a good price, which proved better than consigning.

“We manufactured cheese In the 'spring of the year whep most dual plant were making butter and fared badly. Had we ceased cheese-making when others started to make it would have been to our advantage. Butter prospects In the early part of the year loo}:-| cd particularly bright, and but for the fact that the Imperial Government was holding in cold storage a large proportion of the previous year’s purchase there is no doubt good prices would have been realised throughout. As it was." until the stored butter was cleared out the market was lifeless, but immediately a clearance had been effected prices commenced to rise, arid consignments arriving later realised good prices. Fluctuations in prices throughout the season have caused widespread dissatisfaction, and a strong feel in- prevails that powerful Influences are at work playing into the hands of the speculator to the disadvantage of both producer and consumer.

“During the year a very determined effort was made by ieading representatives of the , Industry In the North Island to set up an -j organisation for the better marketing of our ( dairy produce,” continued Mr. Connett, “the . idea being to work in conjunction with im- ( porting firms and endeavor, if possible, to , bring about such improvements on cur present ( methods as would ensure a more regular, price . for our produce and nn elimination of the speculative element. Although there was a , certain amount of opposition shown in some j localities to the proposals put for- ] ward, on the whole the North Island was' fairly unanimous in support ( of the scheme. The South Island however, was not in favor, and it wm deemed : essential that' the whole Dominion export output should be included to be successful, the project was abandoned. The committee originally set up to go into this matter' is still in existence and working in conjunction with representatives of the South Island, to bring forward, if possible, some other scheme that might meet with unanimous support. “Shipping conditions during the year have been far from satisfactory, and have been responsible to a great extent for the variation In prices that has taken place from time ro time. Only by regular arrivals of shipments of dairy produce on the Home markets can we hope to obtain the bdst results. The combined dairy associations are at present negotiating with the shipping representatives for a better service and « cheaper freight rate. When it is remembered that it posts in the vicinity of lOd per lb fat to manufacture, transport--and market our cheese; it will be realised how necessary it is, with lower values prevailing, to reduce expenses to the minimum, as well as to increase production by every means in our power. We have been somewhat disappointed in the prices obtained for our cheese, in comparison with neighboring companies. From the reports on the quality received from London during the season, together with the knowledge that our fat content was on an average 1 per cent, higher, we expected better results. I am more than ever satisfied that there is no advantage in making a cheees over-rich in fat. it is in the same category as the 'fool butter’ that used to be manufactured years ago. Limiting the moisture content of butter to 16 per /'ent in effect provides that commercial butter shall contain at least 80 per cent, fat, and that being so, it seems to me quite reasonable to ask for an amendment of the law to provide that full-milk cheese shall contain at least, ,say, 34 per cent. fat. Up to the present but few companies are affected. As tests improve, however, this fart will be brought home to them and an agitation started to remedy the position, otherwise .the lead given bv the Hawera Dairy Company in making part-skim cheese will be followed. It is for the Government to’ decide which, in the interests ot the Dominion. Is preferable. "Tor the coming season,” said the speaker, "It is impossible to say yet which Is likely tp be file better proposition—blitter or cheese. Vour directors have In mind at present a combination of the two. viz.—nil l > u “ cr Hillsborough anil butter from the nights milk al Bell Block, making cheese from the morning milk. This could be done satisfactorily with the present plant and would only require an adjustment of values as between whey and skim milk. The new factory, I think. ' now meets with the approval of all suppliers, is certainly an asset Io the district, and showd be an Incentive tor all to keep up our standaid of milk supplied and to Increase the guan- > tltv Manv of us are yet far behind what could be done in the way of Ing to tile report and balance sheet, you will see that our milk supply has increased by 1. ner cent., our test by nearly .1 per eent., , „„d our cheese yield Is almost the same as last rear notwithstanding, whilst imlk to lb ot cheese has Improved tom 9.06 to 9 •“ 1 - °™ new building cost £8066. motor-shed £133. and workshop £3O. lb tn fob hare been reduced by 1 Per lb- ’ view of the fact that £630 has been spent 3 in thoroughly renovating the plant and sli f|- * tag into our new building, no depreciation has ‘ been provided for this year. The ! lor * y ' b ’ ■ will notice, is missing from the assets. It being thought to-be In the best interests-of «>e_eoni s pan/ to dlpsose of It. and. for the dme f to let our oarrylng by contract. Mr. Conm. t t then moved the adoption of the report and b a a nee sheet. v Mr. H. Salway seconded. i After a brief discussion the report and balance sheet were adopted. f OTHER BUSINESS. Mr N W. Hill, representing Hillsborough, ’ and Mr W. Ogle, representing Beil Block, were re-elected to the directorate unopposed. Mr. A. J. Tunbridge was re-elected auditor h lO Heartv o, X" y of thanks were accorded the . Taylor) had done exceptionally good work de ® ’"The d ;™orts'attached to each accounts sales were read by the secretary, these showing that th" company bad upheld its good standard 4 ,)i departments, both In butter and cheese.

