RECORD PRODUCTION.

Auckland Star, Volume LXXI, Issue 156, 3 July 1940, Page 4

RECORD PRODUCTION.

MAUNGATUROTO DAIRY COMPANY.

(By Telegraph.—Own Correspondent.)

WHAXGAREI, this day,

With favourable climatic conditions principally responsible, the output of the Maungaturoto Dairy Company last season was a record. The total was 1274 tons or 132 tons more than in the previous season. The directors' report to be presented at the annual meeting on July 24 states that the quality of output has bean maintained. The average grade for the season was 94.341, against 94.484 for the preceding season. The appropriation account showed a surplus available for distribution amounting to £21,616, and the directors will recommend a payment of 2.25 d per lb on all butterfat received. This will absorb £21,966, leaving a balance to the debit of the appropriation account, amounting to £349, and bringing the average pay-out for the season over all grades to 16.162 d. The average pay-out for the previous year was 16.091 d.

In common with other Northland dairy companies, Manngaturoto records a reduction in costs this year, the total charges to f.o.b. being 2.160 d. compared with 2.289 d for the 1938-39 season.

During the year the number of suppliers to the company decreased from 320 to 303. In snite of the decreased turnover and a difficult season, profits from the motor department exceeded £000. which the directors recommend to be placed to the reserve account.

At the beginning of the season the directors decided to institute a rebate on the stores department and fertilisers profits. Under this heading the sum of £367 was credited to shareholders.

The retiring directors, Messrs. D. A. Finlayson. E. Brown and J. Sterling, again offer their services.