RONGOTEA DAIRY COMPANY.

Rangitikei Advocate and Manawatu Argus, Volume XXII, Issue 8999, 12 November 1907, Page 2

RONGOTEA DAIRY COMPANY.

ANNUAL MEETING OP SHAREHOLDERS. The annual meeting of shareholders of Rongotoa Co-operative Dairy Company was hold at Kongotea on Saturday. Mr Perry presided, and thoro was a largo number of shareholders present. The report aud balance-sheet were road, and after a genoral discussion, wore unanimously approved. In the report it was stated that the directors were continuing t-lio policy of consigning to the Homo market. They had received during the year 13.891,7391bs of milk aud 53G,3151bs butter fat, which produced 616,98(i1bs butter. The total amount of £22,837 18s 8d had been paid to suppliers, giving au average prico of 10.2 d per lb of butter fat. ■', From Septembor ro November, 1906, per lb for butter fat was paid and'lOd per lb for the remaining months. The average test was 3.80 and 22.511bs of milk had produced lib of butter.

The balance-sheet showed a credit of £93'.) 10s 3d. It was [decided to write off £320 15s 9d depreciation aud pay a dividend of 6 per cent on paid -up capital, and a bonus of ijfd per lb of butter fat supplied by suppliers holding shares iu the company, aud carry the balance of profit and loss account to the reserve fund. The election of four directors resulted in the return of Messrs Perry, Dalton, Ehrhorn, and Cockburn. The Chairman advised suppliers to deliver clean milk, and that the milk should be carefully cooled as soon as drawn from the cows. The altering of the rules allowing shareholders holding less than 20 shares to be eligible for po&ition of director was discussed, and a meetingwill be held shortly to settle tho question.