DAIRY COMPANIES.

Taranaki Daily News, 6 August 1919, Page 3

DAIRY COMPANIES.

MELROSE. The seventh annual of the Melrose Co-operative Dairy Company, Limited, was held at Hawera on Monday. Mr T. Geary (chairman of directors) presided over a good attendance.

The yearly report, inter alia, congratulates shareholders upon .1 most • successful season. After writing off. ID per cent for depreciation of plant and buildings, the balance on hand will enable us tn pay out up to 2s o%d per lb on tho past season, and curry forward a small balance. Tho first season of the store lias also been quite successful, the profit on turnover showing at 4 2 per cent net, tho return on capital Invested being 11 per cent. This year's profits have been placed to a reserve Account. Mr J. Bloody has been re-engaged as manager x'or the coming season. The following statistics were attached to the report Pounds of milk received 2,128,917, pounds of butter-fat 76,092, pouuds of cheese made (93 tons, Ocwt, lqr,«llbs) 208,352, pounds of milk to lib cheese 10.21, pounds of cheese from lib butter-fat 2.73, average test 3.57 per cent., cost of manufacture (per lb cheese) 1.34 d. cost of manufacture (including depreciation) 1.52 d. Tiie chairman, in moving the adoption of the report and balance-sheet, auiu that although the company was a small one, he thought they were nearly at the top of tho tree in regard to the pay-out. If they continued to work together the company was sure to continue to progress. Much of the success had been due to the suppliers, who were Improving their herds, and also to the manager, who was a most careful man. Mr W. T. Wells seconded the motion, which was carried unanimously without discussion. The two retiring directors, Messrs J. Anderson and W. T. Wells, were re-elected. It was decided to take any milk offering from the Pokomoko people.

now In hand, which, when completed, will doubtless tend to more satisfactory working. The results disclosed by the accompanying statement, of > accounts : hear the' best. possible testimony to the good work of'your manager, Mr. Garner, whose ■ constant • efforts have been successfully directed towards furthering your interests.

From the balance of £11129 12s 4d, standing to the credit of the working account, your directors proposo to pay 4d per lb. on fat delivered by members throughout the war, and 4d per lOOlbs. on new milk • used In making casein, and a final payment' of Cd per lb. on fat delivered by North Tarahakl suppliers during the epidemic. ' Inclusive of Interest on share capital, members will have then received Is 8 l-6d per lb. for butter-fat over the whole year, and an equivalent of 3d per lb. on fat in jiillk used for casein, thus bringing the combined payment up to very nearly Is 11 %d per lb. Statistics Milk received. 5,203,497 lbs.; cream' received, 180,274 lbs.; butter made, 333,215 lbs.; fat. from milk, 211,622 lbs.; fat from cream, 67,731 lbs.; average milk test, 4.02.