DAIRY COMPANY MATTERS.

Dominion, Volume 5, Issue 1529, 27 August 1912, Page 8

DAIRY COMPANY MATTERS.

ANNUAL MEETINGS AND REPORTS. A general meeting of shareholders of tho Awahuri Co-oporativo Dairy Factory Company was held in the Awahuri Hall, says our Feilding correspondent. The balance-sheet and directors' report showed splendid results for the year's working-. After paying the suppliers is. Id. per lb. for butter-fat, and 6 por cent, on invested capital, and £186 7s. Cd. for depreciation, there remained • £29 4s. Id. to be carried, to reserve The chairman (Mi Hansen) said the various prizes the company had won at shows with their butter was to be largely attributed to the installation during the year of a pasteurising plant. As 'to the future, an optimistic view was taken as to the price for the present season. There was no doubt that the manufacture of cheese was a great competitor, and there was no reason why Awahuri should not manufacture, it, as the company was ill a position to orect.a cheese factory if it is deemed for the best. The cost of running a combined butter and cheese factory under one roof would be the moans of paying out the very best prices. In answer to a question the chairman stated the cost of manufacture was only 3Jd. per lb. The ..balance-sheet w.as .. adopted, and authorisation for the payment of 6 per cent..on paid-up capital was carried. CHELTENHAM CO.'S REPORT. According to the annual report of the Cheltenham Cooperative Dairy Company the profii-and-loss account shows'a credit balance of £769. 15s. 5d., but in view of the fact that a portion of the capital invested will be lost in tbe selling of creamery plant, it has been decided to write this amount off for depreciation. During the year, Mr. Murray, who. was manager for. eight years,- resigned his . position, and Mr. J. Young has been appointed in his. stead. •' The average price paid ■to suppliers during, season 1911-1912 was 10.5 d. During the year 7,007,5501b: of milk were reoeived, and 258,7151b. of cream.' The average monthly milk tost was -3.675, and the average monthly cream test 351618. The total butter manufactured was 413,0831b., an-increase of 33,6691b. over last year. Prospects for the coming season seem encouraging, and it' is hepea that under the home-separation scheme, combined with careful management ana unity amongst the suppliers, tho company will be able to pay. a much higher rate for butter-fat -than bas been paid hitherto. The following Special resolution will be proposed by Mr. C. G. C. Dermer: That the capital of the company be reduced from .£IO,OOO divided into 5000 shares of £2 each, to £5000 divided into 5000 shares of .£1 each; ".that "suoh reduction be effected by cancelling all' forfeited shares on which the sum of .£296 16s. has been paid, and by waiting down the capital paid on 2588 shares issued and now current to'the extent of 30s. per share, and. ■by .reducing the nominal value of all shares in the company from £2 to £1 each. ,y a .■;.■;' OTARAIA COMPANY. Tho- Otaraia annual repart 6ays:—The supply of milk received during the season amounted to 2,725,6991b., an increase of 727,6631b., the average test being 3.77, a slight increase on last year. ■ Cheese made 253,3401b., an increase of 36J ' tons. It took 28.54 pounds of milk for one "pound of butter-fat, one pound of butterfat making 2.761b. of cheese, or 9.621b. of milk. to. lib. of'cheese. Average grade, 80.74. Average price for coloured oheese, ,7!ls. acl; white. 70s. 2d.; or slightly over Gid. f.o.b. Wellington.. The -profit and loss account shows a profit of £1459 12s. 3d. on the year's workings, to which is added the sum- of £5 lis. 3d. brought forward from last year,' wbich gives a total of' JE1496 3s. 6d. for distribution. It is proposed to pay out a sum equal to 16d. for the whole season, which will amount to £1350; to'place the sum of .