HINUREA DAIRY COMPANY.

Putaruru Press, Volume VII, Issue 296, 11 July 1929, Page 6

HINUREA DAIRY COMPANY.

; ANNUAL REPORT. Successful Season Reviewed, 1 Another period of expansion is reviewed in the seventh annual report of the directors of the Hinuera Dairy Company, which is to be presented at the annual meeting of suppliers on Thursday. The following table of annual outputs of butter is interesting : 192223, 147 tons ; 1923-24, 275 tons ; 1924-25, 288 tons ; 1925-26, 346 tons ; 1926-27, 443 tons y 1927-28, 514 tons ; 1928-29, 665 tons.

The report states that the average grade of butter manufactured has steadily improved and is instanced by the company securing a first prize award for butter at the Auckland Winter Exhibition. In addition to paying a tribute to the factory management tile directors express satisfaction with the co-operation of suppliers in taking advantage of farm dairy instruction and sending "to the factory cream which is well cared for and of good quality. It is •not suggested in this connection that the limit of attainment has been leached.

. The annual accounts represent the final returns for the season, showing a total average bntterfat return, ir-

respective of grade, of Is 6.65 d per j pound. After providing for cream cartage (.3d per pound of butterfat) and crediting shareholders’ capital accounts with £1520 3s 2d, and paying a bonus of id per pound, where shares are fully paid, amounting to £855 12s 3d, there remains the sum of £4733 2s 7d, which it is proposed to deal with as follows : (a) A bonus of Id per pound on November supply, bringing advance payments to Is 5d nett throughout the year ; (b) 7 per cent, interest on share capital paid up ; (c) a final bonus on all butterfat of 11-16 d per pound. All the above payments will be disbursed on the date of the meeting, and the total butterfat payment for the year to 96 suppliers amounts to £95,541 15s.

The company’s total operating costs, embodying factory, marketing i and administrative charges, show a j substantial economy, and work out at i 1.945 d per pound of butterfat, or £l4 j 19s lOd per ton of butter manufac- : tured. In this connection the directors i record their appreciation of the efV forts of all members of the staff. 1 The annual summary of statistics J"is as follows: Number of suppliers, '96 ; quantity of cream received, ' 3,133,917 pounds ; average cream test, 39.236 per cent. '; quantity of ! butterfat received, 1,229,633 pounds ; : quantity of butterfat made into but- | ter, 1,229,633 pounds ; quantity of butter made, 1,489,779 pounds ; butter made per 100 pounds of butter- '- fat, 121.15 pounds.