GREYTOWN BUTTER AND CHEESE FACTORY.

Wairarapa Daily Times, Volume 6, Issue 1709, 12 June 1884, Page 2

GREYTOWN BUTTER AND CHEESE FACTORY.

(From the Wairarapa Standard.)

A meeting of tbe directors was held at the office of the company on Monday evening. Present - Messrs 0. Phillips, W/ Udy, Judd, Haigh, and G.Hallard.

In the absehcn of Mr Buchanan, M.H.K:, during the earlier part ot the meeting, Mr Coleman Phillips was called to the chair.

The minutes of last directors' meeting were read and confirmed.

The greater portion of the meeting was taken up in preparing report for the annual meeting of'shareholders. Messrs Buchanan and Phillips were ballotted out as directors, .

THE ANNUAL MEETING, After the directors' meeting the general meeting was held, about 20 persons being,present. Mr W. 0. Buchanan, M.H.R., occupied the chair, , The minutes of the last annual-meet-were read and confirmed, The Chairman said the balance sheet had been circulated nmong the shareholders; and he need not £o through the details. He would read the report of the directors, REPORT,. .".'•■': In submitting the balance sheet of the Company for the year ending May 31st, your directors regret that the

working of tho Company shows a loss, .but this was only to bo expected from tho three following causes:—l. The small amount of capital subscribed, 2. The small amount of milk operated upon, and 3, a necessary indirect loss consequent upon tho establishment of such an industry. With respect to the first cause referred to, it will be seen that only 706 shares (£1 each) have been allotted or applied for out of tlie 1000, (of which £702 5s has. only been paid up), whereas the Government estimate for ; a 200 cow factory is £863 5s Bd, and this estimate is bused upon the cost ol American factories of a similar description. Your directors have, therefore, effected for £702 5s what should have cost £863 5s Bd, and have worked the factory for two years to the satisfaction, at least, of the suppliers of milk, who have been well pleased to find this outlet for their produce. Satisfaction expressed by them implies a direct benefit to the Greytown district, and your directors would bo pleased to see the balance of the 294 shares taken up. As to the second couse of loss, viz,, the small amount of milk supplied. Your directors need only say that the Company's manager—Mr Shaw—could have manipulated twice the quantity of milk with little, extra cost to the Company had it been supplied. Thus it will be seen from the profit and loss account, that tho clineso made (see cash sales, stock in hand, and accounts due) amounted to L 652 4s, but that tho working expenses were L 252 7s Oil, which left only L4OO to pay for L 520 worth of milk, flow, had double the quantity of milk been supplied, the working expenses would have been about the same. Your directors, therefore, desire to point out to the dairy farmers the absolute necessity of their .increasing their supply of milk to the factory, a larger amount of cheese to be made by the Company and a profit made thereon at no increased cost, Unless this be done the excessive cost of manipulating a small quantity of milk will absolutely put a stop tc future operations. Seeing also that the cheese made has found a ready market—a matter which reflects most favorably upon Mr Shaw's energy ant' ability; and, further, seeing that tin English market is more readily reachec now than formerly by the direel steamers, and that more of the Canter bury produce will find its way to Eng land, it is evident tint an increase! price may he realised for the Company'.' output. Directly this increase mor than covers working expenses and i dividend, a corresponding increase wil be made in the price allowed for th milk.

As to the third cause of loss; The necessary loss consequent' upon tho establishment of the industry, your directors have little or nothing to say, Such industries as these have to work through two or three years of trial, and if they are found advantageous to the district in the long run, shareholders must lie content. The matter now rests with the dairy farmers, themselves. The balance to the debit of profit ami loss account (£197 2s sil) must be made up by a few more shares being taken up in the district, and by the supply, next season, of moro milk to the factory. Unless this be done those persons who have found a leady sale for their butter during the past two seasons, simply in consequence of so large a quantity of their neighbors' ' milk being taken out of the market, may find that the cessation of operations for a season liy the company would throw so tunc!) butter into the market that the sale of their own produce would be partly spoiled, At the same time, your Directors wish to exress their firm belief in the ullimale success of the company's operations, The outlook for a fair price for cheese is good, and the demand for more

milk means, perhaps that more cows should be milked. This implies an increase of dairy stock in the district which means increased wealth to the dairy farmers, and their prosperity leads to the prosperity of the storekeepers and the railway. We are of opinion that more dairy stock should at once be put on in the immediate ■vicinity of the factory. Your Directors, before retiring, wish also to testify to tho kindness and the energy of the Company's SecretaryMr Wood,—who, feeling himself part and parcel of tho venture, lakes substantial interest in the operations of the Company.

