FARM AND DAIRY.

Taranaki Daily News, Volume LVI, Issue 78, 21 August 1914, Page 3

FARM AND DAIRY.

aiAXGATOKI OOMi'ANV. The fourteenth annual report ami balance sheet to be presented at the annual general meeting of the Mangatoki Cooperative Dairy Company; Limited, is as follows-.T In presenting the fourteenth annual report and balanea-shcet your directors have to report a satisfactory year's •work. Altogether, 26,860,2221b5. of milk.yielding 9tio,lß3lbs. of butter fat, were received, of which quantity 106,4428>5. were manufacturel into butter, yielding ;125,7101bs of commercial butter, and the balance of jnilk, representing 853,7411bs of butter-fat, was manufactured into cheese, yielding 2,229,278 lbs. of commercial cheese, and 44,03211>5. of factory butter, or WSo tons 4e\vt lqr 31bs of commercial cheese, and 76 tons Ocwt 3qrs 231bs of ibutter. After writing off £1055 18s 4d for depreciation there remains a surplus of £3470 Os 3d to be, dealt with. Yeur directors recommend that a dividend at the rate of 5 per cent per annum be paid on all paid up share capital, absorbing £456.9s 4d, leaving £3013 10s lid to be further dealt with. Yourdirectors recommend that this amount be paid out pro rata to supplying shareholders, allowing one-halfpenny, more per lb of butter-fat on, milk supplied for cheese manufacture than for milk used for the manufacture of butter. The balance-sheet shows liabilities amounting to £23,137 16s 6d, and assets totalling £20,607 'l6s 9d, leaving [a credit balance of £3470 0b 3d. The working account shows that £48,009 3s was paid for milk, £4012 7s lid to the charges account, £3402 'l»s 4d for wages, £1065 18s 4d marked off for depreciation, etc., amounting to £59-090 9s 4d. The receipts included £8238 10s 9d for butter, £54,076 3s lid for cheese [and other items, and totalled £62,560 9s 7d; the credit balance being £3470 0s 3d. ELTHAM COMPANY. The annual general meeting of the Eltham Co-operative Dairy Company, Ltd., was held on Saturday. There was a large attendance. of shareholders and | Mr. H. D. Foreyth, chairman of directors, presided. The annual report showed that during the rear the company had received— For butter-making: Milk, 3,687,7711b?; •Uratterfat, 138,118.904n5.; average test, 3.72 per cent; butter, 105,7fiSlbs.—-.-* tons 17cwt, 3qrs 16lbs. For cheese-mak-ing: Milk, 41,8«3,0811to; butter-fat, 1,50025.671b5; average test, 3.74 per cent; cheese, 4,1«8,:i411'b5;-18fi9 tons If) cwt. 3qrs 1711)8; cheese to HI) butter-fat, 3.811b5; milk to lib cheese 9.97H)5. During the season Vid was paid for buttei'fat for cheese-making, and 11.34 d for ibutter-fat for ibutter-making. / The bal : ance in hand made it possible for the directors to make a further payment of Id for butter-fat for cheese-making and .36 for butteiifat for butter-making. Three, directors had to be elected in the place of Messrs Knueky, Macvcan, and Pennington, who retire in rotation, but who are eligible for re-election. Mr W. .T. Tristram hrfd signified his willingness to again act as auditor. The balance-sheet showed that there was a credit of £71123 9h 9d. i The chairman, in moving the adoption ■of the report and balance-sheet (which was adopted) congratulated the shareholders on the. very satisfactory position the 'company occupied. As to tic assets, thev had made a very liberal depreciation 'right through. Then; Eltham properties were valuable and they.had allowed a very safe amount tor depreciation. They had made considerable progress-.luring the. past season, and .ir, believed that they w«ve still going «. Increase I,v a very decisive amount. Tm vears was hard to guage on account ot the war. but he believed that the prospects were good. Referring to the price, of last season, he .said that they we e rather disappointing, perhaps owing <> the strike. The fact that their produce as held up for live weeks had something to do with it. Concerning the W there were only -four out «f »f ■ Lru's which graded at Moturoa tl.it w re letter than Kltham. As to nc pa ■ Nation, although the Dairy -; sioner was not at preset t pieman a i Cimne,.<l the paste,.rising o jmlk for cheese, be (the chairman) was ox opinio, that the time was r.pe lor .t.