A PROSPEROUS COMPANY.

Bay of Plenty Times, Volume XXXV, Issue 5094, 19 August 1907, Page 2

A PROSPEROUS COMPANY.

The reiK>rt of tl>e Managing- Director and the balance'' 'sheet for the year ended June 30, 1907, laid before the annual meeting -of shareholders of

thevUay of Plenty Co-operative Dairy Association at Tc I'uke last week, must iorm very pleasant reading for the great majority of the farmers oi Te Puke, I'apamoa, Pongafcawo,, Paengaroa, Maketu, and Rangiuru. The directors and shareholders are to be congratulated on the -handsome profit of £1105 0s 4 d, made on the past season's oiwrations. This-J satisfactory position is all the more ! creditable when it . is taken into consideration that a large percentage of tho settlers in the districts named do not follow dairying-, but devote their energies to fattening! and grazing stock, whilst ot-hera who own splendid swamp country go in for flax-growing in preference to dairying or stock-raisiivg. On reference to the balance sheet w« fii«l that, the sum paid out for butterfat amounted' to £7926 2s ' lOd, which means all outside money brought iv for local circulation. The general ami working expenses forsuch a large couevrn— with one single exception— «re very reasonable and show that .extravagant^ is rtof countenanced by the manager and directors. The cost of fuel is the one item which presses at all heavily. We tindcrstaml that last season the

cost of coal to the Association- was as high as £2 5s per ton. whereas formerly it was only £1 10s per ton. We are led to believe that the increase jn the cost of coal was mainly brought about owing to the fact that scows were not available for conveying it from the North to this coast, and -as a ccnsequencc the increased cost of handling and haulage has to be paid for by the Company. We hope that the Association wiH be

more fortunate this season,: end Will bo able to make such arrangements with scow owners as will enable the directors to effect a saving on what is to tlvm a very heavy item. If we iviuvjiiber rightly the'-Hou. J: A. Millar recently exinvs.'-wl himself as

greatly pleased with tin. Auckland trading scows, and perhaps. his. expression may give sufficient energy

to boat owners to replace the vessels of this clasa .which have been lost during the last year or two. The chairman of the Company in his report says that the average grade for the season was 91.15, which is a splendid record when all the. circumstances are taken into consideration ; and, likewise, a feather i» the cap of the Association's manager, I Mr M. J. Stantcn, who also proved his ability as a first-class Dutterniaker by carrying off prizes at both ,the Auckland Spring and Winter. Shows. The shareholders must regard themselves as exceptionally fortunate in having the services of mcli a steady, industrious and capable manager as Mr Stanton ' lias long sineo proved himself to be. L.ust reason, suppliers received the vory satisfactory price of nearly SJtl per lb for their -butter-fat, whilst the toa*ance to the credit of the profit and less account is equal to almost another Id per Ib earaedt during the same period! The recommendation of the -directors that the preliminary expenses of £278 19s 5d should be written off ami also £300 for depreciation was a sound suggestion and was readily adopted by the meeting, as was also that suggesting- a b'ouus of id per 1b on butterfat supplied by. shareholders during the season. Owing to the twitter boom of last year dairymen will scarcely receive as high a price .this season for their butter, but at - the prices even thus early offering— and which are likely to improve— there is a fair margin of profit for all engaged in this great industry. We understand that the Bay of Plenty Co--operative Dairy Association is likely to receive increased support from fairmers this year,"" which is a matter for further congratulation. It is

by far the most important industry in the districts surrounding- it, and has been the means of adding con-

sideraWy to the selling value of every owner's land in the neighbourhood, whether -he is a supplier or a non-supplier. It has also 'been 1 the medium for circulating a sum of close on £11,000, and for these two

reasons is deserving oi the support of the fanning community from l'apamoa lo Tongakawa. We are pleased to be able to note the great progress made by the Association during the past - season, ami conclude by expressing the wish" that the new one upou which it entered to-day will show a corresponding increase in output when the chairman comes tc place his annual report and balance sheet before the shareholders in August, 1908.