SMALLER OUTPUT

Hawke's Bay Herald-Tribune, Issue 188, 26 August 1937, Page 3

SMALLER OUTPUT

Heretaunga Dairy Company's Season Oaiupared with tbe previous; season, tlie output of butter iroin tho Heretaunga C'o-operativo Dairy Couipany's two factories decreased last season by 231 tons, the spring and autumn months, being imfavourablo to dairy farming. . This position was reveafed. in tliecompany's balance-sheet and: report. . "Tlie season, particularly regardipg the spring and autumn months, "lias been very adverse to dairy farming 1 in our district,"' stated tlie report. "The result is shown in the decreased output from our two factories of 231 tons of butter. For the year to 30th June, 1936, the output was 2493 tons, against 2262 tons for the past season. ' "From the 1st August, 1936, the guaranteed price of 12 9/16d lias been paid by tlie Government, the Primary j P-roducts Marketing Department -paj ing j this price for all butter grading 93 to 93.) points, with variations in payments above and below this grading, and for unsalted butter. . . * "The valuation for unsold stoeks of butter at iotli June, 1937, was 'taken on the above bosis for export butter and relatively for local saies butter at l/l)d Surplus Of ^45,000 "Tlie appropriation aceuunfc shws a surplus uf £15,156 6/1, whicti the directors reeammeud be distributed as follows.— That the bouus be 2 9/16d. to shareholdera who have supplied over 30Ulbs of butterfat; that tlie bouus be )d to sliureliolders who supplied under 3(J01bs of butterfat; that tho bouus be 2 l/16d to non-sharehoklers who supplied over oOOlbs of butterfat. That the dividend on shares be 5) -pery cent on the paid up value held during the year. That £500 be paid to the general reserve account, £160 to the reserve account for had debts and that the balance he carried forward. The bonuses witl be paid over the wliole twelve months, and the usual deduction - will be made for shares held by "B" sharetiolders who do not liold their quota." "The payments recommended above, together with directors' fees, will absorb '£4.4,993 of the £46,156 standing to tiie .credit of the appropriation account, leaving say £163 to bo carried forward. "For the yer.r to 30th June, 1936,- tlie estimated payment to sliarehol'ders ever afll grades of-creaiu was 12. 161d per Jb butterfat, but on payments nlade ou realisations-this showed ab 12.317d. per lb butterfat. "For tlie currout season tlio average payment 'for bitter-fat over all grades lias been 10.817d per lb., aud witli tlie bonuses recommended above, the payment for the season will be 13.291d over all grades of'eream. The average payment to shareholders, on the sahie basis, will be 13.379d, and finest gi'ade eream 13.563-d.' These priees are at farm gate. Ccneral Information. • The balance-sheet also contained the following comparative information, figures for the previous season appearing in parentheses except wheie otherwise stated: — * Payout _ previous year per pound butter-fat (season average) 12.317d; payout curreut year per pound butterfat (advance) 10.S17d, estimated surplus- 2.474d; number of suppliers. 2 010 (2.001); pouuds of eream received, 10,550,930; ponnda of butter-fat 'from i ct'uttiu, 4.137,221.9 (4,348,190.7); aver-

4 age butter-fat test of eream,' 39.21; total eharges, including repairs and depreeiation, np to f.o.b. at per pound butter-fat, 2.311 (1.995) ; total pounds butter-fat used for creamery buttermaking, 4,132,091.9 (4,543,110.7); pounds - of creamery butter made, 5,067,904 (5.585,544) ; overrun creamery butter made, 22.647 (22.945) ; average grade. of butter, 93.386 (93.010); eream grade percentages, finest 66.94 pqr cent. (67.93 pcr cent.), first 31.72 per cent. (31.23 per cent.); second, 1.34 per cent. •(.84 per cent.) ; pounds butter-fat in eream sold, 5.133 (5.(0SG).