MAKETAWA DAIRY COY.

Taranaki Daily News, Volume L, Issue 60, 11 October 1907, Page 3

MAKETAWA DAIRY COY.

The annual meeting of the above con pany took place at the factory on Moi day evening, when there was a goo muster of shareholders. Mr J. BrowJ chairman of directors, presided. The annual report stated that tli milk received was 6.643,19211), and ail vanees had been made on 250,008.3381 of butter fat. Butter made aniounte to 20."), 1711b, an increase, over the pre vjmis year of 3(i,0501b. It took i\ average of 22.a1h of milk to make lib o butter; each lib of butter fat 1.141 bo butter. The average test was 3.0. Ou of the wurplus of £531 3s lid, th directors proposed to pay a furtlie 12-25ths of a } nny per lb of butter-fat absorbing £5lB 2s Bd, and to carry tin balance forward. Suppliers would thei have received 10.300(1 (nearly 10 2-sd] per lb of butter fat for the season. The balance sheet was adopted. Tin chairman said it was a greit pleasure to be able to report so prosperous a sca.-mi as the one just closed. It was generally said that the coming season would be a bad one for butter, but it reiiliy had turned out better than aniieipatcd. The directors authorised him to arrange the sale to the best advantage, and he had succeeded in selling their output lip to the end of Nove';ib?r for 10Vi>d per lb, and the rest of the season 10% d, and he thought he was right in saying that there was only one company which had exceeded that figure, and that was a sale through the whole season at just closed the cost of manufacture had b""n lightly less than during the previous season, which was, to thought, due to two causes, first, the increased supply, and secondly, to the increased over-run. The cost of manufacture had been, f.o.b. breakwater, without de-preciation—butter-fat, 1.32(1 per lb; butter, l.lfnl per lb; with depreciation—butt"? 'it 1.4 d per lb; butter, 1.2 d per lb. '■ It.' average proceeds of the butter exported was 10.38, and of that sold locally 1(1.34; the cost of furl had been 25s per ton of butter. The question of the disposal of the reserve fund would be for them to consider; a portion of it was that distributed by the Freezing Company, some was premium on shares, ami some for amounts on transfers. The three retiring directors were unanimously re-elected. Five men were nominated for the vacancy caused by the retirement of Mr. J. E. Bennett, when Messrs. Marshall and Simpson tied, and the chairman gave his easting vote for Mr. Marshall, explaining that he did so on account of Mr. Marshall having belonged to the company since its start, while Mr. Simpson had not. Mr. M. ITopson was re-elected auditor at the same remuneration as last year. With reference to the reserve fund, it was resolved that it be a recommendation to the directors to limit the reserve ;o £3oo—Record.