TURUA DAIRYING.

Hauraki Plains Gazette, Volume XXXIII, Issue 4460, 30 August 1922, Page 4

TURUA DAIRYING.

• HAURAKI PLAINS COMPANY. SEVENTH ANNUAL REPORT. An optimistic note is struck in the seventh annual report ofi the Hauraki Plains Co-operative Dairy Company, Limited, Turua, for the year ending June 30, 1922. The report, which will be presented by Mr A. H. Rogers (chairman of directors) at the annual meeting of the company to-morrow, states that as far as this year’s .working is concerned a satisfactory position is shown, taking into consideration the violent fluctuations in market values for both butter and cheese for the past season and low values which have ruled for, the greater pare of the year in comparison with the past four years. It was regretted that the fail in butter, and cheese values came so suddenly, more especially jn view of the fact that it had been impossible to reduce the cost of manufacture and marketing in proportion ' to the prices realised,. RECORD PRODUCTION. The season had been a record one for production, the report continued, and would to some extent help compensate for the low prices receiveed. During the past season the company had made 585% tons,of cheese, 67% tons of 'creamery, butter, and 20% tons of whey butter. On a cheese basis this would be equivalent to an output of 745% tons without taking iritp account the whey butter. This showed an increase 'of 168% tons over the previous year. The average pay-out for the season to date has been Is Id for cheese, and 12.2 d for butter.. The estimated balance of £4914 6k 5d payable to suppliers would give a further average bonus of 1.7 d per lb of butter-fat to cheese suppliers, and a further average payment of 3.8 d per lb Of butterfat to The„totalfor the season, there- 1 fore, would be Is 2i7d for cheese and Is 4d for butter,. These , payments would be free of any reclamation pro-, vided the balance .of cheese unso.d realised the amount at . which it had been estimated.. That estimate had been airrived at on the advice of the ■ Company’s merchants. The butter had been practically all sold, and it would be possible for the directors to recoin- i mend the payment of a full and final | bonus. The directors also recommend . that a bonus of Id per lb butter-fat | be paid out on cheese. These amounts, together with, share capital interest,

which equals a further %d per lb of butter-fat, would be paid out, after the meeting. The balance on cheese would be paid out wjien final realisations came to hand, probably about the end'of September. ( ADDITIONS TO PLANT. > : As to the deficiency on last years’ figures, the report stated that al- 1 though it. was most regrettable that the amount realised for cheese un- , . sold at June 30, 1921, fell so much I below the estimated figures, the directors felt that in paying out a con- ,I servative bonus last year they had , acted in the best interests of the suppliers. Had they n<st done so heavy reclamations off this season’s butterfat would have been necessary. As it was, the net deficiency on last year’s figures amounted to only £388,. which I was | largely set off by. the prpflt of 1 £255 16s Id on the closing of the fin- | ance loans account this year. | I It was a pleasure to report that the I plant installed last season had been. 1 more than justified,, it ■ 'having-been 1 possible ’ to manufacture the •>company’s whey cream into butter , and market same to the' best ‘possiW® udvantage. IMPROVING THE QUALITY. The necessity for delivering milk to the factory in the best possible condition was- again emphasised, so that the highest grade article could be obtained. It was pointed out that the improvement in cheese exported from New Zealand had not kept pac? with the improvement in the quality Of butter. It was hoped that the recently .installed plant, which was to more effectively deal with the supply, would result in the quality of cheese and butter,' and would obviate the necessity’ of any undue waiting at the factory.. At the close of the past season Mr R. M. Stevens was appointed manager of the company. Directors retiring by rotation are Messrs R. G. Miller and G. Gray. Mr Millep is jjot — ing re» election, but 'Mr Gray’s sei - vices are again available... THE BALANCE SHEET. The balance-sheet showed paid-up capital to be £6OlB, with an. overdraft of; £B3lO and advance against cheese and butter of £3531. After providing for depreciation the factory buildings were put down at £7524 and the plant at £6105. The value of the cheese : and butter afloat was estimated at I £lO 694'. The company holds shares ! in other concerns to the value of £5OO- - Payments for milk and cream ■totalled £33,124. Factory charges , were £9035, being made up of wages

£3122, supplies £4031, fuel £1315, repairs and maintenance £567. An amount of £359 was put down to office expenses, while other charges were: Freezing, .shipping, and wharfage £1479, rates, interest, and insurance ! £1244, cartage £378. The sum of £554 was set .aside for depreciation. ; The receipts for cheese sold -or awaiting sale were £39,108, butter £11,094, and whey butter £l5BB. i ==