PAST DAIRY SEASON

Bay of Plenty Beacon, Volume 10, Issue 17, 28 August 1946, Page 5

PAST DAIRY SEASON

RANGITAIKI PLAINS COMPANY TOTAL PAYOUT EXCEEDS 1/8 The thirty-first annual meeting of suppliers to the Rangitaiki Plains Dairy Company takes place at Edgecumbe today in Bell’s Hall. The annual report to be presented by the Chairman, Mr W. A. McCracken reads as under; —

Output: 4266 tons 14cwt. 2qrs. 15 lbs. of Creamery Butter were manufactured during the past season compared with 4791 tons 12cwt. 0 qrs. 141bs. for the previous year. The decrease of 524 tons 17cwt. lqr. 271bs. was mainly brought about by the serious drought conditions which prevailed during the season. Quality of Cream: 19,855,577.51b5. of cream were received and were graded as follows: Superfine 75.40 per cent., First Grade 24.41 per cent., and Second Grade .19 per cent. Buildings and Plant: No substantial additions have been made during the year. Buildings and plant have been carefully maintained and depreciation has been written off on a proper basis. Pig Farm: The nett return for the season is £589 6s lid, representing approximately 2/9 per ton of butter. Factory Store: The turnover for the year was £97,645 7s. Rebates, at a rate of 5 per cent, on all purchases, . were paid to suppliers and amounted to £4367 13s lid.

Payout Season 1944/45: The actual payment to Shareholders for the previous season, excluding Farm Cost Allowances, was 16.855 d. Farm Cost Allowance: The Farm Cost Allowance was increased from 2.887 d to 3.904 d per lb. butterfat, as from Ist August, 1945. The Farm Cost Allowance was included in advance payments made during the season. The number of pounds of butterfat on which the Farm Cost Allowance was claimed was 7,829,588.

Payout Current Season; During this season an average advance of 13.969 d per lb. butterfat was made over all grades. A further Id per lb. of butterfat over all grades was paid for the 12 months ending 30th June 1946. The balance in Appropriation Account will allow a further payment of 1.817 d per lb. This when added to the advance payments already made, will bring the season’s average payout up to 16.786 d. With store rebate aded the payout is 16.920 d per lb. butterfat. The Farm Cost Allowance of 2.887 d per lb. butterfat for July and 3.904 d for August to June inclusive (averaging 3.889 d) increases the total average payment to 2/.809d per lb. butterfat.

Valuation of Butter Stocks: Export stocks on hand, as at 30th June, 1946, have been valued at Government Guaranteed Prices less Dairy Board Levy and Insurance to F. 0.8. Stocks of local butter have been valued at local market rates less relevant differentials. ; .

Butter Grading Results: The average grade for the season was 93.420 as against 93.263 for the previous year.

Auditor: Mr Miles Hamill, A.P.A. (N.Z.) is not seeking re-election. Mr Hamill was appointed Auditor to the Company on the 10th August, 1922, and has had a long and unbroken association of 24 years. He has audited the Company’s books during the period that the factory output increased from 352 to 5100 tons, of creamery butter annually and has seen the initiation and rapid growth of the subsidiary departments which are today playing such an important part in the Company’s activities. Shareholders will, we know, join with directors and staff in paying a sincere tribute to Mr Hamill’s long period of service, his interest and co-operation, and his outstanding courtesy. Directorate: Messrs. D? S. Radcliflfe and S. C. Spence were reelected at the 1945 election without opposition. This year, Messrs. W. R. Boon and Jas. Jamieson, the retiring directors, were re-elected to the Board, no other nominations being received. Mr H. B. White was appointed Native Director to fill the vacancy brought about by the. loss of the late Mr J. Riini.