MIDLAND DAIRY OUTPUT,
Output of the Midland Co-operative Dairy Company, Ltd., in the last season was 1145 tons, compared with 1314 tons in the previous season. This decrease, attributed to two successive drought years, offset to some extent a reduction of £6000 in costs. However, the cost per lb butterfat was 0.134 d lower at 3.07 d. Unsold butter on hand at the end of the year was valued for balance purposes at Is 33d per lb. The sum of £1000 has been written off for depreciation. After advancing Is 2d per lb for finest grade butterfat throughout the year, the appropriation account discloses a surplus of £12,220, compared with £9313 the previous year. The directors recommend that the surplus be distributed as follows:—To make a final payment of ljd per lb to shareholder-suppliers on all butterfat supplied during the year; nonshareholders, \d per lb less, in accordance with the memorandum of association; to pay a diyidend of 2£ per cent, per annum on paid-up capital; to carry J foirward gn» .balance,
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Evening Post, Volume CXXX, Issue 92, 15 October 1940, Page 16
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172MIDLAND DAIRY OUTPUT, Evening Post, Volume CXXX, Issue 92, 15 October 1940, Page 16
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