DAIRY FACTORY COMPANIES.

Taranaki Daily News, Volume LI, Issue 198, 11 August 1908, Page 4

DAIRY FACTORY COMPANIES.

ANNUAL MEETING'S. OKATO AND I'UNIHO. (From Our Own Correspondent). At the annual meeting of the Oka to and I'uuiho Co-operative Dairy Factory Company, Ltd.,lhere was a large attendance of shareholders, Mr Newton King (chairman of directors) presiding. The directors, in their annual report, expressed pleasure that, notwithstanding the reduced ijuanfity of bulier made they could still congratulate shareholders on the position of the company. The following jtalislics were afinched to the report: The (|tianlilies of milk and butter-fat handled weie as follows:—Factory 3,71i3,3ul lb,' of milk, 14:i,!U7 His o'l liutler-fat. average test 3.82. I'uuiho Creamery, 2,U-!3,lill Hi, milk, 1117,132 Ins butter fat, 10-.t3.iM, Oxford iload Creamery 1,5U2,(i!13 lbs of milk, 5!>,5.32 lbs but-ter-fat, test 3.75. The amount of butler made was 34K,4771h5; over-run 12.U11 per cent.' 'the amount to credit of profit and loss account at the end of the year was l!U8 Ills. 2d. out of which CI2O His. lid.had been written oil' as depreciation of properties and plant, leaving a balance available for distribution of £71)7 Lis. 8d.,0nl of which the direc-

tors proposed that interest on fully paid shares be paid at the rale of .1 per cent per annum I til 15s. Id.); that a further payment of '/id per lb. butter-far. absorbing C 1147 Ms. 3d. be made, and that the balance of .Clnj 4s. -Id. be carried to ll cxt year's accounts. The further payment for Jjultcr-fat proposed would make the payment for the vear 1().'23-ld. per lb. Having regard to" the value at which the properties, plant, etc., stood in the books of the company, the directors had charged the expenditure on the race and dam to capital account, and considered that with the provision of 5 per cent depreciation made and the increased amount, charged during the current year to working account as repairs and renewals, ample provision had been made in this respect. During the year Mr. A. Corbctt from the. directorate and the directors appointed Mr. W. Greeuway to act as a '. director until the annual meeting, wh'tl he and Mr. Knight retired from the .. Board. Number of suppliers, 01, milk received ! 5.2!)!1.125. average test 3.7lo'pcr cent, overrun 12.0' a per cent., liullcr-I'al re-

cciml 3Hl.:llillbs.. butter made 315.177 lbs., milk lo make lib butter 23.521b5„ average price (N.Z.) received for butter 10.1ii1., average cost of manufacture, including insurances, interest, repairs, atel depreciation. 1.1 llld..cost of manufacture from milk to delivery, iucludingnli marketing ami annual expenses 1.11'0i1., average" price netted per lb. of butter !U3il., average price per lb. butter-fat paid to suppliers l».23l(l., average giU'V exnorl, season IW7-S, !)2.«.

Tin' report iinil balance-sheet and ]■•!• commendation of the directors weie adopted. Messrs \V. Crcciiway, I'. OSullivai). iiml Wooldridgc wore nominated for the directorate, and the first two wort: elected. Mr. K. P. Webster was re-elected auditor. A resolution was passed authorising; tlie. directors to register under tlie Cooperative Dairy Companies Act, 1!H)7. 11ILLSBOKOUCII. Tlie annual meeting of .the Hillsborough JXiirv Company was held on Holiday, 3rd August. Mr. 11. C. Sampson, fhairman of directors, presided. Tic season's output was consigned through Messrs. Collelt and Co.. and ]iy = d net', was rel.iiriK'd on tlie Home shipments one consignment, fetching as mueh as l")-|s. Il look an average of ±2ll> of milk li. make a pound of butter, the overrun was 11.4.*) per cent., and the average test 4.iili. The old refrigerator account has hcen coninle'.cly written oil' by suppliers' contributions from milk account, and during the year a new Humble refrigerator lias been put in. the old machine having 1 n taken as pari payment. After writing off a considerable sum from the properly and plant account for depreciation, iho'proiit and loss account showed a credit balance of C3iT Ills id. Five per cent, was paid to supplying shareholders on capital paid to 3Mli .1 n n»-, IW7. and .a further payment of |i/ s ,| per lb of • lniltor-fat, sirfrpKiM. Messrs. 11. (". Sampson and T. Siiiclik were elected directors. Mrs K. 11. |<c;i----j-on very kindly provided afternoon tea. Mr. Sampson, was elected chairman of directors.