PROPOSED CO-OPERATIVE DAIRY COMPANY.

Manawatu Herald, Volume XXX, Issue 423, 13 August 1908, Page 2

PROPOSED CO-OPERATIVE DAIRY COMPANY.

The dairy farmers of Foxton, Moutoa and Shannon held a meeting at Shannon last night for the purpose of discussing the advisability of forming a Co-operative dairy company and to consider Messrs Dalgety and Co.’s offer to sell the existing butler factory at Shannon and creameries at Foxton and Moutoa.' We are not at liberty to disclose the price submitted, but those interested intend to have a valuation made of same before committing themselves. It is a matter for surprise that the dairy farmer in the Foxton and Moutoa district have not started a co-operative dairy company years ago instead of playing into the hands of middlemen. Moutoa possess dairying country equal to anything in the Dominion and the settlers should have no difficulty of guaranteeing 2000 cows in the flush of the season. The settlers in this locality are more favourably situated in every respect than were the promoters of the Ballauce Dairy Co., when they made a start on a capital of and could commence under far more favourable auspices than did the Ballance settlers years ago, with a similar capital account. The matter is entirely in their own hands, and we cannot urge them too strongly to follow in the foot-

steps of their fellow settlers across the ranges. Here is a synopsis of the last annual report of the Ballauce Co - operative Dairy Company which discloses a very satisfactory state of affairs, the balance to the credit on the profit and loss account being ,£2407 is yd, and the net credit balance at the Bank of New Zealand ,£1069 8s sd. An idea of the extent of the operations of the company during the past year may be obtained from the fact that the advances against butter-fat supplied amounted to over >£34>6i9, and' that the sales amounted to ,£42,596 13s Bd. During the past ten years the company has made considerable progress. In 1898 the advances against butter-fat amounted to only ,£10,116 19s Bd, and the sales to ,£15,094 6s ud. Ten years ago the prices advanced for butter-fat were much lower than during the past year, when the average price was 9-34 d per pound. The directors propose to distribute the whole of the surplus amongst the shareholders, after appropriating the usual 5 per cent divided on paid-up capital.