NEW ZEALAND FARMERS' DAIRY UNION, LIMITED.

Wairarapa Daily Times, Volume XVI, Issue 5113, 26 August 1895, Page 3

NEW ZEALAND FARMERS' DAIRY UNION, LIMITED.

SECOND ANNUAL REPORT. The second annual report of the above Association, for the year ending June 30th, 1895, to bo submitted to a meeting of shareholders, to bo held at Wellington on August 29tli, reads as follows Your Directors regret that 'in handing you ■ tho Second Annual Report, they are nnablo to attach the usual Balanco-Sheet. The preparation of the accounts of the Company lias taken longer than was anticipated, and at the last minute it Ims beon found impossible to complete the work, and have it audited, in time for the meeting of Shareholders, As tho Directors ate , anxious to meet Members and place before them proposals for tho better ; working of the Union, it is deemed , advisable to adhere to the original date fixed for the Annual Meeting, j and after discussing oilier business, j a postponement can be made till tho . Balance-Sheet is ready, • Your Directors also regret that, a ■ loss was made last year on the Lon- , don .shipments, which fact is due . very largely to the exceptional col- j lapse of the Home Buttor Market. , The low price was due to causes not ( likely to occur again for somo time, | so your Directors hope the coming | season will enable tlieni to make up . any deficiency there may be on the | past year. In order to secure a profit ( during the coming season, your | Directors have effected several econo- \ uiics; and proposed changes will also | be repoited to you at the Annual | Meeting which will still further | reduce expenses and commissions, , Messrs,!, Nathan and Co. having,in ] response to the suggestion of the f Board, made several concessions to , the Union. I Your Directors desire to take this j opportunity ofstatingthatthe Union ] has been well served by their ageuts, , Messrs J. Nathan & Co., during the | past year, and that tlje reports cir- j culated to the contrary are as untrue ] as they are unfair. \ Mr James Young lias been t appointed Factory Manager, of the \ Union, and as he brings excellent testimonials from Australia, your Directors haveevery reason to believe that the engagement will secure efficient and economic management of the creiroeries and factories. Mr Young is now arranging for meetings of suppliers iiiKich district, and will explain to them the steps to be taken for the future working of the creameries. ■ Your directors will also go fully into all matters concerning the Union at the Annual Meeting, and for the convenience of those unable to attend at Wellington, meetings will be held at Palmerston and in the Wairanipn if desired. R Bai:xai;i> Biiowx, Chairman. * Wellington, liltli August, 1805.