PATERANGI CHEESE AND DAIRY PRODUCE FACTORY. Annual Meeting of Shareholders.

Waikato Times, Volume XXV, Issue 2079, 3 November 1885, Page 2

PATER ANGI CHEESE AND DAIRY PRODUCE FACTORY. Annual Meeting of Shareholders.

Thi: annual meeting of the shareholders in this company was held at the old schoolhouso on Saturday. Mr Macky, chaitm.in of directors, occupied tho chair. Tho business of tho meeting was commenced by the chaiiman leading the advertisement in Tho Waikato Tunes, and the ••ccietary thon read the directois' repot t and balance-sheet as follow -5: —

IlllttCTOns 1 HTPOKT. Paterangi CheeseF.ictmy. Totheshaieholdeis. (ientlcmen,—Tho dnectois have giiMt pleasiue in piesenting this their second annual leport and balance sheet. They consider, taking all ciicuiiistances into account which operated against the factoi y, that it is \ cry satisfactory, althougli it shows a loss of £2!l 8s lid. Tho dnectors agteed with the milk supplieis to iiiiike cheese at l{d per gallon of 101 pounds in the hopo that a largor supply of milk would follow, but in this they weie disappointed, and Miereforo the loss of the company. Tho balance sheet will show the p.uticnl.us. Tho directors, considering the labour could be accomplished for less money, called foi tenders for a manager, and also for tho lease of the factoiy. For the former si\ tcndeis weie received, and for the latter two. After due consideration we decided that the leasing would be best for the company, and accoidingly accepted the tender of Mi W. G. McL.iurin for a term of fivo years at an annual rental of £70, ho agreeing to make cheeso for the suppliers at Id per gallon of lOlbs, and he keeping tho whey. If the quantity of milk increases to over 00,000 gallons per annum, an additional tl per thousand gallons so leceived to bo paid as rent. The dnectois will .ill now lesign, allowing an election of five directois and two auditors.

