APITI CO-OP- DAIRY COMPANY, LIMITED.

Rangitikei Advocate and Manawatu Argus, Volume XXXII, Issue 8911, 3 September 1907, Page 3

APITI CO-OP- DAIRY COMPANY, LIMITED.

* % m, „ nTiiinfil meeting of the above Ih « Ifm Jtho Oddfellows’ Hall vvas hold Friday, when Mr ti o^ o Osborne presided. The followreport was submitted and W vnnr <l directors iiavo pleasure in * „,,Hnsr to you their twelfth aup i reoo?t and balance sheet, from you will see that the last ''’“on 3ms been a very satisfactory The profit on the year’s workjurr was £2OO 10s lid, from which the directors have deducted the sum of £]oo for depreciation, and also have written off the balance of the formation expenses, viz., £lO 17s. This leaves an available balance of £173 13s lid. Your directors recommend a dividend of six per cent bo paid to shareholders and carry the remaining amount forward. The amount of milk received was 5 885,9121h5., which produced 225,13.1.7231bs of butter fat, from which was made 23(>,0731bs of commercial butter, being an average of 22.931 lbs of milk to Jib of butter. Every 11b of butter fat, 1.14 of butter. The av outgo price for buttor fat was 8.79 Gd per lb or nearly 9d per lb, and the average tost 3.944; Mr Falconer, the manager, has been retained for next season.

Messrs J. Gould, O. H. Miller and H. Hall were re-elected directors. The balance shoot, which was also adopted, shows the assets to bo £5038 2s Cd, and the liabilities £540 8s 7d. The total receipts for the year, including balance of £BB ISs brought forward, were £11,983 (is jOd, and the expenditure £11,809 12s lid. The sum of £8251 12s 4d was paid out for milk. Arrangements have been made to start the factory on September 9th.

The necessity of having a hank in Apiti was also discussed and steps will be taken to have one established.