N.Z. CO-OP. DAIRY COMPANY.

Auckland Star, Volume LVI, Issue 183, 5 August 1925, Page 7

N.Z. CO-OP. DAIRY COMPANY.

BONUS THIS MONTH.

PAY OUT TO EXCEED £550,000. '

(By Telegraph.—Own Correspondent.)

HAMILTON", this day.

Mr. W. Goodfellow, chairman of directors of the New Zealand Dairy Gompany, elated to-day that a bonus payment, exclusive of all deductions, will be made to suppliers of "the company at the end of this month, although approximately 4000 tons of butter remain to be sold. The net butter department bonus pay-out will amount to over £500,000, and the cheese bonus to over £50,000, apart from share deductions. The average advance price paid for all butterfat received during the year ending May 31, 1925, was l/2.75d. The average price paid for all superfine butterfat during the same period was l/2.86d per lb. With the bonus payment added the above average price will be increased to l/e|d per lb. and the superfine to l/6}d per lb. The cream cartage subsidy cost .18d, and railage on cream .07d, making a farthing per lb. butterfat for cartage and railage of cream to the factory. Therefore, for comparative purposes, the price paid by the company for the past year for all superfine butterfat at the factory will be 1/6Jd per lb. These figures, Mr. Goodfellow remarked, were subject to minor adjustments, but were substantially correct. Mr. Goodfellow, commenting on "electioneering tactics" said he had more t» do with the building up of the present company, than any other individual, and he now considered it his solemn duty to warn shareholders that they could very easily destroy in a few weeks, what it had taken several men 25 years to build. If they did, who then would fix the price of butterfat, and who. also, would fight the suppliers' battles in London? The company was well organised and well managed; why not leave well alone? Further, there could be no absolute control of butter and cheese in Xew Zealand without the eolid backing of N.Z.C.D.C, aad this could only come from a united board.