1)U. WCK-SHKKT. PuoKir AM) Loss A(toi;nt.— Dr. To intcn'it, £">l IN '((1 ; dun,'* 1 -!, postage., telegianis, fee, £7 2s 7d ; insurance, £13 (X (id ; laboui, £200 ; coal (including caitage and freight), fi.S Js ; rennet and colouung, £13 2^ lid ; salt, £fi ; cheese - cloth, til 12^ 3d : Hundnei, £Ul3s2d; total, f.'H"i, 10s !ld. Cr. by amount duo from milk supplier* for iii.muf.icturinir choose. £2")') Is Id ; ditto, biitti'r, £2 <U ; total earning, £2fil 10< Id; (unfit on huttei account, £24 IS-, Id ; ditto. pig-<, £2!) 13s 8d ; balance (loss), £2(1 Ns lid; total, £3-T> 10. !)d. Cu'iiu. Acroi xt.— l)i. to loss a* ppi profit and lons account, £2!) 8s lid ; balance, £7 ( l0 11s Id ; total, £.S2O. Cr. by btock subscribed, £820. AsshiH.— Ca-h m hand, £5 12s Od ; building, £331 14^ lid ; plant, fcIJ.XU Is 11(1 ; fencing, £17 Us lid ; debts fiom milk Mipplieis for making ellipse, £J(!1 10. Id ; sundry other debts, £JS ; unpaid calls, £■)() 7h fid ; total, £13MI ll>s Bd. LiwimTiKh.-- Stock . S2O share* called up £1 each, t'K2O ; Hank of New Zeal md oxerdraft, £,")13 (is 8d ; suudiy amounts due, Oi 10s ; fnt.il, £13h!) lfi> M. Mi J. H. Scott: Is not the profit made on the pigs lo.v as compared with the other factoiits? Oiif' mdmdiinl told me tint he had made, £30 on his pigs. The f.r-toiv hid inoio pigs and should have made moie money. The manager told mo that a tfivat dual of the whey was waited.— The Chan man : A great deal of the waste was owing to the fault of the tnan.igei. He wasted a gicat deal. We could not be always on the spot. He was told of it. — Mr J. H. Scott : It was the dneetois' duty to see that the waste did not occur. Other factories made more out of their pigs. — Mr (I. Finch thought the dnectors held the pig* too long to sell as porkers, and had they held them a little longer and sold them as bacon they would ha\e made more money out of them. Ho the waste of whey, and as one of the directors spoke to the manager, but he could not be always in attendance to see that the minagcr fed the pigs properly. He (the mauagei) was paid £200 a year, and for that snlaiy he should have been able to attend to the management propeilv, and see that no waste occuired nnjwhere. — Mr J. H. Scott: The manager said then* was double the quantity of uhry leqnired. He asked {or a htove and a tank, but could not get them. — Mi A. Scott : He did not tell the directors that. — The Ch.tiini.in : l)»# not bung and vague charge against the diiectors. Stato plainly what >ou objected to. You --houlci have come tn the dnectors w ith complaints, ,md not to the manager. You say he asked for a stove and could not get it. He did no| isk for it till late in the season, and then he consideied he could linish the season without it. The Mine applies to the tnnk which ymi say lie asked you foi. —Mi (1 Finch : With legard to the tank, I asked the mau.igei if the water was holding out in the well, and he said it was all right, and there was no need to go to any more expense foi tliat s"nson. — .Sir J. H. Scott The manager said ho could not get the cheese piess repaired.— The Ch.iuni.iir You aie alluding to what occuned last year ; this niattei was discussed at the last annual meeting. --The Chan man then moved that the leport and balance sheet ,\n io.nl be adopted. On the whole he thought th.it it was not unsatisfactoiy. He quite agreed with Mr J. H. Soott that more money might have been made out of the pigs, but it would have been so little aftei paying the costs of e\tia labour that it would not nave been woith the tiouble, — Mi 0. Alexander seconded the inutioc, which was earned. The next business was the election of dircctoii. The whole of tlie duectois now letiied. Mi (>ei man declined to stand and Mr rs'ewlaud, by letter resigned, stating that it was impossible for him to servo a* a duectoi as h« lived near Auckland, Thieejof the retiring dnectois, namely Messrs Maekey, A. Scott, and (i. Finch weie re elected, and Messts Meiedith'.md H, T. Mill. it wero elocted in place of Mossik Ueiminn and Newland. Me-s)n Kyburn and W. J. Hunter weie appointed auditoix. Mi Kybinn asked if the len»oe g.ivo any gnaiantee for canying out his couti.tct, audit he could give Uup at any time?— The Oh, in in, m said that theic was no guarantee. As logaids giving up the lease, it was agieed that if the supply went below a ceitaiu amount at any time, either paityceuld give it up, The lease was foi five yeari — Mr J, H. Scott wanted to know the djtfcionoo betwoen the two tenders for leasing.— The Socretaiy lotd the tenders, showing a difference gie itly in fvvour of Mi McLauiin'h tendei. The late mauagei, Mr Mcado, was the other tendeier foi leaning tho factory. His tender was lovvei than Mr McLaurln's, and if the supply increased, the ditFeience was still more in favour of Mr McLaniin's tendei. The second Wednesday in next October was fixed n% tho date for the next annual meeting. Mi K. Kay rmned a vote of thanks to the late duector.s, Considering tho abuse that had been lic.ipcd upon them and the stones whioh had been oiroulatod about them, they coitauily deserved the thanks of tke shaieholdei-. -The supply for the season was 47,!W gallons, for which £G2l had been p.ud, which was equal to 3/jd per gallon, Thoie was a little more money to be divided, wliioh will briny tho price up to neaily3|d. It was but light to add that Mr (Jeimann did tho work of secietary for two years gratuitously. This brought the meeting of the shaieholdeis to a close.

V meeting of suppliers was then held. Mr Macky was v oted to the chair. At a former meeting it wan thought advisable that two duectorK and two suppliers Mmuld be appointed as a oominitttie to t.iku thu management of tho sale of the cheese. Mosms <ie lmaim nnd C. Alexander were appointed on b'h.ilf of the mikjlici-*, tho duoctois to ele^t two of then number. Mi (ionn.inn propo.ud that the dnectoix be einpoweied 111 1 mako miaiigemeuts with the Bank ot New Zealand at Te Awamuta to di tw i n Hie Ist J tiiii.ti v, Ist M noli and Ist May stilhttent money to piy 3d per gillpn f<u the milk if any of the siipplieis vi islied to diaw tli <t amount, and that all the suppliers who (lid diaw Join in u bond to gn i- seem ity to the bank- Seconded by Mi A. Scott and canied. This concluded tio business.

Ciiicu.o up.ji ts tho names of 13 boys diad of lockjivv bine: .hily i, fiuui wound-) by toy-pistols on that diy. Filings hundred telephone instruments iv Buffalo me supplied from electricity made by the water power of Niayma Fill lei. Is one district in Italy during a recent teinfic 'trn, thirteen poisons were killed by lightning, and 22 othcis injured. Mr John Knox will sell at the H.imil'on Auction M.irt, on Sntnr(].i), prudiur, poultry, &c. .Mr J .S. I.ik U.imi will mII at le Awamutu. on MonJ.i), (lie llitli, the w liole of the livu ,md il '.id stoi k of Mr (jpo. Flojil, who is leavine tbo d itrict. On tlic 2.') th Novomber, he will sell at leAvvanuu 2 0 .icres first-class land, adjointqg the le Awumutu township.