TEE AGRICULTURAL JOURNAL. 



793 



The Natai Creamery , 



ANNUAL MEETING AT MOOI RIVER. 

 PROPOSED NP^W SCHEME. 



There was^ says the "Times of Natal/' a 

 \ery good attendance of shareholders in the 

 Matal Creamery present at the third annual 

 meeting-^ held at Mooi River on the 8th inst. 

 Among those present were: — Messrs. J. W. 

 Moor, C. B. Greene, C. B. Addison, W. McFie, 

 T. Hyslop, T. Russell, J. Bartholomew, B. Hut- 

 chinson, J. W. Johnson, H. Hodson, — Nourse, 

 A. Lawrence, J. M. Pickering, h/ Blaker h! 

 Ryie iShaw, G. R Richards Dr J. B. Brewitt 

 W. E. Gates J. H. K. Miller, E. 0. Challis, ¥. 

 SUnley, W. G. Lund, W. Teasdale, T.' B. 

 Griffin, James ^iddons, C. B. Lloyd, B. West- 

 all, and G. D. Alexander. 



In tlie report, the directors were pleased to 

 record, a large increase in the volume of busi- 

 ness done during the year. The total quantity 

 of milk purchased was 170,992 gallons, repre- 

 senting an increase over the previous year of 

 81,841 gallons. The quantity of butter pur- 

 chased was G2,1551bs., an increase of 39,0331bs. 

 These figures indicated that the reputation pre- 

 viously achieved by the quality of their pro- 

 due had been more than maintained. The 

 directors reported that the new plant which 

 should have been running was, owing to the 

 dilJlculties and delay of shipping and trans- 

 port, not yet completed. It was largely due 

 to this delay and consequent losses that the 

 directors refrained from recommending the 

 payment of a bonus to suppliers. The Durban 

 business of the companj' had been discon- 

 tinued, the agreement entered into with the 

 Model Dairy Company having been cancelled 

 by mutual consent after running about four 

 months. During December, the managing di- 

 rector retired, and Mr. E. Cautherlcy was ap- 

 pointed to the management of tlie company. 

 The directors again recommended the full divi- 

 dend of 7 per cent. Mention was also made 

 of the purchase of a piece of land in a central 

 part of Maritzburg, and this part of the re- 

 port . was considerably discussed during the 

 meeting. 



In proposing the adoption of the report, 

 the Chairman said he was pleased to see the 

 number of shareholders attending that meeting. 

 It was gratifying to those who were trying to 

 put the affairs of the company on a sound 

 footing. They had seen by the report the in- 

 crease in the Creamery's business during the 

 past year. It showed that more than double 

 the amount of milk had been handled than in 

 the previous year, and nearly treble the quan- 

 tity of butter. That, lie thought, sliowed the 

 \ ant of creameries in the Colonj'. The direc- 

 tors had hoped that long before this time the 

 new plant would have been in use. But as in 

 other new industries, there was always this 



difficulty of getting machinery. However, it 

 was here now, and the erection of it almost 

 hnished. He felt quite sure from what had 

 been said by those who had worked with simi- 

 lar plants, that it would give every satisfac- 

 tion. They could understand that not having 

 large plant had hampered them in their busi- 

 ness. They could have done more had they 

 had it. Yet he considered the business for 

 the year satisfactory. He thought that the 

 directors felt that they were working not so 

 much for a large profit as to be of use to a large 

 body of farmers in the Colony. (Hear hear.) 

 In working as they had been doing, they were, 

 he thought, keeping in touch with the feeling 

 of the shareholders, and that was for a large 

 turn-over rather than big profit's. Their lia- 

 bilities had increased, being something like 

 £7,000 more than last year. This had come 

 about by an increase of capital and the pur- 

 chase of a piece of land in Maritzburg for over 

 £2,000. The liabilities incurred were, hoAV- 

 ever, well worth the money as represented in 

 the balance sheet. Some of the money had 

 been put into machinery of the best type, and 

 the money paid for the Maritzburg property 

 had, he believed, been well spent. He had been 

 told that were the company so disposed, they 

 could now sell it at a profit. They would no- 

 tice that a good deal had been writteft off for 

 depreciation of plant and property. He be- 

 lieved that to be a sound policy. The directors 

 thought it right to write off a good sum so 

 that in case the company at any time wanted 

 to sell their property they knew where they 

 stood. The profit, after allowing for depre- 

 ciation, had been for the twelve months about 

 £900, and though it was not quite so large 

 as last year, it wa,s still satisfactory, and the 

 directors considered it quite safe to declare 

 the full dividend of 7 per cent. (Hear, hear.) 

 They would, with the consent of the share- 

 holders, place 10 per cent, of the profit, about 

 £90, to the reserve fund, thus making it £170. 

 He hoped in the future he would find it easier 

 to get money. They wanted the public to feel 

 they were putting their money into a safe 

 venture, and he hoped that small investors 

 would come in. 



Mr. Moor then just touched a subject which 

 it was evident the meeting wanted to hear 

 something about. This was concerning the 

 Maritzburg property. It was the wish of the 

 directors, he said, to do something with that 

 property. They thought of putting a build- 

 ing upon it. They had drawn up a rough 

 scheme, but they thought it better to leave 

 any details of it until after that meeting, as 

 tliey did not think it right to tie the hands 