During tho season, which commenced on the Ist of October, 1883, and closed on the 28th February, 1884, the factory having thus been working for a little under 22 weeks, 33,870 gallons of milk has been purchased at an average of 3d and 10 IGths of' a penny per gallon, and H tons 1 cwt 1 qr 28 lb of :!>eese lias been made and sold at an average of 4f d per lb. Your Directors' have sent Home 5 cwfc of cheese to London, by the British Queen, through tho N.Z.L and M.A, Co,, as a trial shipment, but there has not beon time for a return on this account yet. In conclusion, your Directors feel that a word of praise is due to the manager-Mr T. Shaw—for the firstclass quality of the cheese ho has succeeded in turning out. The balance sheet is scarcely sufficiently explanatory, but it fairly shows the position, The working expenses of L 252 7s 9d contains some items which shonld have been passed to capital account. W, C. Buchanan, Chairman. The Chairman gavo an explanation of tho figures appearing in tho balance sheet. The loss upon the year's operations was close upon LIOO. Despite-, tho fact that cheese hod been low in price, if the Grey town Factory had been supplied with half tho milk sent to tho Taratnhi Factory there would have been no loss. It was gratifying to find that the cheese was considered of first-rate quality in Wellington, and Messrs Turnbuli and Co had taken nearly the whole of it, giving even a haH.pennyporlb more far it "than for Canterbury cheese, When the season commenced the farmers received k\ per gallon for the milk, but they had to reduce it to 3sd-cven this was more than the Canterbury farmers received, their price being more, like 2Jd to 3d, With regard to future operation, if the price of cheese remained low they I

I would not be able to give 3|d: shareholders would not. bo content to go on midget no return. , Bub bo hoped (hat the prices would be higher, and that that there would be a larger milk supply to enable the company to make a profit. The shortness of capital was another point. If the- full amount of XIOCO were subscribed, the directors would bo able to uso machinery which would greatly economise tho working. He hoped the remijaing shares would betaken up and the factory bo put upon a good footing, .He moved tin adoption of the report, Mr Coleman Phillips seconded.

Mr Loashy doubted, if a.double supply of milk had been obtained, that i there would have been no loss. It appeared to him, judging by the figures on the balance sheet, that the factory would lmvo required four times the amount h cover the deficiency, He did not think the shareholders could coiifatulnts themselves. It was evident that tho mi 1!; must be obtained st a smaller cost, and a 'higher priori obtained for the cheese if they were to continue working, The meeting then took ihe conversational form, and the figures ot the balance sheet were commented upon at some length, Mr Gray could not see bow success could bo obtained when the factory paid 3£d per gel. for milk and only got 4-Jd per lb for cheese, Mr Welch thought the quantity of milk would be doubled next season. He intended to send bis milk and take up some shares. Mr Phillips said the times were bad, and they had had. to contend against them J tho loss was not a heavy one, and it was probable that they would get a better price for cheeso next season. Mr Welch thought there were some who would take up shares if the factory would accept of tho milk ns payment. The report and balance sheet were adopted.

Messrs Buchanan and Phillips were re-elected as' directors, and Messrs Wyett and Skeet as auditors.

THE BAD AND WORTHLESS are never imitated or counterfeited. This is especially true of a family medicine, and it is positive proof that the remedy imitated is of the highest value, As soon as it had been tested and proved by the whole world that Hop Bitters was the purest, best and most valuable family medicine on earth, many imitations sprung up and began to steal the notices in winch the press and the people of the country had expressed the merits of H. 11, and in every way trying to induce suffering invalids to use their stuff instead, expecting to make money on ■ the credit and good name of H, 13, Many others started nostrums put up in similar style to IT, 13,, with variously devised names in which the word "Hop" or " Hops" were used in a way to induce people to believe they were the same as Hop Bitters, All such pretended remedies or cures, no matter what their style or name is, and especially those with the word " Hop" or " Hops" in their name or in any way connected with them or their name, are imitations or counterfeits, Beware of them.

Touch none of them. Use nothing but genuine American Hop Bitters, with a bunch or cluster of Green Hops on the whito label, and Dr Soulc's name blown in the glass, Trust nothing else, Druggists and Chemists are warned against dealing in imitations or counterfeits. . . ■ '