FARMERS MEET

Bay of Plenty Beacon, Volume 4, Issue 146, 25 August 1941, Page 5

FARMERS MEET

THE DAIRYING INDUSTRY

ANNUAL MEETING OF OPOURIAO SHAREHOLDERS t

The annual general meeting of shareholders of the Opouriao Dairy Company took place at Taneatua on Wednesday last, the attendance not being as large as anticipated.

Directors'" Report.

The forty-first annual report was presented as follows: —

In respect of the year ended. 30th June, 1940, the estimated seasonaverage payout per pound of butterfat (all grades) which was quoted In the Annual Report for that year was 18.22 pence per 11) to suppliers of milk and 16.29 pence per lb to suppliers of cream. The actual sea-son-average payout which was finally made was 18.22 pence per lb and 16.29 pence per lb to suppliers! of milk and cream respectively.

In rcspcct of the year just closed, the stocks of dairy produce for export unsold at balance date havy been valued at the present guaranteed price less estimated charges and the stocks for local consumption have been valued at the uresent wholesale market price less due allowance for charges.

The amount available for distr 1bulion on this basis will provide for a further payment of 3.50 pence per •b over the whole season for suppliers of milk and 2i.5 pence per lb For suppliers of cream, making the season-average payout over all grades 18.46 pence per lb to suppliers of milk and 16.05 pence per lb to suppliers of cream.

It is recommended that no dividend be paid on the Share Capital of the Company.,

Balance Sheet

Liabilities: Nominal capital—3s,ooo shares of £1 each £35,000; Less unallotted £4284; Less uncalled £4976 18s sd; Paid up capital £25739 Is 7d; Forfeited shares reserve £53; General reserve £400; Sundry creditors £2201 2s 7d; Amount due to suppliers for June £1230 4s Sd; Appropriation account £17,179 15s Bd.

Assets: Freehold land at cost £709

Us 8d; Opouriao buildings at cost less depreciation previously written off £9375; Ruatoki buildings on same basis £6185; Opouriao plant on same basis £3858 Is 7d; Ruatoki plant on same basis £2303 ss; Office furniture on same basis £35; Shares in other companies at cost £866 10s. Total £23,332 8s 3d. Floating Assets: Sundry debtors £2707 16s 8d; Stocks on hand £11,715 10s 4d; Union Bank of Australia, Ltd. £9047 9s 3d. Total £23,470 16s 3d. Grand total £46,803 Is 6d.