Patea Cool Stores Handle Reduced Dairy Produce

Taranaki Daily News, 25 August 1942, Page 5

Patea Cool Stores Handle Reduced Dairy Produce

A profit of £187, in spite of a reduction of 8026 tons in the dairy produce handled, was reported at the annual meeting^ of the West Coast Refrigerating Company Ltd. at Patea yesterday. The company handled 54,542 tons of cheese and 1145 tons of butter, a total of 5o,687 tons of dairy produce. , ^ After making full provision for charges accruing on unshipped produce and providing £1971 for depreciaUon the year s operations showed a profit of £18 1 lbs za, which was transferred to the appropnation account, stated the report. There was a decrease in tlhe produce received, compared with last year, of 590 gross tons. There were 280 crates of cheese, or .07 per cent.. less and 20.411 boxes of butter, or 44.68 per cent., less. An improvement in the company s affairs was indicated by the liquidation of the bank overdraft and the reduction of £2352 in the excess of current liabilities over liquid assets, reported the secretary, Mr. G. W. Corbett. Apart from the variation resulting from depreciation and saies, .fixed assets were the same as last year. Although total expenditure was less by £939 working ' costs increased from 4s 8.67d to 5s 0.79d a ton because of the decreased tonnage handled. After deducting the rebate the average cost for all storage and wharfage charges amounted to ls 3.37d a crate and 9.385d a box. compared with ls 4d and 9.328d respcctively last year, continued Mr. Corbett. Regular shipment of produce from the Dominion was again possible. Allotments on overseas ships were consistently filled. and of the 26.198 tons dispatched 23,612 tons, or 90.13 per cent., was shipped through Patea. Of the latter quantity 20,301 tons, or 85.97 per cent., was carried by ships of the South Taranaki Shipping Company Ltd. The posi♦irtn \xrAs most satisf aitory.

While the total running costs of the engine room department had decreased by £228 5s 2d, the cost per ton had increased from ls 4.23d to ls 5.59d because of decreased tonnage handled, said Mr. Corbett. The decreased tonnage handled also effected an increase in the cost per ton in the store from ls 9.53d to ls 11.24d. In spite of this the total cost of the store showed a reduction of £324 15s 3d. , „ The loss of £198 12s 5d on the branch was slightly greater than for the previous year, said Mr. Corbett. The directors decided to close the branch on April 30, the greater part of the buildings being leased fot 10 years. The remaining part, compriging the old engine room, was being reconstructed to provide freezing and ice cream factory accommodation. A 10-year lease would be entered mto. The chairman, Mr. F. Parsons, said the change from butter to cheese did not offect the company, because the produce handled by it was predominantly cheese. Labour and climatic conditions, however, affected the receipts considerably. Nearly all the 15,000 boxes of whey handled by the company were still in store, but within a short time it was expected all would be sent elsewhere for dehydration. Although the balance-sheet showed 37.000 more crates of cheese still in store than at the same time last year, there were now only 4000 crates. The Marketing Department and_ shipping authorities had done a good job getting the cheese away. The retiring directors, Messrs. H. E. Johnson and J. W. Snowdon, were reelected, and Mr. E. K. Cameron was reappointed auditor.