RONGOTEA DAIRY CO.

Dominion, Volume 9, Issue 2859, 25 August 1916, Page 8

RONGOTEA DAIRY CO.

;;• . ~-' A GOOD .YEAR; ':,: The twenty-second annual report of ~., the Kongotea Co-operative. Dairy Com* tpany, Ltd., states:— ■•■■'•■' "Tho result of the year's working dis■"closes that tlio past season has beon 'a highly successful one. In common 'V'Witli other companies, wo have been faced with greatly increased cost of 'A production, the prices of some re- ;■';: quisitcs having- increased from ten to .;,as much as fifty per cent.; while the ...charges for freight, marine and war ■ risk insurance, etc., have reached a - ,; Rrenoiuenal level. In suite of tlie6o fac. ""tors, the high prices we have secured for our consignments have enabled, us to meet these charges, and to present ; 'for your confirmation one of tho most i'; : ,'satisfactory balance-sheets in the-his-,.;tory of'.tho company. ',;.' "The' following figures show- tho ..prices which our produco realised on '■■the English market last season, com- '•'■ pared with the High Commissioner's 7; cables for the same date (the latter herring given in parentheses) :—First ship"V Kent, agent's selling price, 1665. to ;;'l73s. (1645. to 168s.); second shipment, selling price 1455. to 1675.

: ,;;(140s. ,to 1505.);' third shipment, , selling price 1465. to N 1565. ~. (1465. to 150s.); fourth ' shipment, :■• agent's, selling prico 1525. to'- 1575. ;•■;■ (1465.- .to 1335.); fifth shipment,' ! -agent's selling price 150s. to 158s. •"(150s. to 1545.); sixth shipment, ..;■ ';'agont's selling price 1525. tp 1545. / (1525. to 1545.); seventh shipment, ~ agent's selling . price 1625. to 1695. ~(160s. to. 1645.-).; eighth shipment, ;., agent's selling .price 1635., to 170s. (1625. to 1(565.J; ninth shipment, ■ agent's selling prices',l66s. %to 170s. : "(1635. to 1665.). . ■■'•'■

• Our suppliers need not be reminded ' of the serious drought which affected this district in the beginning of tbo present year, and which resulted in a considerable .decrease in the quantity , of butter-fat received at the factory during March and April. Notwith. . standing this, our output for the 6ca'soh ■Minder review reached 263} tons—only li tons behind the'previous record season. The maintenance of our output "is due in somo measure to tho fact thai your directors recognised two years ago that home separation was making ~ ranid headway, and adopted an efficient method of collecting cream, which has enabled us to draw upon a very large urea." So far as tho output is concorned, the prospects for the coming season are exceedingly good. .The quantity of butter-fat sent in during the 'last twelve months amounted to 503,951 lb., and tho over-run for the season was 17.1 d per cent. (' . -'■ . . / ■ "The payments to. suppliers, during the past : twelve months were' as follow :—l9ls—August, is. 3d.; September/Is. 2d.; October, ">ls. 3d.; November, Is. 3d.;.December,.ls. 2d. 1916— January, Is. Id.; February, Is. 3d.; .March,. Is. 2}d.; April, Is.'3d.; May, Is. 3id.; June, Is. Shi. ; July, Is. 3}d. "The average payment for the 6easwrii was Is. 2 7-16 th per lb. of butterfat. Your directors recommend.. that out of the surplus for tho present, year a final payment of 9-16ths d. per lb. be paid for ail butter-fat supplied for the twelve months.! ending July 31, 1916, making the average payment for .the sea6ontls. 3d. per lb. - "The surplus for the current year is .£1992 14s. Id., and as the final payment,of 9-16 th d., a reserve of £500 for renewal of plant, and the dividend of 6 per cent, absorb in all the sum 'of £1866 os. 2d. (as shown in the Appro-

priation Account), thero is left a balance of £126 ].'ls. lid. to be disposed of as the sliareholders in general meeting may decide."