DAIRY INDUSTRY

Wairarapa Times-Age, 15 July 1938, Page 3

DAIRY INDUSTRY

PAY-OUTS FOR SEASON. N.Z. CO-OPERATIVE COMPANY. (By Telegraph—Press Association.) HAMILTON, July 14. In a statement issued today by the general manager of the New Zealand Co-operative Dairy Company, it is shown that the total surpluses in the company’s profit and loss account for the 1937-38 .season amounted to £1,003,309, this including amounts due to suppliers to the company’s butter, cheese, milk powder, casein, and evaporated milk factories. The deferred payment to be made to shareholding suppliers to the butter department amounted to 2.1601 d, which would make the total payment to suppliers of the finest quality butterfat 15.1279 d, or, including cartage, 15.4464 d, and the average payment over all grades would be 15.0100 d, or, with cartage added, 15.3285 d.

Suppliers to the company’s evaporated milk factory would receive a further payment of 2.430 d, and there were also substantial deferred payments available in respect of casein and milk powder supplies. The payment to be made to butter and cheese suppliers included the increase in price recently granted by the Government, but did- not include substantial trading rebates. The manager stated that the increased prices his company was able to pay to suppliers were simply a reflection of the higher prices at which produce had been selling in the United Kingdom.