DAIRY COMPANY REPORTS.

Dominion, Volume 5, Issue 1522, 19 August 1912, Page 10

DAIRY COMPANY REPORTS.

LAST SEASON'S TRANSACTIONS. Reports of various dairying concerns to hand make interesting reading. The latest reports received are as under:— THE I'ARKVALE COMPANY. • Tho twelfth report of the Parkvale 'Company states that tho factory was opened on August 28, 1911, and closed on June 1, 1912, during which time 5,418,820 lbs. of milk wero received. The yield of butter-fat was 202,360.571b., from which 550,7721b., or 24G tons, of cheese wero made. Each [round of butter-fat yielded 2.721b. of cheese, and each pound of cheesa required 9.821b. of milk. The tests ranged from 3.0 to 6.5, the average being 3.73. After sotting aside tho sum of ,£6l) 10s., as a dividend at G per cent, cn tho subscribed capital, and writing .£llß os. lOd. off for tho depreciation of plant and buildings, there remains a balance of -E1770 13s. Id. due to suppliers, making tho actual price paid per pound of butterfat Is. -Id. and 1-lOth of a penny, equal to G.3ld. per gallon of lOilb. of milk.

THE DALEFIELD COMPANY. The Daleficld Coinpany/s twelfth annual report says that, during the season, 11,181,7241b5. of milk were received, yielding 434,791.131b. of butter-fat, from which 1,147,5GG1b., or 512 tons, of cheese were inadey heing an increase of 40 tons on last year's output. The .highest test during the season was G.O, and the lowest 3.1, the average being 3.888. , . . . The .quantity of milk required to make one pound of cheese was 9.741b., and each pound of butter-fat made 2.641b. of cheese. After paying an advance amounting to .£25,362 18s. 9d., writing off .£79 Bs. 2d. for depreciation of plant and buildings, and reserving .£6l lGs. for 6 per cent, dividend on subscribed capital, there remains a balance of .£3283 lis. lOd. due to suppliers, making an actual cash payment of Is. 3d. and 13-lGths of a penny per lb. of butterfat, equal to G.45d. per gallon of milk of 10-i-lb. •

, THE LONGBUSH COMPANY. The directojs of the Longbnsh Company state that the factory opened on' September G, 1911, and closed on June 2, 1912, .during which, period. 819,8391b5. of milk were received. The yield of butter-fat •was 29,767.071b., 'from which 81,4481b5. .cheese were made. Each pound of butterfat yielded 2.731b. cheese, and each pound ■cheese required 10.061b. milk. The tests ranged from 3.1 to 5.4, the average being 3.03. Monthly advances on butter-fat amount to .£1,361 6s.' Gd.,' leaving a balanco of .£537 18s. 2d., out of which the directors recommend a further payment of 2Jd. per pound butter-fat, making the payment ,13Jd. for. the season, equal to' 5.14t1. per gallon of milk of 1011b., and writing.the balance of .£227 lGs. sd. (equal to. 1.83.(1.'.per pound butter-fat) off property account. THE CAKBINGTON COMPANY. Tho chairman of tho Carrington Com'paiiy, Mr. M. M'Lennan, in his annual Tcport, says the second year's operations of the .company have been highly satisfactory: '.The factory was opened on August-28, 1911, and closed on June 1, 1912, during which rime 1,919,1641b5. of milk were received, yielding 75,946.31b. butter-fat, from, which 198,2191b., or 88 toiis, of cheese were made. The average : test for the year was 3.89. The quantity of milk required to make one pound of cheese was 9.83, and each pound of butterfafc.made- 2.G111). of cheese. Monthly payments on milk, at the rate of Is. per lb. ■butter-fat amounted to JC3797 Gs. 6d. A balance, ,£lOll 12s. 10d., is now available, out of which the directors propose to pay an additional 3d. per lb. of butter-fat, making the'total'payment Is. 3d. per lb. of butter-fat, or G.13d.-per gallon of milk of 1011b., andji\Titing_tno. balance.'.bf 6s.'Jd.' off "property account. '. THE iIANGATOKI COMPANY. : A successful year's work is reported by the Mangatoki Company. Phenomenal prices were obtained for the .company gutter in tho home market for about two•thirds of tho shipments, but a serious falling off took place owing to the two successive strikes at Home affecting the later ■shipments.' The average, however, easily establishes a ■ record in butter ' prices. The directors fortunately refused the high, .prices offered-by buying Home firms, and this f has-meant an appreciable gain to supplying .shareholders, as against the average realised by selling factories. ''■After '-writing >off £126 lis. sd. for depreciation, there remains ,£1271 13s. 4d..t0 be dealt with. The directors recommendthat a dividend at the rate of 5 per cent. • per annum be paid on. all paid-up share capital,'absorbing <£383, leaving 13s. 4d. as a final payment pro rata on all .butte'rrfat supplied by shareholders. The : amount already paid plus available balances.gives the record result of 12.55 d. for ■all butter-fat received. The amount of milk received was 25,281,8911b., iyiclding 953,8621b. of butter-fat, producing 1,101,0931b. of commercial butter. The average test being 3.772, and the over-run 15.5. ' The number of lbs. of milk required to make lib. of butter 22.94. ; '"..The directors arc giving effect to the resolution of shareholders enabling the company to manufacture both butter and cheese, and cbeew factories are now in course of erection at Mangatoki', Matapu, and Manoo, and provided no unforeseen difficulties arise the'directors hope to commence Mie manufacturing-of cheese.at.all three factories by the end of September. 'To meet the extraordinary expenditure of -building' and equipping the cheese factories, the basis of allotment of shares has been altered from "a one share to each 1501b. ; of butter-fat supplied per annum basis, to that of one share for each 801b. of butter-fat supplied per annum basis"; the farthing per lb. share deduction remaining as heretofore. The.payment for tho cheese factories and plant will thus fall as lightly as possible on shareholders. It will be necessary for shareholders to take up the extra number of snares in accordance with the altered basis of allotment. The time appears to have 'come when serious consideration will have to be given as to the continuance or otherwise of payment of interest to non-supplying shareholders. Market'prospects for the coming season are particularly good for both butter and cheese. ; There being every indication that cheese will again give the better returns. . . The directors report satisfactory business during the past year in the handling and marketing of shareholders' pigs by the Eltham and Mangatoki dairy companies. Steps are now being taken to widen the field of operations and make the business more workable and.stronger by the inclusion'of neighbouring dairy companies.