ANNUAL REPORT

Hokitika Guardian, 22 August 1931, Page 3

ANNUAL REPORT

OF INTER-WANGANUI CO-OP

DAIRY COY.

The, 23rd annual report of the Inter--Waugnhui v-o-op- Du,ry 1? actory company Ltd., states: — Your Directors submit to the shareholders the 23rd annual balance-sheet lor the year ended 30th June, 1931, and although trying weather conditions and low prices ruled, report a fairly successful daily season. The cream supplied maintained a high average test and with the satisfactory over-run of 201% Inis yielded 19 cwt of butter more than last season

Tlie market presented great difficulties, but your Directors were fortunate in placing a-good quantity locally and making a sale of 50 tons at 12(d f.o.b. The buildings and plant have been maintained in a high state of efficiency —a new power butter-pounder replacing the old out-0.-date hand pounder and better provision made for the water supply by the building of a 3000 gallon concrete tank. The staff lias given very loyal and efficient sendee and the work of the cartage contractor—Mr F. Black, has been excellent.

The Ruston crude oil engine has proved its worth by reducing fuel costs per ton of butter from £7 to £2/6/0.

Your Directors recommend that 3% interest be paid on capital and that £25 be set aside as the nucleus of a renewal fund.

Advances of fourteen pence per pound have been made for first grade September butter-l'at and tenpence p r pound for finest grade throughout the remainder of the season, and provision ig made for a further payment of one-and-a-half pence per pound on tlie season’s butter-fat.

The retiring Directors are Mr P. J, Minehan, Mr W. J. Hewer and Mi' P. S. Hansen. All these gentlemen are eligible for re-election, as is also the Auditor, Mr R. Wild.

Pounds of cream received 576,676; pounds of butteivfat 218,509; pounds of butter manufactured 264.156 (117 tons 18 ewt. 2qrs‘. 41bs.) Over-run 20£%. Average test 37.891.