N. Z. DAIRY CO.

Hauraki Plains Gazette, Volume XXXVI, Issue 4799, 16 January 1925, Page 2

N. Z. DAIRY CO.

THE FINAL PAYMENTS. £1,250,000 IN THREE MONTHS. With the distribution of approximately £50,000 at the end of this j: month as a final payment of last season’s butter production the position ' will be reached that no less a sum ? than approixmatcly £1,250,000 "ill have been distributed to suppliers of the N.Z. Co-operative Dairy Co., IXd„ . in the three months, November, De- - r cenibet, and January. j'n

In an interview Mr Goodfellow, managing director of the company, stated that the final payment on last '■■ year’s butter production would be payable at the end of this month, and would be at the rate of per butter-fat on supplies delivered from, J January to April, inclusive. Further, a winter bonus would be paid amount- . ing to 2d per lb on all butter-fat supplied in the month of May and Id per ‘ lb foi fat supplied for the month of.’'" June. These sums would absorb approximately £50,009, and with' the . monthly payments on the current season’s production, made on the 20thof November, December, and a grand total of one million and a? quarter was attained. “The final pay- - ment about to be made,” said Mr , ;. Goodfellow, “made the full payments of the company for butter-fat ed in the form of superfine cream at central butter factories for the ; season stand as follows : July, is August,. september, -October, November, December, January, February,.. March, April, Is 7d; May, Is 7%dG . giving an average over the company’s total butter-fat receipts for butter-./,., making purposes of Is 7d.

In the case of cheese suppliers it' was explained that the final payments , could not be made just yet, because the final figures had not been receives s ed from London, and owing to' thefact that the returns for each factory., ' had tc be made up independently it.\ was impossible to work out the final ' pavment from cabled returns. In consequence the amount of the final l '! cheese bonus would not be ascertain-'

ed until the actual account sales haiS* been received from London.

A CONSERVATIVE POLICY.'

Discussing the advance payment, Mr Goodfellow said that in face of the’ general market- position the directors •- of the company, at their meeting on Wednesday, had been forced to main- H. tain a conservative policy, and conse-? quently no change would be made in . the advance payment to be made on : January 20 from that adopted in the previous month—namely. Is 2%d perlb for superfine cream or milk supplied to the company’s butter or cheese factories.

‘‘The season has been an exceptionally good one," continued Mr Goodfellow, “and our production bids fair to eclipse all previous records. The butter output for the month of De- ■ cember from the company's 13 factories was 3280 tons of butter, compared with 2830 tons for the month of De- . cembei, 1923, showing an increase of 15.88 per cent, for the month. . The output for the seven months, June to December, inclusive, was 12,670 tons,' compared with 11,659 tons for the, same period in the previous year, this being an increase of 8.66 per cent. The output of cheese for November was 66? tons, compared with 619 tons for November of the previous season, an increase for the month of 7 per - cent. The cheese manufactured in the six months, June to November, inclusive, totalled 1888 tons, an increase of 13 per cent, over the sanies period in the previous season.

“As other parts of the Dominion.- ( are also experiencing a very satisfac-' • tory productive season; it seems cer-><:-tain,” concluded Mr Goodfellow, “that// an absolute record for the Dominion.will be established in dairy produc-'; tion. The main part of Taranaki, ac; cording to the latest figures, shows:-/ an increase of 26 per cent. In the.. .. manufacture of butter up to Decern;. - - ber 31, but a slight decrease in cheese, while some leading companies?;* in other parts of that territory show-/' increases of from 7 per cent, to 8 per ■- cent in butter-fat production. The" 3 extent ,to> which the countrv’s production is increasing emphasises the im--/ portance of the part New Zealand now / plays on the London market and the necessity for attention being concentrated upon the marketing .end of the business.” .