The Fielding Star. Published Daily. FRIDAY, APRIL 6, 1894. CHELTENHAM DAIRY COMPANY.

Feilding Star, Volume XV, Issue 281, 6 April 1894, Page 2

The Fielding Star. Published Daily. FRIDAY, APRIL 6, 1894. CHELTENHAM DAIRY COMPANY.

The report and balance - sheet of the Cheltenham Dairy Company to j be presented to the shareholders at j the meeting to be held this evening j are highly satisfactory. They show that the Directors have honorably , and with business intelligence carried out the very onerous duties of their j position. From the balance-sheet we ] learn that £898 Is Id was paid to suppliers, and the butter sold realised £1339 13s 2d gross. The general expenses amounted to £482 5s 7d, but as this includes bank interest on £1 81 7 1 Is j wages, £89 12s ; firewood, £41 12s 6d; insurance, and £116 15s 6d for milk and cream cans from which has to be deducted stoppages for cans £84 13s, cash received for cans £34 5s and sale of buttermilk £4 5s 2d, the actual working expenses for the half year do not amount to two hundred pounds. These figures speak for themselves. The actual capital employed in the concern is Share Account £455, sundry creditors £575 5s 6d and bank overdraft £1817 11s 7d making a total of £2847 17s Id or nearly £900 in excess of the subscribed capital of £2000. This is the one weak pomt — apparently — in the statement, but as the Directors have been authorised tfi increase the capital of the company by the issue of fresh shares, besides having £1515 in their Capital Account to draw on, their position is practically unassailable. The assets of the company, £2426 18s 4d, for land, plant, and buildings, are worth their face value seeing that everything is new, in perfect condition, and was erected at a minimum of cost. As to the operations of the Company, the report shows that the factory began to receive milk .in October, 1893, and since that time 1,122,544 pounds of milk have been accepted, from which 41,150 pounds of butter were made, the greater portion of which was disposed of at 9*d per pound. The proposal of the Directors to keep the factory in full swing during the winter ought to be well supported by the suppliers seeing the absolute cash advantages which must accrue to them thereby. In conclusion we offer our congratulations to the Shareholders on the success the Company has achieved, and we venture to predict that if the present system of management is continued its prosperity will be even of a more marked character.