KAIPARA DAIRY CO.

Auckland Star, Issue 154, 2 July 1934, Page 4

KAIPARA DAIRY CO.

PAYMENTS LAST SEASQN. The 23rd annual report of the Kaipara Co-operative Dairy Co. shows that output of butter last season was practically the same as in the previous year, being 2618 tons, which was half a ton lower. Referring to the price of butter, the report states that the highest value recorded was 109/ per cwt last September, and the lowest was 65/ in January, oPayments during the season had been as follow for finest grade: June, July, August, lOMsd per lb; September, lOd; October, 9d; November, 7%d; December, January, and February, 6d; March, 6Mid; April, 7d; May, 7%d. i There was a balance for distribution at the end of May of. £25,202, which, after provision for a dividend at 4 per cent on paid-up capital (£920), the directors proposed to allocate thus: A further 2d per lb on December foutterfat to be paid during June; a further J Ad per lb on November and December, and 2%' d oil January, to be paid in July; and a further payment of 2%d on February and March, 2%d on April, and 2d on May, to be paid in August. With the addition of these payments, the average butterfat payout over all grades will be 8.9 d, with a dividend of .05d added, a rebate on purchases of ,08d, making an actual monetary payout of 9.03 d, -which with cream cartage and railage added is equivalent to 9.43 d per lb at the farmer's gate. During the year 11,958 shares were allotted, 1148 were resumed by the company, and 1193 were forfeited. The directors are making a call of 1/ per share on all shareholders having unpaid shares, this call being payable in August. The annual meeting of the company will be held on July 26. The directors record with regret the death of Mr. T. Loughman during the year. The directors retiring this year are Messrs. D. R. L. Balderston, J. Hand, and A. Wintour, who are eligible for re-election. Mr. Jas. Drinnan has resigned after 18 years servicc.