SHANNON CO-OPERATIVE DAIRY CO., LTD.

Shannon News, 12 August 1927, Page 3

SHANNON CO-OPERATIVE DAIRY CO., LTD.

The annual meeting of shareholders of the above company will be held in the Druids' Hall to-morrow (Saturday) at 12.30 o'clock. The directors' report which Avill be presented to the meeting, .states that the butterfat payment for the year, though 2£d less than was paid lastvear, will probably compare favourably with that of most other dairy companies in New Zealand. The quantitv of butter manufactured for the year was 762 tons 14 cwt. 3qrs olbs, an increase on the previous year of 21 tons. The average monthly payment to suppliers for butterfat supplied was Is 2.95 d. Provision is made in the balance sheet for a further payment of 2d per lb on the season, the total average for the year being Is 4.95 d. It is the intention of the Company to pay of this on the 20th August, and the final M probably on the 20th September. The average grade was 93.82. • The store sales were £27,185 15s sd. The gross profit was £2821 13s 6d, and after deducting wages £1,286 18s 4d, store freight £BOB 6s 3d, insurance £7O, interest £SO, cartage £l5O, and general expenses £2Bl 9s 3d, a nett profit of £174 19s Sd is shown. The amount to credit of Profit and Loss Account as shown on the balance sheet, is £1,718 8s .10(1. Out of this amount it is proposed to pay. the usual 6 per cent, dividend and carry the balance forward.

The two retiring directors are Messrs R. W. Taylor and W. E. Barber, who offer themselves for re-election.