TAUWHARE CHEESE FACTORY.

Waikato Argus, Volume V, Issue 363, 5 November 1898, Page 4

TAUWHARE CHEESE FACTORY.

The annual meeting of the milk suppliers to the above Factory was held at the office of the New Zealand Loan and Mercantile Agency Company (Limited), on Thursday last, when there were present :—Messrs Furze, C. Shaw, '• ** w » Richardson, Tiekelpcnny, Dodil, Hobbs, Ramsay and G. W. Sare.' Annual Report-and Balance-sheet, 1897-9 S annual report and statement of accounts as follows were taken as read : The total quantity of milk received was 1,623,3271 b,, containing 58,5001 b. of pure butter fat, the average butter-fat percentage of the milk, therefore, being 3"60. The total quantity of commercial cheese manufactured was 145,2931 b. The average weight of milk nsed to make each lb. thereof was 11*17 lb. The average weight of commercial cheese made from each lb. of butter fat was 2'481b. The total cost of manufacturing each lb. of cheese sold was l"05d per lb. The amount already paid to suppliers tor their milk is £1623 15s 2d, and adding the surplus available for distribution, £241 12s 3d, the total payment to suppliers equals 7'67d per lb. of butter fat, or 2'9OA for each gallon of milk supplied.— Liabilities : To New Zealand Land Association, Limited, balance due, £1074 3s Id ; profit and loss account, balance, £241 12s 3d; total, £1315 15s 4rl. Assets: By property, premises and plant, £1074 3s Id; stocks on handsundry material, £35 19s Id; cheese, £127 18s 6d ; N.Z. Loan and Mercantile Agency Co., Limited, £77 143 Sd. Total, £1315 15s 4d. Statement of Revenue and Expenditure : To milk account--payments to suppliers, £1623 15s 2d; charges account—wages, £22S 8s 3d ; cases, £Bl 16s 4d ; bandage, cloth, &c, £33 7s 7d; rennet, annatto and acid, £3l 9s 9d ; fire insurance premium, £l3 13s ; interest, £l2 5s 9d ; coal, £35 17s 8d; .salt, £4 7s su; cartages, £3B 103 3d; stationery, postages and telegrams, £4 l 128 3d ; depreciation of property, £65 7s 9d ; rent, £64 0s lOd ; sundries, £22 7s ; profit on year's working, £l9l 2s lid ; total, £2451 Is lid. By cheese account —cheese sold, £2213 3s 5d ; cheese on hand, £12718s 6d ; rent of piggery, £llO ; total, £2451 Is lid. Profit and Loss Account: To profit now available for distribution to milk suppliers. £241 12s 3d.—By balance at 30th September, 1897, brought forward, £440 6s 6d; surplus on estimated value, 1597 cheese, £49 9s 4d : less bonuses paid to suppliers, £439 6s 6d ; profit on working at September 30th, 1898, £l9l 2s lid; total, £24112s 3d.—We have audited the books of the Tauwhare Cheese Factory, and compared them with the vouchers, and have found them to be correct.— AbthttrFcrze, J. C. Hobbs, Auditors.— The following report of the auditors was also read :—ln auditing the accounts of the Tauwhare Cheese Factory we again went minutely into the details of cost of working, price of cheese, etc., compared with" other years, and again have to thank Mr Sare for the rery lucid way he put all the accounts, books and working details before us. We find that it took ll'l7lb weight of milk, as against 10'541b last year to make a pound of cheese, an increase of -631 b. We find that although the cost of making the cheese this year is higher than last year, it is altogether to be accounted for in the decreased supply of milk. If the same quantity of milk had been supplied this-year as there was last year the cost would have been about - S5 of a penny, against '92 last year, which would have left a farther surplus to be divided between the suppliers of £lO5, as it is the actual cost of making the cheese was 1"05 of a penny. We find that the cheese sold up to the present realised •3 of a penny more than last year, which we think very satisfactory. The total quantity of milk supplied to the factory talld short of last year by 384,7251 b, or 36,640£ gallons, or 15 tons lOcwt. 3qrs. and 41b of cheese, calculating at the rate of ll*l7lb of milk to a pound of cheese. This is a serious tailing off from last year, and wholly accounts for the decreased profits.— J, C. Hobbs and A. Furze, Auditors.— Proposed by Mr Dodd that the report and statement of accounts as circulated, be now approved and adopted. —Seconded by Mr J. Shaw.- Mr Sare said before putting this resolution to the meeting, I may say that I shall be pleased to answer any questions any supplier may desire to put, and generally to give'any further information to the meeting it may desire. Turning now to the statements, the first point to which I would call you attention is the great shortage in the supply of milk during the past season, viz., 384,7251 D., and I desire to show you how this shortage has adversely affected the results of the year's operations. It was, of course, due to circumstances over which you had no control, the drought experienced during the spring and summer months and consequent scarcity of feed, but it is to be regretted in that any lessening of our already small supply increases the ratio of the cost of making each lb. of cheese, and there is a consequent diminution of the divisible surplus at the end of the season. For example, had the milk supply last year been the same as that of the preceding 12 months, we should have been able to make some 32,7061 b. of cheese more than was actually made without materially adding to our working expenses account, and the handling ef this additional quantity would have reduced the ratio of expenses on the entire output of the factory thereby increasing the surplus by at least another £lO5, this sum being arrived at on the basis of the averages shown in the report and statements. The matter of supply, therefore, so closely affects every supplier that no argument is_ needed to show the desirability of each one doing his utmost to at least keep it up to the level of the 1896-97 season. I may also say that the Land Association are making arrangements to lay off other farms, which will be leased as opportunity offers, with the object of assisting you to that end. The total expenses are leas by nearly £IOO than in the preceding season, but in spite of this, in consequence of the short supply—due, as I have already said, to the drought—the average cost of making each pound of cheese has been increased. The factory output has been sold at a small advance on the price realised for the previous season's make. The quality of the cheese gives general satisfaction, and I would ask all suppliers, in the interest of each and all, to continue to assist the factory mauager to turn out an article that cannot be excelled, by seeing that their milk goes to the factory in order and condition, and properly aerated and cooled. —After a short discussion the resolution was carried unanimously, and the meeting then terminated with the usual vote of thanks.