Amalgamation
1941
The 10th day of July, 1941, is
a red letter day in the history of the Company. an agreement was entered into
with the Waipu Co-operative Dairy Coy. which may be termed either amalgamation,
or merger, or union, being actually a combination of all three.
The circumstances leading up to
this happy result, advantageous to all concerned, are fully set out in the Waipu
Record of this publication. The terms of the agreement included: -
- The Waipu Company would
cease independent operation
- Waipu supply from the South
of Deviation Hill would come to Maungaturoto.
- Waipu would be given a cream
collection service as good as existing at July, 1941
- Waipu Shareholders would
become supplying shareholders on the same basis as other new suppliers.
- The Maungaturoto Company
would increase its Directorate by two members, to be nominated by Waipu and
not to be opposed for two years.
- Compensation would be paid
to Waipu 510 tons of output at the rate of £5/5/- per ton.
Thus in one day, the Company
graduated into the Big Company class with an addition to its output of 30%,
approximately 442 tons - an enlargement calculated to effect economies in
overhead and manufacturing costs, leading to a new high level in nett payout to
its old and new members in the much enlarged area of supply.
We are informed that the
negotiations which led to this happy result were carried out with great goodwill
on both sides. Doubtless the cordial relations which have always existed
between peoples of both settlements, contributed to the equitable agreement
arrived at.
The following comment is
written by a leading man of the Waipu supply district:
"It is my considered opinion,
after eleven years, that the Amalgamation as planned and as carried out, has
been a benefit to all concerned. I would strongly oppose the suggestion of
a breakaway in the future if one was ever mooted."
The succeeding eleven years are
shown by statistics to be years of steady growth; membership numbers have not
increased largely, but the output of butter has grown in a spectacular way, in
the Jubilee year, reaching 2,686 tons.
It is evident that the
increased volume of late years it due to larger contributions from individual
suppliers and an advance towards intensive farming.
1947
In 1947, a Veterinary Service
covering Maungaturoto and Waipu was inaugurated.
1948
In 1948, the Company began the
manufacture of Buttermilk powder and this extension has been successful in spite
of the major cost of £22,000. These were deemed necessary to cope
with the present high peak supply.
Following is a comparison of
the first full year of operation and the record of the Jubilee year:
Season |
Suppliers |
Staff |
Wages |
Tonnage |
Payout |
Fixed Assets |
|
|
|
1903 - 04 |
40 |
3 |
£294 |
30 |
8d. |
£2,000
(Approx) |
|
|
|
1951 - 52 |
424 |
32 |
£8,266 |
2,686 |
34.3241 |
£88,869 |
|
|
|
(The first
season is not shown as it was only of four months.)
The Jubilee Year
is a notable milestone; it marks the culmination of fifty years of hard work,
sound judgement, courage and enterprise - years of good team work of Directors,
suppliers and staff.
We have
endeavoured to set out the great contribution made by the early promoters, who
from 1901, piloted the Company through years of difficulty and discouragement.
We have featured some of these early personalities and regret being unable to
put on record the many others who were not in office, but whose staunch support
was the first essential for success.
This then, is the
story of the Maungaturoto Co-operative Dairy Company, an industrial romance, an
example and inspiration for the years to come.