£IOO to the reserve 1 account; and to carry a balance forward. - ! ;< . ;"\ '." AWAHURI. , ; The-fifteenth annual report of the Awahuri Dairy Factory Company has conio to hand." Tho. directors say:— • "We are glad to be able to report what we think-must be regarded commercially as a very successful year. Notwithstanding theicxceptionally wet summer which did not .conduce to the very best milking results, this fact has been more than compensated for by the excellent market conditions, which, together- with the best efforts of all- concerned in tha management, has enabled' the company to pay ,tho excellent average prico of Is. Id. per lb. for butter-fat throughout the season. During the year a cream -pasteuriser has been: added to .the company's "plant.-" In the balance-sheet the manufacturing and marketing account shows proceeds of butter sold £18,453 14s. 7d., and butter in '.stock .£519 Bs. 4d., and butter-milk sold brought in £20 65./ making a 1 total o£ '£19,023 Bs. lid. The butter-fat purchased during the year was £16,654 19s. 2d:, the .cost of boxes, parchment, and pat. papers,'salt,-firewood, etc., totalled £524 '6s. lld.i maintenance and wages £485 4s. 4d., transport costs and commission £319 2s. -2d.,. and the stock of butter on July, 1911,' was £133 11s. lOd. Tho gross profit was thus £606 4s. 6d.,-out of which secretary's salaries, directors' and auditor's fees,.,insurance, interest, exchange, printing, advertising, and sundry expenses, and depreciation' (£IS6 7s. 6d.) absorbed altogether £489 14s. 5d., leaving the net profit at,£UG' 103. -Id. THE REXDALE COHITOT. The third annual report of the Rexdale Co-operativo Dairy Company, Ltd., states that the milk delivered at the factory was '3,345,6691b.; it contained 125,417.261b. -buti tor-fat, and' produced 329,18G1b. (146 tons 19 cwt.) of cheese.. Tho average test was 3.74. ' Tho cheese' manufactured the previous season amounted to 94 tons 4 cwt. The quantity of milk required psr lb. of cheese .was. 10.161b., one lb. of butter-fat' produced 2-.G2lb. cheese and the cost of manufacture was .44d. per lb. on truck, After paying an advance to suppliers of £6271 os. 2d., tho profit and loss account -has a credit balanco of £1326 18s. sd. -This the directors recommend should be disposed of as follows:—£l24l 2s. Id. as a bonus of 2 3-Bd. per lb. of butter-fat supplied, £12 6s. as a dividend of 6 per cent on paid-up capital, and the balance £73 10s. 4d. to be written off tho properties and plant. The total payment for butter-fat for the season is thus 14 3-Bd. per lb. As the whole of the legal expenses incurred during the formation of the company and those incurred during the three years the company has been operating have been paid out of this year's profit and loss account, shareholders have canse for congratulation that the years working has been 60 successful. Had the output of cheese been sent Home on open consignment the' results would have been ! .undoubtedly better. Mr. E. Bodmin, who has been chairman Of directors since thu formation'of tho company, resigned at tho end of tbe season, he having Tcmovcd from tho district. Mr. Bodmin's removal is a distinct loss to tho company, and tho directors placed on record the company's appreciation of his past services and regret: at his removal. Mr. E. P. Greathead, who has been manager of the factory for the past three years, resigned his position to take up a more lucrative position elsewhere, and Mr. D. N. Cole, resigned his position as secretary early in tho year, he also having removed from tho district. The company secured the services of Mr. N. Olsen as manager, ho being selected out of 47 applications for that position. . There are prosperous times in store for Dairying folk this season. Factories will pay big dividends, especially those equipped with "Victor" Vats. About eighty of these splendid Vats aro going to Taranaki alone—a fact that speaks volumes for their value. Order your "Victors" now to get the full benefit of them throughout., the. .season.. Albert J. Parton, Carterton.—Advt. A WINNER OF COMPETITIONS. The Egg-laying competitions for 1910-11 and 1911-12 were both-won by pons reared on 'A. and T." Chick Rai.«r. Tho first essential for profitable poultry keeping. Obtainable from all Storekeocerß.—Advt,