TAMAKI DAIRY CO

Manawatu Standard, Volume LVII, Issue 218, 14 August 1937, Page 5

TAMAKI DAIRY CO

ANNUAL MEETING

Tlie annual meeting of shareholders and suppliers of tho Tamaki Co-opera-tive Dairy Company, Ltd., was held I this week, Mr A. 11. Hansen, chairman of directors, persiding. Tho directors, in their report, stated : —All export produce has been handled by the Government under the guaranteed price scheme, and dairy companies are requested to set up in standard form their accounts and also the information contained in the directors’ report. Certain information given j in tho report, tho statistics, and tho itemised costs to f.o.b. per pound of | bntlerfat, ns well of the correctness 1 of the accounts, have now to be certified as correct by tho auditor, and his report furnished to shareholders. All unsold export produco in the grading store has been valued at tho guaranteed price, allowing for all charges and recoveries. Unsold local cheese has been j valued at 63d per lb, butter at Is Id per lb, and whey butter at 113<1 per lb. Payments to balance date in respect of the year under review equal 1 11.303 d per lb butterfat for cheese and 13.2 d for butter. The directors recommend that the balance in the appropriation account of £15.599 2s 7d be! disposed of as follows: Dividend of 5! per cent, on share capital paid up to June, 1936. as allowed for in the company’s articles; further payment of 2.196 d per lb to cheese suppliers; further payment of 2.187 d per lb to cream suppliers; further payment of 1.983 d per lh tc whey cream suppliers; carrying forward a balance of £2BO 11s lOd. Tho following statistics were presented, the figures for the previous year being shown in parentheses:— 1 Butter-making.—Pounds of milk. 835,493 (1,370,160) ; pounds of cream, 3 035,333 (2,619,678) ; pounds of butterfat. milk 40.664.7 (08,019) ; cream, 1,181,630:7 (.1,027,339) ; average butterfat tests, milk 4.85 (4.90) ; cream. 38.92 (32.21) ; total lbs butterfat used for creamcrv butter-making, 1,222,195.4 (1,095,358); pounds of creamery butter made, 1,480,596 —650.98 tons (1,333,934—595.5 tons); over-run creamery butter made, 21.4 (21./o) ; average grade of butter, 94.02 (94.46) ; cream grade percentages, finest 86.1! (83.13), first 12.20 (14.56), second 1.68 (199). Cheese-making: Pounds of milk, 9,024,965 (11,976,609); pounds of butterfat from milk received over 6tage (no reduction for loss in whey), 384.399.4 (532,670) ; average butterfat test of milk, 4.25 (4.44) ; pounds ol cheese (factory packing weights), 956.528—427.20 tons (1.313,475—586.3/ tons) ; pounds of milk to make lib of ciieese, 9.43 (9.17) ; pounds of cheese to lib butterfat, 2.4883 (2.4658); average grade of cheese, 92.55 (92.381 ; mil.* grade percentages, first 97.67 (95.76), second 2.32 (4.23). Pay-out previous veal* per lb nutterfat (season average), butter 11.931(1, cheese 12.148 c!; pay-out current year per lh butterfat, advance 11.C09d, estimated surplus butter 2.187 d; pay-out current year per lb butterfat, advance 11 303 d, estimated surplus cheese 2.196 d; number of suppliers, 425 (424); lbs.of milk received, 9,860,458 (13 346,769) ; lbs. of cream received, 3,035,383 (2,619,678); lbs. of butterfat from milk j 424,964.1 (600,689); cream, 1,181,630.7 (1,027,339) ; average butterfat test of milk, 4.30 (4.5); cream, 38.92 (39.21) ; total charges, including repaire and depreciation up' to f.o.b. at per lb butterfat, butter 2.259 d (2.124 d) ; cheese, 3.894 cl (3.578 d). The retiring directors, Messrs A. 11. Hansen and G. E. Reiulle, were nominated, together with Dir W. H. Monteitli, and the ballot resulted: G. E, l!endle'-213; A. H. Hansen 207 W. H. Montaith'49. Mr A. V. Thirkell had also‘been nominated, -but as lie had not signed tho guarantee required under the articles of association the chairman ruled- that the nomination could not be accepted. If elected Mr Thirkell would: have been willing to sign the guarantee. The chairman referred to the desirability of cl-osing tiie company’s year a month earlier, and it was unanimously resolved that this be done, the year in future to 'end at May 31 instead of June 30. )" . At a subsequent meeting of the directors Mr A. IT. Hansen was re-elect-ed chairman unopposed for the ensuing year, on the motion of Mr A. England.