MAKETAWA DAIRY CO.

Taranaki Daily News, Volume LV, Issue 116, 2 October 1912, Page 4

MAKETAWA DAIRY CO.

Annual meeting.

The annual meeting of shareholders in tiia Malcetawa Co-operative Dairy Company will be lrcid at the M<|teUwa, factory on Monday evening next at S p.m., when the seventeenth annual report \yill be presented as follows:—Tk» milk received was 5,848,0041b, a>d advances have bo en made on 232,2ft,6»41k of butter-fat. Butter made amounted to 266,6121b —119 tons 0 cwt 1 qr 24 lb. Ik took an average of 21.011b of milk to make lib of butter., Each lib of butterfat—l.l4Blb of butter. The averago test was 3.970. Acting on a r-csolution passed by the sltoreholders at the Arinual general meeting on October 7th,. 1907 by which th'e Reserve Account wa* limited to £3OO, the directors 'had trans- ■ ferred 'the sum of £lO7 lis 2d from that account to surplus account. Out of th« surplus of £1320 5s lid, tlw director# proposed to pay a furtlner 1.36 d per lb of ,butter-<fat supplied during the season—£l3l6 Is 7d, and to carry the' balaaoe forward, Suppliers would then have received equal to 11.90 d per lb of butterfat for' the season. The cost of running the Durham Road Creamery had been apportioned in .the manner as approved by the shareholders on August 22nd,1010, and had been charged to the individual suppliers accounts. It would be necessary to elect three directors, two in place of Messrs. Ileal and Hall, who retire by rotation, and one in place of Mr. Jones, who has resigned and also to appoint an Auditor and to fix his remuneration.

The balance-sheet shows receipts to have amounted to 9s'9d (made up of butter sold and in stock £12,864 8s Od, butter-milk £23 3s 6d, and milk testing 18s 3d), The principal items of, expenditure were advances to suppliers £10,252 lis 2d, manufacturing expenses (including wages, factory £3Bl Is 4d, 'creamery £122 15s 4d fuel, factory £135 15s 2d, creamery £4O 5s 4d, requisites £313 14s 7d) £IOB4 2s, selling and administration £507 17s 4d and depreciation £147 2s !>d. This leaves a balance to surplus account of £920 16s 6d, which with contributions to creamery working from factory £ll3 3s Id, creamery £139 6a Bd, transfer from reserves account £167 lis 2d. Freezing works profits £3B 14s Id, etc.. leaving a balance in surplus account of £1320 5s lid, which is dealt with in the report. In addition to the ordinary business, notices of motion are tabled for discussion to consider the alteration of tlwr date of the annual meeting from Ohe first Monday in Go to her as at present, to August of each year, on such day and at such place aa may be from time to timo determined by the directors. If this is carried a further resolution will be submitted ending the company's year on tit* 30th day of June, instead of the 31st of August, as at present.