N.Z. FARMERS’ DAIRY UNION.

Shannon News, 18 September 1923, Page 4

N.Z. FARMERS’ DAIRY UNION.

The thirteenth annual report of the New Zealand Farmers * Dairy Union,

Ltd., states that the chief feature of the satisfactory position disclosed is the large increase in the output of butter as compared with last year, the figures being 1,060 tons, for 1923, against 641 tons for 1922, an increase of 419 tons, or 65 per cent. All this new business had come quite freely, and the larger turnover had resulted in a corresponding saving in working expenses. The company had exported 37,132 boxes of butter, which realised an average of 177/4 per cwt in London, equal to l/4.4d per lb in Wellington. The average advance on whole fat was l/5.01d, and on whey fat 12.63 d. Prices in the Dominion for local consumption ruled about 1/7 for the season, and this gave better results than in the Home market; also, sales for Australia were satisfactory. However, as the company’s output was so large

it had to ’export by far the greater portion of the ‘'make,” and this had resulted in a lower average net return than would have been the case had it been able to sell a larger proportion at the higher local rates. The surplus available would permit a further payment of about Id per lb after allowing for the usual dividend. The directors liecommend thatl this course be followed. .The directors to retire by rotation were, Messrs J. A. Nash, M.P., and Herbert Freeman, both of whom, being eligible, offered themselves for re-election. The retiring auditors, Messrs Wiloerfoss, Anderson, Hayward, and Harden, also offered themselves for re-election. No further nominations for the directors were received and therefore the personnel will again comprise Messrs J. A. Nash, M.P., H. Freeman, F. Maul, R. H. Stallard, and I. Parsons.

Under the heading of Manufacturing Account, the following outgoings are, inter alia, listed: Butter-fat advances £137,236 11s 2d; butter materials, £5,127 16s Hd; wages £5,351 15s; manufacturing expenses, £3,125 8s 9d. Receipts under the same heading include: London sales £142,170 Is 4d; local sales £24,782 14 s 3d; butter «tocks on hand , £2,701. The profit and loss account discloses a credit of £10,971 13s 6d.