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DAIRY COMPANY MEETINGS.

KAUPOKONUI. ' }; axxual kepout ... Tiic 21st annual report and balance sheet to 1.0 presented at the meeting on September 2 alludes to the fact that tlie company has attained its majority and is in a condition of stability of which the members may well be j proud, and a monument to the policy which I has guided tho affairs of tlie company since | its inception. Properties and plant costing £05,111 14s Cd had been reduced by redemption account to £37,079 10s ">d, in spit;: <,l" tho fact that two of iho largi-st factories—Kaupukonui and Auroa —Usui been rebuilt In concrete, and other two of tho factories—Kapimi and Skeet—had been partially rebuilt iu concrete. Tlie reserve fund had steadily grown to £IG,77U 'la yd. mainly through agencies outside of tho milk monies, and the store with its turnover of £111,378 4s lid, and its nett profit of £<1477 18a sd, was a business to be proud of. . The articles of association had been altered, enabling the directors to deal in a more equitable way with the profits from tho store'business by issuing shares, and it was proposed Id rebate to qualified shareholders £2370 .amounting probably to 5 per cent, on their to- ' tal purchases for the year in i'ully-paid-up shares, bearing interest at 5 per cent., and to i carry to reserve the balance. | Tho store business had grown fcince 1913-14, when tho sales amounted 10 £33,209 18s lOd, and profits to £J2t>o 18s id, to sales amounting to £01,378 4s lid, and profits £4477 IBs sd. The profit and loss account allowed a surplus, alter allowing £I9BB 14s Gd for depreciation, of £67,383 Gs 10d, of which £28,295 19s had since been paid to suppliers, leaving £39,087 7s lOd, out. of which it is proposed to pay Interest on shares, 15 per cent., amounting to £IO2O, and further payment lor butterfut of £30,374 10a fid. These payments, together with the distribution of store profits, will bring tho total payment for the season to 22Vtd per lb,, and leave £1092 17s 5d to bo carried forward. This payment on a 3.9 test is not likely to bo beaten by factories similarly situated. The cow-testing has been continued with good results. On tho subject of testing it is interesting to note that our average test is as usual tho highest in South Taranaki, and whether it is owing to better cows, better suppliers, or better methods, the fact remains that we arc paying on a 3.9 average. The difference in value between a 3.9 and a 3.74 test is approximately one penny per ib of fat. It will thorefcro be seen that lest must be taksn into account in making comparisons of pay-out between different factories. Statistic*. figures in parentheses being for the previous year.—Milk, 58,198,1001bs (54,7G4.3D7lbs) ; buttorfat, 2,275,29811)9 <2,127,9711b5) ; cheese, 5,023,07411)3 (r#,3C7,9701b5) ; creamery butter, 44,1i931hs (3S.l3Cdbs) ; whey butter, 108,472!bs (i)t>,992lbs) ; c'c:eno to fat, 2.52 (2.50) ; milk to cheese, 10.17 (10.04); average test, 3.909 (3.85).

Permanent link to this item
Hononga pūmau ki tēnei tūemi

https://paperspast.natlib.govt.nz/newspapers/TDN19180831.2.5

Bibliographic details
Ngā taipitopito pukapuka

Taranaki Daily News, 31 August 1918, Page 2

Word count
Tapeke kupu
495

DAIRY COMPANY MEETINGS. Taranaki Daily News, 31 August 1918, Page 2

DAIRY COMPANY MEETINGS. Taranaki Daily News, 31 August 1918, Page 2

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