N.Z. FARMERS' DAIRY UNION.

Taranaki Daily News, Volume XLVII, Issue 8163, 24 July 1906, Page 2

N.Z. FARMERS' DAIRY UNION.

LATEST TELEGRAMS.

A MJC'CfiSSFUL YEAR. V PEH I'HEfS ASSOCIATION. Wellington, July 23, Tho annual report of the New Zea. and Farmers' Dairy Union shows that •ew slum's have been taken up siVa -he beginning of the year to no less a number than 480 share,, representing il-00 of new capital being subscribed. The result of the year's working is that i larger amount is availab.c for distri. mtion than in any pre-.ious year oE the company's existence, and this not. \ withstanding that larger advances were paid out each month than last year. This has been brought about chiefly by the better prices prevailing, both at dome and locally, but also yery largely oy the considerable reductions in work, mg expenses. The directors reoom. mend that the surplus be divided imong those suppliers who hold their ,-ight proportion of shares, according to he quantity of butter fat supplied, at sho rate of $d per lb. on the total for she year. The directors, seeing that the high prices ruling in London were inducing most other companies to con. tinue shipping much later in tho year wisely refrained from following the" same policy, and stored a much larger , liiantity of butter in New Zealaud < than is their usual practice. The re<ult is that owing to very few com" panies holding stocks, the Union now has the satisfaction of selling nearly LOO tons at a price equal to 123s in London. Suppliers to tho Dairy Union mil thus reap a considerable benefit by this fortunate circumstance. The luantity of butter manufactured dur. \_. ing tho year was 851 tons. The baku'cc-sheet sko «'s a surplus of miQ. Advances to supples for the year have been; August, September October, May and June, Bd, and for tie intervening months BJd. It has | ueen resolved to pay lo|J f or July and August.