THE SHANNON CO-OPERATIVE DAIRY CO.

Manawatu Herald, Volume L, Issue 3976, 27 July 1929, Page 2

THE SHANNON CO-OPERATIVE DAIRY CO.

ANNUAL REPORT. The following is the Directors’ report to be submitted to the annual meeting of the Shannon Cooperative Dairy Co., to be held at Shannon on August Bth: — The assets and liabilities are as follows: — Assets: —Land £644, buildings, machinery £BOO, stocks on hand £15,054/7/7, sundry debtors £1,178 13/-, share purchase account £l7 8/9, shares N.Z. Farmers’ Fertilizer iCo. £3OO, shares N.Z. Co-op. Freezing Co £2.007/10/-, shares N.Z. Exporter Newspaper Co. £SO, Bank of New Zealand, Foxton £6 6/10. Liabilities: —Nominal capital £6, • 000, subscribed £4,169/7/6, sundry creditors (includes suppliers) £ll,455/8/3, reserve fund £1,885/11/9, forfeited shares £33/17/9, Bank of New Zealand, Shannon £lO2/2/5, profit and loss account £3,311 18/6. The Butter Trading account showed purchases of butterfat during the year to be £139,053/9/-. Manufacturing expenses were £2,334/11/4. Sales totalled £142,613 11/2 and there was £10,196/2/6 worth of stock 1 on hand at the end of the year.

“Your directors have much pleasure in presenting for your consideration the twenty-first- annual report iand balance-sheet for the year ended 30th June, 1929, Taking info consideration the several floods and condition of roads, which has necessitated the carting of cream at times from M'outoa and Foxton around through Palmerston North, incurring considerable expense, the year’s working is very satisfactory, showing an increase both in butterfat and payment, over last year. “The amlount of butter manufactured for the year was 933 tons 3 cwt. 0 qrs. 17 lbs., being a record and showing an increase over the previous year of 119 tons 1 cwt. 3 qrs. 7 lbs. average monthly payment for all grades butterfat was 17.926 d. Provision, has been made in the balance-sheet for a further payment of 1 5-Md per lb. on the season’s supply, bringing the average payment for all grades butterfat for the year to 19.238 d. “The average grade was 94.317, all butter being of finest grade. “The store business again shows an increase and a nett profit of. £924/17/9 on the year. “The amount to credit of profit and loss accounts as shown on balance-sheet is £3311/18/6. Out of this amount your directors propose to pay the,usual 6 -per cent, dividend and carry the balance forward.” The following nominations have been received for Directorship:— Messrs W. Jaimes and O. H. Stiles (retiring Directors), Ronald J. Law, and Thomas Gardner. As only two vacancies occur it 'will be necessary to hold a ballot. The average pay-out for the past season of 22.7 d is claimed by the W'flitoitoi (Taranaki) Co-opera-tive Dairy Company as a Dominion record. The season’s make of about 300 tons of cheese was sold at 9gd iper lb.

The average advance for the season by the Levin Co-operative Dairy Co. is Is 5.304 d per lb., for finest grade butterfat, and a further payment of 2d per lb. butterfat; is to be paid, making -an average of Is 7.30dd per lb.