THE GREYTOWN BUTTER AND CHEESE FACTORY.

Wairarapa Daily Times, Volume VII, Issue 2030, 1 July 1885, Page 2

THE GREYTOWN BUTTER AND CHEESE FACTORY.

A meeting of the shareholders of the Greytown Butter and Cheese Factory took plitce in the Institute, Grey town, on Monday night. 'Thore were eighteen shareholders present, Mr Buchanan in the chair. There was scarcely any business of importance transacted, beyond the adoption pf the report, Messrs Hullard and Kimberley were elected Directors.

The following is the reportGentle-1 men,—Your Directors, in presenting you with the statement of accounts for the ] past year, regret, although the Company has been successful, and advantageous to j the district, that the financial aspect of the Company's affairs is not so satisfactory. as your Directors could wish. This is largely owing to the cause of insufficient capital at the commencement. Your Directors have found a working capital of LI2OO absolutely necessary, whereas you have only furnished them with L 703 10s. 1 Tho Company's operations are now fully established, and if tho shareholders will only meet their Directors half way by subscribing the balance of the unallotted shares, viz,, £296 10s, the gentlomen entrusted with the management of your affairs may be able next year to reduce the Bank overdraft to the Company's actual capital, A small dividend can then be declared, seeing that the interest now paid tho Bank upon overdraft could very properly be applied toward that purpose. 'By* the last balance sheet submitted to you,' tho amount duo to the Bank was £222 10s 9d, and by the present balance sheet the amount is L 723175, being an increase of LSOO. This increase is accounted for as follows: L 65 for another vat, extra cans, &c,, to deal with the increased quantity of milk supplied to tho factory,LIOG for cheese and material on hand, Ll2O for account outstanding, and L 95 for the erection of the necessary piggeries. These sums account for L 386 of the LSOO. The balance of Lll4 is made up with sundry items, among which are included the loss on the first trial of pig keeping, viz,, L 35 5s 3d, and the loss on the working, L7317s 4d (about one ton of cheese has gone bad, which accounts for LSO of this latter item). As will be seen by the balance-sheet last year, the loss on the working expense account was L 155 6s Be], so a considerable improvement fuis beeti made herein. Last year 33,870 gallons of milk were supplied to'tha factory, producing 31,529 pounds of cheese; this year 65,477 gallons of milk have been received, producing G8,287 pounds of cheese, so that the Company's operations have been doubled in one year, and the milk supplied has produced a larger proportionate quantity of cheese. Your director having erocted the necessary piggeries, will be able next year to sell tho whey to the highest bidder. This year the Company would have had to pay very nearly a sum equal to the loss on the pigs (£35), in order to get the whey carted away. It is gratifying to know, however, that year after year tho Edendale Factory has been working more money out of pigs than any other item connected with the factory, The loss on pigs in tlio Greytown factory is entirely owing to inexperience in feeding. The whey should not have been given new, but kept for a day or two. Next year this matter will be rectified. Your Directors exceedingly regret that this year's balance sheet does not show a more favorable return, but under tho circumstances, they can only ask you to bear with in their endeavours to make this important industry a success, When the milk suppliers fully realize the importance of the factory system, together with the -keeping of pigs, there is little doubt that they will themselves do their utmost towards, subscribing,, the . extra capital required, Your Directors feel

— that in firmly establishing the above 1 ' , industries, you and thoy arq consulting the best interests of the district, Tho factory 'manager, Mr Shaw, having now left, it will bo necessary to replace him' and it may also be well to apfikt i managing director. You will n<W.kt about a ton of cheese lias gone bacLwnich the late manager alleged was in consequence of insufficient care on the part uf some of the milk suppliers, some of tho milk having been sent slightly turned, (milk suppliers will kindly ,bear this in mind.) Your _ Directors are in receipt- of assurances which point to a much "!tor ~ supply of milk next season to the factory. Two directors, Messrs Judd and Hollatd, retire by rotation, who are eligible d'erelecfciok W. C. Buchanan, ' ' '' Chairman.