MANGATOKI BUTTER.

Dominion, Volume 2, Issue 595, 25 August 1909, Page 10

MANGATOKI BUTTER.

ITS PRAISES SOUNDED. A good deal was said at an annual meeting'of Mangatoki factory shareholders last week about tho quality of their butter—one of the twenty-one butters of .New Zealand (quoted in yesterday's Dominion) that are made from pasteurised cream. In-:moving the adoption of the report and balance-sheet, tho chairman (Sir. J. Marx) said, that there had been a record output. At the last annual meeting, however, ho was able to congratulate shareholders on having received tho highest price for butter-fat'ever paid out by the company. The past season •opened well, .but the firm which they had been dealing with, which had handled dairy produce formany years, suddenly collapsed. The directors"'.of the Mangatoki Company then had to make the best of the position, and they left no stone unturned' to safely place the output. Had the company referred to kept its feet, the position would probably have been _ two to three thousand pounds, better than it was. No foresight on tho part of tho directors could possibly have anticipated what had happened on that occasion. Proceeding, the chairman explained the circumstances in connection with the steamer account, £102 10s., in that tho 'dairy companies shipping through Patea had unanimously decided to advance tho money for a now steamer. It was to the advantage of the companies to do.that, the money was interest-hearing, and their company (Mangatoki), ran practically no risk. The 10s. a day for each director had never been exceeded.

Mr. Seed asked why Mnngatoki butter bad been sold in Eltliam some months ago at Id. a pound less than Eltliam butter. The chairman said jt was news to him that this had been . tho case. Mangatoki had always got the market price. Tho secretary (Mr. Watts) thought ElUiam butter at tho time referred to would be at more than the market rate, and the firm mentioned would probably be selling a lot of Mangatoki butter and very little -ERhain if then; ffas Id. difference. The chairman was satisfied that. Mangatoki had a 'higher- grade than Eltham. Mr.. Seed said tho difference in price might lead thc_ public to think that Mangatoki was inferior butter. Mr. Astbury explained that tho enso nien« tioned might be due to the fluctuation* of.

tlio market. When Uio Hlon'kr<'por Kot bin supply nr .KlUmiii butter the pnco mit',ht Imvo boon higher. . . Tlio chairman had novor hoard Unit iMtliain buttor was considered boiler than MaligntoUi. It would bo news to him I*o war no, Mniignloki's grading iivoniße fur tho .year wns 02.C8 for tlio year's' shipou'liU, nlld tlioy hud not ono Ixix of bpcmhl grndo for I,lm wliolo year, 'I'liu company Imd fakon ifst prizo at .tlio Dttticdin show, mid wn« third when competing iikimiisL the wliolo Dominion nt J'dmorsloii North. Mr. Clnddio ' Imd assured bim Unit Manptoki butter opened up well nt Homo, lie instanced ono r,:ili; of 5(10 boxes during the season to « Homo inn at 3d. more than tlio highest pnco riilnii', in Nun- Zealand nt Unit lime. 'JlilHWiis duo to tlio now svslcm of pasteurising. Hits season, it would be seen by the 'iiowHnnpom, traders wero rather pessimistic, but t in men who woro coming to buy wero not likely lo mnko out that things wero good. Iho outlook seemed to bo very fair for both butter and cheese. Last year tlio butter ninrkot was demoralised to a certain extent. Ono big firm-going .under had an- effect upon it. Bnvers woro anxious to meet tlio directors now. but it was not likely that anything would bo dono yet. It wns decided to pay n fivo per, cent, dividend.