N.Z. DAIRY COMPANY.

Hauraki Plains Gazette, Volume XXXIII, Issue 4457, 23 August 1922, Page 2

N.Z. DAIRY COMPANY.

THE ANNUAL REPORT. LAST SEASON’S PROGRESS. The third annual report or the ai-» rectorr, oL the N-Z. Co-operative Dairy Cp.j Ltd., was presented at the annual meeting of the company, held at Hamilton this afternoon. The report, stated that during the season 18,200 tons of butter were . made, against 12,600 for the previous season. There had been a marked improvement in the Quality of the butter and casein manufactured during the past year. Unfortunately the splendid dairying season had been counterbalanced by the unprecedented slump in the price of all dairy products The industry had passed through the greatest crisis on record, but the strong financial position of the company and the results obtainedspoke volumes for co-operative enterprise. Referring to the improvement of market conditions, the report stated that Mr Goodfellow’s visit to the overseas markets had already been of considerable benefit to the Company, and it was anticipated that great advantages to tjie business would accrue in the future. The attempt to form an export pool for all dairy produce did not materialise ow-i ing to lack of support from the Sou h Island.

Owing to the tremendpus expansion of the industry the manufacturing capacity of the company’s plants had been practically doubled, otherwise milk and cream offering could hot have been handled. Those plants had been paid fpr by borrowing from -he banks. The expenditure had greatly exceeded share calls, and •it would consequently take two years’ sharepayments to enable .the company to pay out promptly at the dose of each season. ,

The box department had proved an unqualified success. There had been a direct saving of over £25,000. The %d per pound required to provide the capital would be deducted next season.

The development of the coalfields was .well in hand. The final %d tp provide the total capital would be deducted from the past season’s payments. It was anticipated that coal would be available in large quantities for factories in a year’s time. The company’s coal requirement now exceeded 70,000 tons per year.

At May 31 considerable quantities pf dairy produce were still in store unshipped, while stocks In hand were larger than usual. Shipping facilities for Great Britain had been very unsatisfactory throughout the year, and produce had been retained in cool stores in New Zealand much longer than was desirable. - The following statistics indicate the scope of the company’s operations during the past season.:

Milk received for butter making, 75 842,0001 b; milk received for cheese making, 105,467,4571 b; cream received, 73,451,3401 b; total butter-fat for butter making, 33.982,078 lb; total butter made, 40,809,1861 b; over-run, 20.09 per cent.

Total butter-fat for cheese making, 3,981,7411 b; cheese made, 10,507,7971 b; average cheese made from 11b butter fat, 2.6391 b. Casein made, 497.555 tops.

The total average price paid for supeiflne cream at central factories would be 16.46 d, conditional on the unsold butter realising the prices at which stocks on hand and afloat had been valued. Supliers delivering to railway stations received W lossTn a circular* to suppliers it was stated that the company had agreed to give up its merchandise, department forthwith, and the Farmers? Cooperative Auctioneering Company was to take oyer certain stocks in Auckland. A reciprocal agreement between the two companies had been agreed upon. The following. extracts from the cheese summary are of local interest:

Av. test lb. Jhf. lb. cheese Nctherfojf“"“ 47T2'~224i077"'’571?290 Shelly BeaeH 3-75 286,162 754,145 WFarepoa 3.74 211093 551;010 Hiktuaia 3.78 311,055 823,245 Huirau Road 3.85 225,056 597.954 Matatoki 3.81 253,027 673,124'