OROUA DOWNS DAIRY CO.

Manawatu Herald, Volume XLVIII, Issue 3692, 17 September 1927, Page 3

OROUA DOWNS DAIRY CO.

ANNUAL MEETING OF SHAREHOLDERS.

The Oroua Downs Dairy Company, Ltd., held its annual meeting on Monday the 12th inst., when a good number of shareholders were present. Mr. F. Nathan addressed the meeting on the cheese prospects and the advantages of waxing cheese. The report and balance-sheet give the following details of the past season: —Milk received, 7,126,809 lbs.; butterfat, 290,118 lbs.; cheese made, 765,563 lbs. (341 tons 15 ewt. 1 qi*. 15 lbs.); yield, 2.63 lb. of cheese per lb. of butterfat; average test of milk, 4.0 per cent.; lbs. of milk to lb. of cheese, 9.3; cost of manufacture, .704 d per lb. of cheese; cost of management, .549 d; total cost to f.o.b. is 2.53 d per lb. cheese. The average pay-out to date has been 13.41 d per lb. butterfat. With the balance available, subject to the cheese realising the estimated value placed upon same, the company could pay a further 2.7 d, making the total payout for the season 16.21 d. The directors who retired were Messrs J. F. Conlan and A. Nichols. They offered themselves for reelection and wei*e re-elected unopposed'. > , A bonus of lid per lb. butterfat over the season was paid at the meeting and • a further payment will be made when the final payments come in from the Control Board. A similar bonus to last year was voted to the factory staff and secretary. Owing to the Control Board holding the cheese in store for a considerable period, very heavy expenses were payable for storage and also an excessive shrinkage was shown, which cut down the payout by about 3-Bd. , , , Last, season was the largest output since the Company was formbd and the present season’s outlook indicates not only a larger output still, buit very payments. At present the supply is 350 gallons ahead of this time last year. ' _____