HANGITAIKI'S YEAR

Bay of Plenty Beacon, Volume 1, Issue 57, 1 September 1939, Page 5

HANGITAIKI'S YEAR

CASH PAY-OUT 1X195d NOTICE OF MOTION WITHDRAWN «, . t - About 150 suppliers to the Rangi"taiki Plains Dairy Company Ltd. hi -gathered yesterday in the Green Parrot Hall, Edgecumbe,. for the an-' : nual meeting of the company when the report and balance sheet was prfsented. A feature of the day's business teas the discussion on a notice of motion proposed by Mr I. M. Withv, 'dealing with ineligibility for immediate re-election of retiring direc- . tors, the object being to put fresh men on, the directorate, the mover believing that this would be beneficial company and woukl er. training of men for administration of the company's affairs. An amendment was lost by "0 votes to 64, and the motion was then withrdrawn. In the chair was Mr W. A. Mc'Cracken, chairman of directors. He rgave a very full explanation of t"ne : report and balance sheet. The out. put, he said, had been 4058 tons 10 cwt of compared with 4531 tons IScwt in the previous season, the decrease of 773 tons or 16 per •cent being due almost entirely to the unfavourable season,. Of the 18,904,4641bs of cream received'72.l7 per cent was graded superfine, 27.i:.l per cent first grade, and .62 per ctmt second grade, the butter gradings l>eing 75.81 per cent 24.07 first grade, and .12 per cent second grade. The over-run was 21.995 per cent, and the average grade 93.19. The pay-out would total 16.193 d ~per lb butterfat at the farm gate, --cartage, laboratory and veterinary -costs, and dividend accounting for a further .361 d. The dividend was recommended to be four per cent, absorbing £1982 3s, 2d. Total charges to F. 0.8. amounted to 1.940 d as compared with 1.764 d last year the turnover in the manufacturing and marketing apcount amourfting to £566 725 5s 9d. The net return for the season from the. pig farm was £1408 7s 6d, •equivalent to about 7s a ton of butter. The lower return was partly due 'to the very reduced supply of buttermilk. The factory store showed a further increase in turnover from £66,749 7s 5d to £75,715 6s 7d. , Traversing the report he said that "in the last day or so cteam had started to come in well. In August 1937. *38 308 tons of butter had been made in 1938-39 274, and this August 228 tons. This was a substantial reduction, but in the last two days production had come up very fast. After traversing the sums spent on new buildings during the year Mr McCracken said that fire protection ' had engaged their and they now a properly constitut. ■Ed fire-tioard controlling a volunteer "brigade, which was equipped with an efficient pump. The brigade drilled every week, and its value had been ■shown by the speedy extinguishing •of a fire which started in the garage K).ne evening. Mr McCracken mentioned that the 1 «xtra benzine tax would cost the company about £442 a j'enr on the basis of 26,540 gallons used last year.