DAIRY COMPANY'S YEAR

Bay of Plenty Beacon, Volume 5, Issue 99, 2 September 1942, Page 5

DAIRY COMPANY'S YEAR

OPOURIAO SUPPLIERS MEET

BONUS PAYMENT

Mr W. L. Richardson preside.l at the annual meeting of the Opouriao Dairy Company's suppliers at Taneatua, when the progress of the com-

pany was reviewed over the pas year. The attendance was fair.

In his annual report the chairman said that in respect of the year ended 30th June 1941, the estimated

j season average payout per pound of butterfat. (all grades) was quoted in the Annual Report for that year was 18.-M> pence per lb to suppliers of milk and 16.05 pence per lb to suppliers of cream. The actual season average payout which was finally made was 18.-16 pence per lb and 16.05 pence per II) to suppliers of milk and cream respectively.

In respect of the year just closed, the stocks of dairy produce for export unsold at balance date had. been valued at the present guaranteed price less estimated charges and the stocks for local consumption have been valued at the present wholesale market price less due allowance for charges. The amount available for distribution on this basis would therefore provide for a further payment of 3.30 pence per lb over the whole season for suppliers of milk and 2.30 pence per lb for suppliers of cream, making the season average over all grades 18.28 pence per lb to suppliers of milk and 16.29 pence per lb to suppliers of cream.

It was recommended that no dividend he paid on the share capital of the company.

The following directors who retired by rotation were re-elected: Messrs A. K. Prince,-J. S. Rae, and G. R. Yeoman.

Messrs Pridcaux and Brklger wove rc-appointed auditors.