SHANNON DAIRY COMPANY.

Manawatu Herald, Volume XXXIV, Issue 1089, 29 August 1912, Page 3

SHANNON DAIRY COMPANY.

The following report will be presented at the annual general meeting of shareholders of the above Company to be held on the 31st instant ;

“In presenting the balancesheet for the period ended July 31st 1912, we are pleased to be abie to again congratulate shareholders on another successful year’s operations. For the eleven mouths suppliers delivered 375,--ogclbs of butter fat tor which they received £ 19,713 10s 7d. The amount of butter manufactured was 196J3 tons as against 158 tons lor the previous twelve months, an increase of tons. The average test was 3.94, and it has taken 2i.341bs of milk to make one pound of butter, the overrun being 17.34. The following prices have been paid for butter fat: September to January, is ; February and March, April, is ; and May and June is id. The balance oi profit and loss after providing for all working expenses is 8s qd, which, with the balance brought forward from last year makes ,£2037 14s 2d. From this sum we have written off ,£367 15 2d tor depreciation, and propose dealing with the balance as follows: by payment of a dividend of six per cent on the paid up capital and carrying the balance forward. During the year a residence has been built lo r the creamery manager at Foxton, also a storeroom and slables. A produce store has also been built at Shannon ; this has been of great use to suppliers, enabling them to purchase their goods at a minimum cost. The turnover has exceeded expectations, amounting to The prospects for the coming season a;e very biighi, everything nointiug to another successful ytar.”