16.725D PAY-OUT

Hauraki Plains Gazette, Volume 52, Issue 3296, 4 August 1943, Page 5

16.725D PAY-OUT

TE AROHA-THAMES VALLEY REVIEW OF THE SEASON 2155 TONS OF BUTTER MADE The average pay-out of the Te Aroha-Thames Valley Co-opera-time Dairy Company, Limited, for , the 1942-43 season will be 16.703 d and, with a dividend of .022 d added, the total will be 16.725 d lb. butterfat, according to the directors’ report to be submitted at the suppliers’ annual meeting at Te Aroha on August 14. The season’s output amounted to 2155 tons, and but for the shortage of labour and fertiliser and the loan of 1000 tons pel’ annum to the New Zealand and Morrrnsville companies the output would have exceeded 3000' tons of butter. The company manufactured 232 tons of loan supply for other companies. Grading for the season averaged 93.609, and substantial premiums were received on butter grading 94- and over.

'Overhead costs were reduced I by over 30 per cent, with the result that costs up to f.o.b. were reduced to 1.982 d per lb. The actual payment for the previous season was 16.128 d, which included .097 d per lb. Government subsidy. No export butter was held in stock at June 30. Cream cartage costs amounted to £llB Is Bd, repiesenting .007 d per lb. on the total butterfat received. A cheese subsidy of lid per lb. butterfat, totalling£lo,B9o ss, was received from the Government on account of 144 suppliers. A dividend of 1 per cent, will be paid on share capital, and the directors do not recommend any transfer from appropriation account to reserve.