Mangorei Company Pays Suppliers 16d For Butter

Taranaki Daily News, 21 August 1942, Page 6

Mangorei Company Pays Suppliers 16d For Butter

A payment of 16d, nearly a fartliing loss than la'st year, and an improvement in the already high grade of butter, were rcl>01'ted at tlic annual meeting of the Mangorei Co-op. Dairy Co. Ltd. yestcrday, over which Mr. A. Hall. chairman oi directors. presided. Sixty suppliers were present \ further 77 supnliers, making 80 in all, were divertcd to neighbouring factories as a result of the drive for cheese, reducing butter output by 375 tons, or 30.12 ner cent., said the report. Climatic conditions were unfavournble, both for quantity and quality, and production costs rose lroni l.!)(S8d to 2.35d. Suppliers rcceived 13.9390 a lb butterfat, giving. with the tinal dis triliution of 1.93(3(1, 15.875d for the season. There would also he a further .134d a lb fat from the Government subsidy based on the increased costs caused by butterlat diverted to eheesemaking. Statistics, with lasl year's (igures in parentheses. included: Suppliers 2(37 (34(3); cream 3.044,1511b (1.917,6191b); test o9.o2 (39 43); fat 1,203,3341b (1,939,1371b I ; butter 1 465,2981b (2,361,2681b) ; average - grade 93 84 (93.829); cream grade perccntages. flnest 90.94 (89.3), flrst 8.74 (10.18), second ) 0.28 (0.22); butter exported 1.054,8441b! (2.199,2101b • ; local 410,4511b (102,0581b). The provision of transport for wliole | milk transferred to neighbouring factories ■ resulted in somc cream being delivered latc at the factory, affceting the grade, said , the chairman. Reviewing the balance- i sheet, he commentcd that the amount | writtrn off in depreciation was invested in Government stoeks. Mr. Hall emphasised the sound position of the company, and said that it was tbc objective of the directors to keep the fixed assets of the company somewhat ncar the value of the share capital. Directors, he said, had also followed the poticy of keeping the stocks of requisites up. It was unanfmously decidcd to pay 4 per cent. interest on paid-up share capital, free of social seeurity and national security charges, which would be cquivalent to ,905d a lh fat. Retlring directors. Messrs. Hall and R. H. Balsom, were re-elected unopposcd. Mr. A. J. Tunbridge was reappointed auditor. The chairman was voted an honorarium of £100. Mr. Hall was re-elected chairman of directors and Mr. R. Wood deputyrhairman. Afternoon fea was served by Mesdames A. Hall. A. J. Dodunski, N. MeL. Ross, R. Krutz, NV. Cavan and E. Balsom