THE DAIRY INDUSTRY.

Auckland Star, Volume LX, Issue 181, 2 August 1929, Page 17

THE DAIRY INDUSTRY.

CAMBRIDGE CO-OP. CO. ANNUAL MEETING. (By Telegraph.—Own Correspondent.) CAMBRIDGE, Wednesday. The twenty-eighth annual meeting of the Cambridge Co-operative Dairy Co., Ltd., was held in the Town Hall to-day when Mr. F. H. Anderson presided over an attendance of 250 suppliers and shareholders. The report as previously published was adopted, together with the balance-sheet, which showed the company's affairs to be in the soundest position for fully a decade. In the course of a comprehensive review the chairman dealt with the season's pay-outs. The average advance for cheese was 1/6.086, and it was estimated that a further payment of 1.28 d would bring it up to 1/7.336. This pay-out would be increased by further realisations, and in the meantime the board had decided on a bonus of |d. The average advance .for butter was 1/4.77, and with a final payment of 1.86 d would bring the total pay-out to 1/6.63. Further realisations have yet to be made and a bonus of Id has been decided upon. Dealing with cheese manufacture the chairman said the premium offered at Home was not sufficient encouragement for .factories to concenrate on grade. Mr. Anderson said competition in regard to pay-out had led them all astray, but it was hoped that when sufficient experience had been acquired in the manufacture of standardised cheese, cheese factory pay-outs would be brought more into line. The quality of standardised cheese manufactured by the company was very good and on a dull market it realised almost the same prices as full cream cheese. The chairman referred with appreciation to the value of applied science to the industry, and more especially in connection with the bugbear of openness in cheese, and urged further extensions of science in dairying. In a lengthy review of market prospects Mr. Anderson was not optimistic about butter owing to greatly increasing production and tariffs in America and Australia. Despite these difficulties, and in view of conditions at Home he thought that cheese values would be similar to those of the past few years. The election of three directors due to retirement by rotation resulted:— Successful, Messrs. W. G. Care, W. Harbutt and J. W. Garland; unsuccessful, Messrs. F. Lye and H. P. Hewitt. Mr. W. G. Care, who topped the poll, is a new member, while Mr. Lye was an old member of the board. The meeting decided that £50 be donated to the earthquake fund. It was decided that no interest be paid on share capital. The directors' honorarium was increased from £500 to £600, and the auditors' fee from £84 to £100 per annum, Messrs. Lanson and O'Meara being reapppointed. Tributes were paid to the board on the fact that its joint and several with the Bank of New Zealand had now been wiped out.

BAY OF PLENTY. (From. Our Own Correspondent.) TE PUKE, this day. The Bay of Plenty Co-operative Association, Ltd., is making a supplementary payment on the past season's butterfat supply as follows: Jd per lb JulyDecember butterfat; January; fd February and March; l£d April, May and June. This brings the payment for superfine for the year up to 1/6J per lb. The unrealised portion of butter has been taken into stock at 1/4J per lb, f.0.b., equivalent to 170/ in London. The present price is 171/ to 173/. These payments are to be made to suppliers in cash. A dividend of 5 per cent will also be paid on paid-up share capital. The final payment and dividend will be distributed to suppliers after the annual meeting to be held on August 12. During the year suppliers have received advances for butterfat as follows: July to December (inclusive). 1/6 per lb; January, l/oi; February and March, 1/6; April, May and June, 1/SJ. The balance available for distribution is £7357 15/. The company manufactured 1505 tons of butter during the season, this being an increase of 193 tons on the preceding season, approximately 14.7 per 1 cent. i Market prices have ruled higher than for some years past, as satisfactory offers for f.o.b. sales were available. The major portion was sold on ship at Auckland, only 204 tons being sent forward on open consignment. t ■ - .. WHANG-ABEL * The Whangarei Dairy Company's payout for June is £4097, against £3873 last June. The total for the season is £190,289, against £142,984. TE AROHA. The butterfat supplied to Te Aroha Dairy Company for the month of June, 1929, was 57,8021b, an increase of 30 per cent on the total for June, 1928, of 44,5091b Payment was made on July 15 at tne rate of 1/5 per lb for first grade, net cash farm gate. - I hikurangi. (By Telegraph.—Own Correspondent.) WHANGAREI, this day. June, the first month of the Hikurangi "Dairy 'Company's season, saw 31 tons handled, the factory returning £4149 against 30 tons and . £3993 for the samemonth last year. The price in both instances was 1/5 per lb. Additional to the above pay-out. a further payment of lttd per lb on all butterfat supplied during 1928-29 season, and a dividend of 5 per cent on eligible, fully-paid shares is being made, absorbing £12,957.