PARAPARAUMU CO-OPER ATIVE DAIRY CO., LTD.

Otaki Mail, 13 August 1923, Page 3

PARAPARAUMU CO-OPER ATIVE DAIRY CO., LTD.

The following- is the first annual report and balance sheet for the year ending 30th June, 1923, to be submitted to tho shareholders at the annual general meeting to be held shortly:— “To the shareholders, —Vour Directors have great pleasure in presenting the first annual report and balance sheet. The season has been a record one for the district. The total quantity of milk handled by the Company since commencing operations us a separate concern on September Ist, 1922, was 3,929,012 lbs. Of this total 3,203,727 lbs. were made into cheese, 603,095' lbs. wore sent to Wellington, and 59,711 ibs. were separated. The total quantity of butter-fat was 159,167 lbs. and the average test -1.05. Tho quantity of cheese made was Jl7[ tons, some 25 tons more, than was made in the old factory the previous year. The total value of the products for the period was £22,831 4s lOd. The whole of the Company’s buildings and plant, willi the exception of the manager’s residence, which requires renovating, is in good order, anil maintenance costs should be light for the ensuing season or two. Advances have been made to suppliers for ehcesemakiug, averaging ,1s 4d per lb. of butter-fat for the season. A further payment is to be made immediately, with a small final payment ye,l to come. In addition to these payments fpl per lb. is being held toward payment of the liability on the Company’s property, and tliis amount is being credited to each supplier’s share account. A call is being made on ordinary shares to cover this amount. The Directors recommend that a dividend of 7 per cent, be paid on preference shares for the period. This will absorb £49 for which provision lias been made. The Directors retiring by rotation arc Messrs. W. 11. Potts and A. ITardham, who. being eligible, offer themselves for re-election. You will be required to elect. Auditors for the Company for the ensuing year. MALCOLM MACLEAN, Chairman. ’ ’