SHANNON CO-OPERATIVE DAIRY CO., LTD.

Manawatu Herald, Volume XLVIII, Issue 3678, 16 August 1927, Page 1

SHANNON CO-OPERATIVE DAIRY CO., LTD.

The annual meeting of shareholders of the above company was held in the Druids’ Hall, Shannon, on Saturday. The directors’ report stated that the butterfat payment for the. year, though 2kl less than was paid last year, will probably compare favourably with that of most other dairy companies in New Zealand. The quantity of bu.tter manufactured for the year was 762 tons 14 cwt. 3 qrs. 5 lbs, an increase on the previous year of 21 tons. The average monthly payment to suppliers for butterfat supplied was Is 2.95 d. Provision is maile in the balance sheet for a further payment of 2d per lb. on the season, the total average for the year being Is 4.95 d. It is the intention of the Company to pay 1-Jd of this on the 20th August, and the final Ml jirobably on the 20th September. The average grade was 93.82. The store sales were £27,185 15s sd. The gross profit was £2821 13s Gd, and after deducting wages £1,286 18s 4d, store freight £BOB 6s 3d_. insurance £7O, interest £SO, cartage £l5O, and general expenses £2Bl 9s 3d, a nett profit of £174 19s 8d is shown. The amount to credit of Profit and Loss Account as .shown on the balance sheet, is £l,718 3s lQd. Out of this amount it is proposed to pay the usual 6 per cent, dividend and carry the balance forward. The two retiring directors Messrs R. W. Taylor and W. E. Barber, were re-elected.