SHANNON DAIRY COMPANY.

Manawatu Herald, Volume XXXIX, Issue 1739, 24 July 1917, Page 3

SHANNON DAIRY COMPANY.

VERY SUCCESSFUL YEAR. The year ended June 30lh last was one of the most successful in the history of the Company. The sum of £1,004 2s 3d was brought forward from last year, and the profit for the year just ended was £1,203 8s 7d. The sum of £387 38s !)d was written off for depreciation, leaving a balance of £2,410 12s Id. It is proposed to pay a dividend of six per cent, on the paid up capital, and carry the balance forward. The Government tax of threo-far-tbings per lb. on butter fat amounted to £1,041 7s 9d, and this amount lias been paid, and a refund of £Ol3 17s Od has been received from the Board of Trade. The quantity of butter manufactured during the year was 3451 tons, an increase of a little over 5-1 tons on the previous year's output; 5,271 boxes were shipped to Loudon, and the balance sold in the Dominion. The average grade for the season was 03.23, average overrun 18.4. The .following prices were paid to suppliers for butter fat: July, milk Is ltd, cream Is 4. ; , ! d; August, Is 5d and Is' 5.1 d: September, Is (id and Is (bid: October and November, Is 5d and Is sJ<l;‘December, January ami February, Is -Id,and 3s 4 Id; .March, Is 5d and Is 5.1 d; April and -May, 3s (id and 3s (bid; June, Is Sd and Is Bld. Provision has also boon made for an extra payment of three pence per lb. for October, November, December and January, which will make (he average payment for the year Is 7d per lb. The sales from the si ore, run in connection with the factory, totalled £33,500 His 2d, an increase over those of the previous year of £1,005 0s Od. The gross profit was .£BOO 15s lod, and after allowing for freights, wages and interest, a net liroiil of £l,O ,1s 3d was shown. The authorised capital of the Company is £O,OOO, but Lhc paid up capital is only £1,4i)0 5s (id. The Company’s land, buildings, machinery and plant arc set down at. £3,844. _______