Windsor & Richmond Gazette, Saturday, February 24, 1900 - page 11 Hawkesbury Dairy and Butter Company, Ltd. The annual meeting of shareholders was held at the Factory on Wednesday afternoon. There were present :- Messrs. J. T. Gosper (in the chair), B. Conlon, S. Cox, C. Roberts, W. H. Hull, J. T. Fitzgerald, N. Hall, J. G. Percival, S. Gow, G. Marden, and the Secretary. Annual Report Mr. Berckelman read the following report and balance-sheet : - "In laying the annual report before you, your Directors regret not being able to show such a satisfactory result on the past year's operations as upon previous years, as, owing to the severity of the season, which has caused a considerable falling off in the quantity of milk, we have not been able to cope with the increased demand for butter. Still we feel that, having met all claims, and coming out with a credit balance of £39 9s 11d. good work has been done, and trust our efforts will meet with your approval. Out of the profits of the year your Directors recommend that £39 be granted towards machinery at Wilberforce Creamery, and the balance, 9s 11d. to preliminary expenses. The quantity of milk purchased during the year was 110,296 gallons (as against 145,312 gallons last year) at a total cost of £1,347 16s 11d. The amount of butter obtained was 41,185 lbs., which was disposed of at prices varying from! 9d to 11d lb. In conclusion, your Directors look forward to the future hopefully, and urge each shareholder to assist by using his best endeavours in increasing the number of milk suppliers, as considerably more milk could be treated with the same outlay." Balance Sheet. - Liabilities. To Capital - 2000 Shares at £1 .. .. .. £2000 0s 0d Reserve Fund .. .. .. .. .. .. .. .. £170 0s 0d Profit and Loss Account .. .. .. .. . £39 9s 11d .. .. .. .. .. .. .. .. .. .. .. .. .. £2209 9s 11d ASSETS By Land and Buildings .. .. .. .. .. £1174 0s 5d Plant and Machinery .. .. .. .. .. .. £982 14s 7d Cash in Bank .. .. .. £111 11s 3d Book Debts .. .. .. .£269 6s 10d .. .. .. .. .. .. .. .. £380 18s 1d Less Outstanding Cheques .. .. .. .. £380 3s 2d £52 14s 11d .. .. .. .. .. .. .. .. .. .. .. .. .. £2209 9s 11d PROFIT AND LOSS ACCOUNT To Milk purchased .. .. .. .. .. .. £1347 16s 11d Wages .. .. .. .. .. .. .. .. .. .. £173 18s 6d Freight .. .. .. .. .. .. .. .. .. .. £32 19s 6d Income Tax .. .. .. .. .. .. .. .. .. £3 14s 6d Municipal Rates .. .. .. .. .. .. .. .. £11 0s 1d Commission .. .. .. .. .. .. .. .. .. 17s 5d Coal and Oil .. .. .. .. .. .. .. .. .. £21 8s 1d Postages .. .. .. .. .. .. .. .. .. .. £2 13s 6d Insurance .. .. .. .. .. .. .. .. .. .. £7 11s 3d Printing .. .. .. .. .. .. .. .. .. .. .. £1 2s 6d Rent .. .. .. .. .. .. .. .. .. .. .. .. £3 0s 0d Sundries .. .. .. .. .. .. .. .. .. .. £22 19s 2d Balance - Profit .. .. .. .. .. .. .. £39 9s 11d .. .. .. .. .. .. .. .. .. .. .. .. £1668 11s 4d By Butter Sales .. .. .. .. .. .. .. £1331 9s 9d Skim Milk Sales .. .. .. .. .. .. .. £54 12s 3d Agistment .. .. .. .. .. .. .. .. .. £12 10s 0d Sundry Receipts .. .. .. .. .. .. .. 12s 6d Book Debts .. .. .. .. .. .. .. .. £269 6s 10d .. .. .. .. .. .. .. .. .. .. .. .. £1668 11s 4d RESERVE FUND To Balance .. .. .. .. .. .. .. .. .. £170 0s 0d Mr. Percival asked what had the Wilberforce Creamery cost up to date. The Secretary replied that the building cost £63 5s 9d. and the machinery £99 14s. At the last annual meeting £50 14s 2d was owing ; they now asked for £39, and about £10 would remain owing. Mr. Fitzgerald asked if it were possible to have a profit and loss account when they had outstanding accounts amounting to over £300. The Secretary explained that out of the outstanding accounts he had, since the end of January, received and banked over £150. Mr. Fitzgerald asked the amount of the bill for coal. The Secretary said about £17. Mr. Fitzgerald thought the sum exorbitant. Mr. Clarke (manager) explained that in the summer they worked seven days a week for long hours. He assured the meeting that all possible economy was practiced in the use of the coal. Mr. Berckelman informed the meeting that the coal cost 7s per ton at the pits, and 5s 4d freight. Mr. Fitzgerald asked some information concerning the item, sundries £22 19s 2d. in the balance-sheet. Mr. Berckelman laid on the table an itemized account. Mr. Fitzgerald took exception to several items, and Mr. Berckelman went into a full explanation. He thought Mr. Fitzgerald did not know much about the running of the factory. Mr. Fitzgerald said he knew more than the Secretary about running butter factories, as he had had experience on the South Coast. The shareholders owned the concern, and they naturally expected a dividend. Mr. G. Marden as ked what was the supply at the Wilberforce Creamery, and whether the concern paid expenses. It was stated that the creamery was paying Mr. Fitzgerald wished to know the price paid to suppliers for the past year. The Secretary said he was not in a position to give the information at that moment. It was elicited that the factory at present had 34 suppliers, and Wilberforce 10, and that the milk at Windsor had been very poor in butter fat during the past twelve months. At Wilberforce the test was higher. Mr. S. Gow said he could not understand why the test was higher at Wilberforce. Mr. J. T. Gosper said he was of opinion that a mistake was made by most dairymen in keeping the heifer calves from heavy milkers. They lost sight of the fact that the cow which gave the greatest quantity of milk did not always give the most butter fat. Mr. Gow compared the tests of his milk at the local factory and in Sydney ; the latter invariably tested over 4, and the local milk just 3.Mr. Fitzgerald said that there was something wanting somewhere regarding the amount of butter fat obtained from their supply of milk. Mr. Berckelman said he thought they could rest assured that the fault lay in the poverty of the milk. Mr. Clarke said he would be glad to show the books to any of the shareholders. He asserted that every penny was accounted for, and that he was as careful as it was possible to be. If there was any dissatisfaction with the manner in which he did his work he was willing to resign in favour someone else. The report and balance-sheet were then adopted on the motion of Messrs. Fitzgerald and Gow. Election of Directors. Mr. Fitzgerald asked if any alteration had been made in the articles of the company, and being answered in the negative, maintained that all their elections of directors since the second annual meeting had been illegal. Four directors should retire every year, and they had only been retiring three. After some discussion it was resolved that four directors should retire, each of whom would be eligible for re-election. Lots were drawn to decide who should retire with Messrs. B. Hall, N. Hall, and C. Roberts, when Mr. A Tuckerman was drawn. The four retiring directors were unanimously re-elected, on the motion of Messrs. Fitzgerald and Marden. Mr. C. Roberts proposed, and Mr. Conlon seconded, "That Messrs. J. J. Paine and J. Dickson be elected auditors." Mr. Fitzgerald took exception, and thought the auditors should be shareholders. The Secretary informed the meeting that Messrs. Paine and Dickson were both large shareholders. The gentlemen nominated were then unanimously elected. Mr. G. Marden proposed a hearty vote of thanks to the Directors who had laboured so well during the past year. Mr. Hull seconded the vote. Mr. Fitzgerald supported it. The duties of the directors had been arduous, especially as they had been trying to make a concern pay that won't pay. Mr. J. T. Gosper responded on behalf of the shareholders. They had given a lot of time to the company, and always did their best for it. The vote was carried by acclamation.