RECORD SEASON

Waikato Times, Volume 127, Issue 21177, 29 July 1940, Page 9

RECORD SEASON

DAIRY COMPANY WARTIME PRODUCTION ENDEAVOURS OF SUPPLIERS ESTIMATES OF PAY-OUTS A record season from the point of view of production is reviewed in the 21st annual report of the New Zealand Co-operative Dairy Company, Limited, to be presented at the annual meeting of the company on August 16. “The substantial increase in the tonnage of products manufactured by the company,” states the report, “was due to a large extent to the continued loyal support of the suppliers, coupled with the very favourable climatic conditions which obtained during the greater part of the season. A portion of the increase is due to the supply of the Raglan Cooperative Dairy Company, Limited, which by arrangement with that company was purchased at the beginning of the season. “The effort made by suppliers to increase production on account of the war has also contributed to the improvement in last year’s total supply. In urging suppliers to make every effort to increase production to the fullest extent possible during the coming season, the directors recognise that difficulties exist and others may arise, but they trust that by practical co-operation and mutual assistance these will largely be overcome, so that suppliers may make their maximum contribution to the drive for increased production. “Prices realised for produce have, where these were not fixed at the outbreak of hostilities, shown increases. It is a matter for regret that while prices obtained for butter and cheese have remained stationary, costs of production have increased. “The guaranteed price plan for butter and cheese will continue during the coming season. Output of Commodities “The output of commodities by'the company was as under* —- Tons Tons 1038-39 1939-40 Butter • 46,134 50,56® Cheese 9.626 14,569 Ceeein 1,156 6 Milk powder and •tiled products .. 7,557 ?-546 Condensed milk .. 1,515 1,924 For the same years the following table shows the total value of the property and plant, and also capital issued and paid-up:— 1938*39 1939-40 £ £ Land. building's „ , and plant .... 863,356* 853,769* Issued capital .. 1,281,737 1,288,991 Paid-up capital 1,199,263 1,210,682 •Excluding colliery. Standard of Quality “The high standard of quality of the products manufactured by the company has been maintained during the season and every effort will be made to obtain further improvement in the future. The manufacture of produce of the highest quality possible is essential to obtain the full benefit of guaranteed prices, and the directors anticipate with confidence that co-operation between the suppliers and the company will continue to maintain and improve the standard. “The buildings, plant and machinery owned by the company have been maintained at an efficient standard and are in excellent condition throughout. The cheese factory at Hikutaia was destroyed by fire on April 1, 1940. It has been decided to replace the factory, and a new building of modern design is in course of erection. The colliery has been worked during the season under difficulties beyond the control of the company. Some difficulty was again experienced in obtaining railway transport to meet orders promptly. “The New Zealand Dairy Finance Company Limited has continued to meet all reasonable requests for financial accommodation and has been of material assistance. The facilities for land mortgage assistance by the N.Z. Dairyfarm Mortgage Company Limited, to the extent to which these have been available, have been made use of by suppliers. Payments for Butterfat “The estimated season-average payments per pound of butterfat of all grades for the 1938-39 season as quoted in the annual report and bal-ance-sheet for that season and the actual payments made are as follows: Estimated payment. Actual payment, d. d. Butter .. 16.2602 16.2602 Chewuj .. 18.445 8 18.4458 casein .. .2432 .9432 “Butter and cheese unsold at the close of the season have been valued upon the basis of export grading points on entry into cool-store, with appropriate allowances for premiums and discounts according to the grading. The season-average payout a pound of butterfat (all grades) which it is estimated will be made for the 1939-40 season is 16.3977 d per !h butterfat for buttermaking; 18.5929 d per lb butterfat for cheesemakinf,: and 1.2379 d per lb butterfat for casein-making, in addition to the payment for buttermaking. “The total amount of the creamcartage costs incurred by suppliers individually is £2832 13s 7d, which represents ,0073 d per lb on the total number of pounds of butterfat received by the company in cream from all source". The quantity of butterfat so affected was 2.6820 per cent of the total supply received. “Miikpowder suppliers have received, in addition to the butter advance, premiums for skim milk. The balanoes in the respective milkpowder profit and loss accounts for the season will not be dealc with finally until a quartity of powder equivalent to the ‘make’ for the season has been realised. The buildings and plant at th' miikpowder factories have been kept in a satisfactory state of preservation and efficiency as a charge to working expenses. Mr R. H. McKenzie’s Death “The directors desire to record ffieir deep regret at the loss sus-

tained by the company and the dairy industry in the death of the late Mr R. H. McKenzie, chairman of directors of the company. Mr McKenzie had been closely associated with dai lying over a long period of years, and his wide knowledge and experience and sound judgment in matters pertaining to the industry had been given freely for the benefit of the suppliers and the company at all times. The directors extend the sincere sympathy cf the suppliers, the beard and members of the staff to Mrs McKenzie and the relatives of the late chairman in their bereavement. “The directors regret also to report that a serious disaster occurred at the colliery on September 23, 1939, as the result of which eleven of the leading mine officials and employees lost their lives. The sincere sympathy of the directors and suppliers is extended to the widows j and relatives in their tragic loss.”