The chairman remarked that Mr. Taylor had held his own at the Hawera Show. Several of (hose present spoke in appreciative terms of the good results achieved by him. In acknowledging the vote accorded to him and the staff, Mr. Taylor said the results-were due to the good quality of the milk received. The results achieved could be still improved upon If all paid a little more attention to quality, especially at trying times of the year. He pleaded that all suppliers should aim .it this during the coming year. The secretary Mr. R. Pepperell) acknowledged the vote accorded him, stating that he had attended all the annual meetings of the company, the first two years as a supplier and 24 as Secretary. He pointed out that, owing to the high freights-for cheese, the.payout was at least 2%d a lb less, so that producers had a very real grievance against the shipping companies.

The proposition put forward by the chairman in his address, that the joint manufacture of butter and cheese—making butter at Hillsborough from the night's milk at Bell Block and cheese from the morning, milk—was discussed at length; attention being directed to the Hawera proposal to make a part-skim article. No decision was arrived at.

The chairman pleaded that .more suppliers should take an interest in herd-testing. At present only about 12, with 300 to 400 cows, were placing their cows under the test records conducted by the association. He could assure them testing showed the remarkable possibilities which could be achieved in the way of production.

The chairman’s and directors’ honoraria were fixed at the same as last year, viz., £5O to the chairman and 15s for each meeting attended by ilirectors. They were also thanked for their past services. > Refreshments, provided by the ladies, were handed round at the conclusion of the meeting, and were much appreciated. THE TUNA COMPANY. THE ANNUAL MEETING. The annual meeting of the Tuna. Co-operative Dairy Factors’ Coonpany, Ltd., was held on Tuesday, the chairman of directors (Mr.. W. Skedgwell) presiding. Ten shareholders were present. The annual report stated:—The season has been remarkable for increased output, and great fluctuation of Home prices of produce. The directors thought it advisable, after consigning the bulk of the output, to sell the remainder in store, being 441 cases of cheese, at 8d f.0.b., and are consequently enabled to estimate the final pay-out with fair accuracy. Suppliers have on an average received rather more than li%d per lb for butter-fat, and the balance of working account equals about 4d imore, making a total of 15%d. Whey butter was consigned and realised 14 1 ,4 d per lb f.o.b. Manufacturing expenses absorbed 3%d per lb of butter-fat, practically the same as last year. Storage and interest charges show a considerable reduction.

The year’s statistics showed the following figures: Milk received, 4,821,015 lb; average test, 4.07; butter-fat, 196,192 lb; cheese (factory weight), 523,631 lb; whey butter, 13,611 lb; milk to 1 lb of cheese, 9.27 lb; cheese to 1 lb of butter-fat, 2.67 lb.

In moving "the adoption of the annual report and balance sheet, the chairman congratulated the company on the success of the season and the pay-out of the factory. The pay-out compared favorably with that of other companies. At the beginning of the season the market looked promising, but did not turn out as well as expected. The output had been consigned by the directors, as there wei'e no offers for sale. The secretary stated that 7%d was the average price received for cheese over the whole season and Is 3d was received for whey butThe report and balance sheet were adopted. The retiring director, Mr. Varnham, was reelected. Mr. J. H. Thounas was re-appointed auditor. It was decided to secure estimates! of the cost of Installing a larger churn for the purpose of making butter at the end of the season. The estimates will be submitted to a later meeting of the shareholders. The chairman and directors’ honorariums were fixed at the same figure as last year. It was resolved to commence making cheese as early as possible. was expressed as to whether butter or cheese would be the more payable. The opinion was that the prospect for cheese was no better than of last Votes of thanks were accorded the manager, staff, the chairman, the directors and the secretary.

Permanent link to this item
Hononga pūmau ki tēnei tūemi

https://paperspast.natlib.govt.nz/newspapers/TDN19220817.2.10

Bibliographic details
Ngā taipitopito pukapuka

Taranaki Daily News, 17 August 1922, Page 3

Word count
Tapeke kupu
3,628

THE DAIRY INDUSTRY. Taranaki Daily News, 17 August 1922, Page 3

THE DAIRY INDUSTRY. Taranaki Daily News, 17 August 1922, Page 3

Help

Log in or create a Papers Past website account

Use your Papers Past website account to correct newspaper text.

By creating and using this account you agree to our terms of use.

Log in with RealMe®

If you’ve used a RealMe login somewhere else, you can use it here too. If you don’t already have a username and password, just click Log in and you can choose to create one.


Log in again to continue your work

Your session has expired.

Log in again with RealMe®


Alert