GLEN OROUA DAIRY COMPANY

Dominion, Volume 4, Issue 968, 8 November 1910, Page 8

GLEN OROUA DAIRY COMPANY

: THE YEAR'S BUSINESS. The annual meeting, of. -tho Glen Oroua iCo-operative ,-Daiir.''Coninariy? , is to be held at noon to-daj-. i The annual report claims that the year's .financial'results .were,satisfactory. A:'largely-increased milk- supply was received. The figures for the year were:— 23,242,8821b. milk, 3.871 test, 891,42811). butter-fat, 1,032,6011b. -butter,-15.83 overrun, ■ 22,'50ib. milk • to ' lib: 'butfer. In the previous year tho figures wore:— 21,01G,7051b. milk, 3.821 test, 803,2051b. butter-fat, 924,7411b: butter, 15.13 overrun, 22.72 lb. milk to lib. butter. , .The average payment .was, 10,48 d., and. this-with'-tile proposed'bonus'makes a' total average of 10.98 d., or Jd- per more than last year. The directors purchased from Mr. Hopping the land adjoining the company's at a cost of .£240; the manager's house was built; and .£88!) spent in new. machinery. The manufacturing account shows a gross profit of .£5277.55.. lid., and tho .profit and loss account after deducting the general expenses and writing off .£641 16s. 3d. (10 per cent: depreciation on machinery, plant, tools, fittings, and office furniture), shows a net profit of .£2400 10s. Id. The directors recommend the payment of 6 per cent, dividend on the paid-up capital at August-31, 1909, which will absorb i£2SS 2s. 6d., and a bonus of Jd. per lb. on the season's butter-fat, which will absorb .£1857 2s. 10d., and the balance, ,£255 4s. 9d., to be carried to the reserve fnnd, making same ,£731 17s. 7d. The directors who.retire by. effluxion of time are Messrs. E, Boswell and J. M'Cutchan. Both offer themselves for re-election.