King Country Chronicle Saturday, July 25th, 1914. TE KUITI DAIRY FACTORY.

King Country Chronicle, Volume VIII, Issue 689, 25 July 1914, Page 5

King Country Chronicle Saturday, July 25th, 1914. TE KUITI DAIRY FACTORY.

The balance-sheet of the Te Kuiti District Co-operative Dairy Company, which has just been issued, shows a position which should be eminently satisfactory to the shareholders. In a new and rapidly developing district such as this, such a concern as a cooperative dairy company was bound to show rapid expansion in its operations. That this has been the case in connection with the Te Kuiti factory is indicated by the figures shown in the balance-sheet. Moreover in all growing concerns, it inevitably happens that a considerable ■ portion of .the pre fits have to be sunk, in providing extra facilities due to expansion. Until the present year this has been the experience oE the Te Kuiti factory, and while the objective of paying the highest possible rate to suppliers has been consistently maintained, additions and improvements to plant have been provided. The fact that' the price paid to suppliers for thp season averages 11 id per lb butter fat should be an indication that the affairs of the company have been administered in the best interests of the suppliers, ris it is claimed this equals the price paid by any other co-operative company operating under similar conditions in the province. In addition the sum of £2OO has been written off for depreciation, while the deficit from last year amounting to £165 has also been wiped off, as well as por-

tion of the preliminary expenses. There is left a balance net profit of £l4B out of which it is proposed to pay interest on paid-up capital, leaving a balance .of about £l2O to carry forward. This, together with stock now realisable, will provide over £I2OO to work on for the coming year, and should place the company in a position to employ its activities in materially benefitting ita shareholders and suppliers, and the district generally. An important and interesting feature of the* company's operations during the past year was the assistance rendered to suppliers in the matter of obtaining stock. The amount of over £6OO was so utilised, and it is satisfactory to note that this has practically all been repaid. There was no attempt made to obtain a direct profit from these advances, but the benefit to both the individual settlers and to the district can hardly be overestimated. There is little doubt this branch o£ the company's' operations ia of immensa value ..to the district, and it is to be hoped the system will be continued. However, it may be

reasonably argued that such advances, should only ba made to suppliers who are willing to 'become shareholders of thß company. This is merely consistent with the spirit of true co-operation in which the benefits derived should be mutual. Everything considered . the operations of the company in the district regarded from the standpoint both of the public and of suppliers, may be considered highly satifsactory. During the season the amount of nearly ! £16,000 was paid out for butter-fat, and this supply of ready money distributed in the district must be of allround benefit, while the fact that each season should see a greater amount distributed, conveys some idea of the widespread benefits derived by the establishing of the industry. As an indication, moreover of the inestimable advantages of co-operation the experience of the district should be valuable, and it rests with the settlers to increase those advantages by every means in their power.