DAIRY INDUSTRY.

Waikato Argus, Volume VI, Issue 382, 14 January 1899, Page 3

DAIRY INDUSTRY.

The followiug report of the Riverdale Co-operative Dairy Factory for the year ending 21st August, 1898, has been handed to us for publication : The fourth annual report aud balance sheet is now before the shareholders, and in presenting it the Directors congratulate the shareho'dera on the sound financial position maintained by the Company. The capital account stands at £1364, equalling the amouat debited to the property account, after making provision for depreciation amounting to £7l b's lid, the property being again free from debt. The amount standing to the credit of the reserve fund is £2lB 4s. The total quantity of milk received at the factory was 5,085,6731 b; the actual average test was 3 07, producing 186,8971 b of butter-fat, against which the sum of £5813 lis has been advanced to suppliers, and it is proposed to pay a further }d per lb of butter-fat for the whole Beason = £194 13s Bd, making a to'al of £6OOB 4s Bd, equalling 7'7ld per lb butter-fat, or 31 Id per gallon of milk for the whole season. Your Directors regret to report that the state of the cheese market at Home has been deplorable, the surplus from aoconnt sales of 1460 cases of dice o shipped to London being only £32 7s sd, as against £IC9S 7s 7d received last season for 1900 cases cousigued to London. The profit and loss account, after writing off the sum of £7l 6s lid for depreciation, shows u surplus of £328 10s 9d, which your Directors recommend to 0/k be apportioned as follows :—Payment of -I-d per lb butter-fat for the whole reason = £194 13s 8d j a dividend of 8% >n folly pr.id shares = £lO2 7s lOd : and to place the balance of £3l 9s 3d to the credit of the property account. The services of Mr Jas. S. Laidlaw' have been secured for another year. Shareholders are asked to appoint two Directors, Messrs Betts and McKay retiring by rotation. An Auditor has also to be appointed ; Mr Benporath again offers his services. \V. Dingle, Chairman. John V. Wsiiorx, Secretary.