“SUPPLY SOMEWHAT DISAPPOINTING”
HOKONUI SHAREHOLDERS ELECT DIRECTORS
At the annual meeting of the Hokonui Co-operative Dairy Factory Co. LtdMr D. Mcßae presided over an attendance of nine shareholders. The. chairman said that the supply had again been somewhat disappointing. The present supplies had continued to support the factory very loyally, but every effort must be made to get extra milk, as the success of the factory depended on a p’entiful supply. He was pleased to say that prospects for the coming season appeared to be brighter’ than they had beer, for some time. In spite of the small tonnage, the pay-out had been most satisfactory and the figure returned had been on a par with that obtained by much larger factories. The company owed a great debt to Mr R. McKissock, the late manager, and the suppliers were very pleased to see him obtaining such well-deserved promotion at Fortrose. The chairman extended a welcome to the new manager, Mr J. Ayres, who, he said he felt sure, would prove a very worthy successor. The three retiring directors, Messrs John Davidson, James Davidson and A. Galt were re-elected for a further term of three years, and at a subsequent meeting of directors Mr Mcßae was reappointed chairman. Mr D. Wildey tvas reappointed auditor.
BRYDONE
“A favourable production season was again experienced and the output of cheese shows an increase of 25;' tons, 365} tons being manufactured this season against 340 tons in 1938-39,” states the annual report of the Brydone Dairy Factory Company Ltd. “All dairy produce manufactured for export was again taken ov.er by the New Zealand Government under the Primary Products Marketing Act, the basic price for cheese being fixed at the start of the season at 8.42 d. At the date of our last report, the payment to suppliers for the 1938-39 season was estimated to amount to 18.4819 d per lb of butterfat, this being the actual amount paid. “The advance payments to suppliers for this season have amounted to 1/4 per lb for first grade and 1/3/ per lb for second grade, making an average to date of 15.9902 d. The unshipped stocks of export cheese have been taken into account at the Government purchase price for the respective grades, and the stocks reserved for local sale at 71d per lb. The appropriation account discloses a balance of £3027/9/3 available for distribution, which amount is equal to 2.3077 d per lb of butterfat. The directors have decided to make a further payment of 2 l-3d per lb as at the date of the annual meeting, which will make the season’s average payment 18.3235 d. A dividend on the paid-up capital of the company is not recommended. “The retiring directors by rotation are Messrs A. J. Townley, J. M. Archibald, and W. Coker, who are eligible for re-election and again offer their services. Reid and Jones again offer their services as auditors.”
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Southland Times, Issue 24229, 12 September 1940, Page 11
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485“SUPPLY SOMEWHAT DISAPPOINTING” Southland Times, Issue 24229, 12 September 1940, Page 11
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