A GOOD YEAR.

Press, Volume LXV, Issue 19734, 26 September 1929, Page 10

A GOOD YEAR.

CENTRAL CO-OPERATIVE DAIRY CO.

ANNUAL GENERAL MEETING.

The thirty-seventh annual general meeting of the Canterbury Co-operativa Dairy Company was held yesterday, Mr J. W. Kime (chairman) presiding over a large attendance. Before moving the adoption of the report and balance-sheet, the chairman briefly referred to the past year's operations as follows:

"At the commencement of last export season, indications pointed to a high of prices being obtained for. export shipments against the previous year. While satisfactory prices were realised for shipments arriving on the London market up to January, unfortunately prices declined fairly rapidly from February onwards. The average price ruling in January was 183s a cwt, February 1725, March 1665. From April onwards ' there was a slight improvement, and prices" remained fairly steady round about 175 a for the balance of the export season. In spite of the lower prices ruling when the company's major shipments arrived, it is gratifying to record that the average butter-fat payment for the year under review is |d higher than the previous year. "From the directors' report you will no doubt have read that the manufacture of butter during the past year established a record output in the history of the company,. viz., 1332 tons. "With the proposed final payment of lid per lb, the average price per lb of butterfat for finest grade cream is Is 5.80 d, as against la 5.05 d for the previous year. The total amount paid to suppliers including the proposed lid per lb final payment, will be £181,437, an increased payment of £19,758. over the previous year. Cash receipts for the year were £219,099. The average cream test for the year was 40.09 per cent. "While the average grade of butter for this season was slightly higher than the previous season, it still leaves room for improvement, but in this connexion the company must have the assistance of the suppliers in receiving cream in the best possible condition. Other countries are fully alive to the necessity of improving the quality of their product, and are leaving no stone unturned to accomplish this. "I am pleased to report that the cost of manufacture is lower than the previous year s cost. A further reduction has been broueht about in freight and insurance on export shipments, which will mean an approximate saving to the company of £3OO a year. "While each year the importance of herdtesting has been stressed, I am sorry to say that the dairy-farmers in Canterbury are rather lax in this matter. Where suppliers do not care to join up with the local a-fja-Testing Association, the company is willing to test suppliers' herds. One has only to read of the big strides made in the North Island in butter-fat returns per cow or per herd by the general adoption of herd-testing and use of top-dresine measures. "While the prospects for the new season at present appear quite good, it is difficult to forecast value because so much depends on circumstances. At the same time I think w» can look forward to a price equal to that returned last year." The balance-sheet showed a credit balance of £18,754 Is 2d, and it was recommended it should be dealt with as follows: To pay 7 per cent, dividend on subscribed capital at July 31st, 1929. To write £2024 off buildings, machinery, plant, etc. .... -. To make a final payment of lid per _n> on butter-fat supplied during, the year, which will be included in the September supply payment. . To pay a bonus on wages and salaries. The balance to be carried forward. The proposed final payment of ljd per lb makes the average price per lb of butterfat for finest grade cream Is 5.8 d, which is an increase of |d per lb'on the previous year. The report was adopted. The voting for the vacancies on the directorate resulted in Messrs H. E. Evans, Cr. Nairn, and J. W. Kime being elected. At a subsequent directors' meeting Mr 3. W, Kime was re-elected chairman for the ensuing year. Mr J. W. K. Ijawrence was re-elected auditor.

BURNSIDB MARKET.

(PRESS ASSOCIATION TELEGRAM.) DT7NEDIN, September 25. There was a general easing of values at the Burnside sales to-day, both fat sheep and fat cattle *being cheaper, and pigs showing a slight decrease on last week's rates. The entry of fat cattle numbered 260 .head, the bulk of which were good handyweight sorts. There was a shortage of good cows and prime heifers. The sale commenced with values about £1 below late rates, but after the first races had been disposed of there was a firming. In the later stages of the sale, however, prices fell back again. Best prime heavy bullocks made to £25, and good prime from £lB to £22. Prime heavy cows and good heifers were worth £ls to £lB. There was a small entry of good quality store cattle, which met with a keen demand and sold at satisfactory prices. The fat sheep penning numbered 2371 head, included -in which were many good prime heavy wethers. The proportion of medium sorts was very heavy. There was little life in the sale, and early It was seen that prime heavy sorts were from 8s to 4s cheaper, while ewes and medium-weights fell by from Is to 2s. There was' no recovery later in the sale. Best wethers made to 50s. and good prime from 40s to 455. Medium and lights ranged from 28s to 38s. Extra" heavy prime ewes made up to 43 s 6d, prime 33s to 375, and medium and lights 22s to 325.

The entry of new season's lambs was confined to two, the prices received being 41s and 48s, a distinct improvement on last week's rates.

There was a medium entry of fat pigs, and prices were in favour of buyers, but there was a good demand for store pigs.

JOHNSONVILLE STOCK SALE

[THE PBESS Special Service.] WELLINGTON, September 25. At the Johnsonville sale to-day an average yarding of exceptionally prime quality cattle, comprising mostly heavy-weight bullocks, was submitted. Competition was good, but prices showed a decline as compared with last week's rates of appproximately 20s a head. The sheep yarded were of good quality and a keen sale resulted, with prices on a par with late rate*. _ Spring lambs were in fair demand at prices considerably lower than last week's values. Extra heavy bullocks made £l9 to £2O. heavy bullocks £l7 to £l7 15s. medium bullocks £ls 10s to £ls 15s. cows £8 10s to £ll 158, cows. heavy £l2 to £lB 15s, heifers £ll 7s 6d to £l2. extra heavy wethers 43s 6d, heavy wethers 39s to 42s 3d, heavy ewes 34s 3d to 365, hoggets (good) 36s 6d, spring lambs 31s 6d to 345. WHITE STAR TOURIST SERVICES. (press associatioh telegram.) DUNEDIN, September 25. The annua] meeting of White Star Tourist Services, Ltd., was held to-day, the president (Mr W. Mockett) being in the chair and 25 delegates being present. The meeting approved of the setting tip, by the Government of a Ministry of Transport, and of the proposals embodied in the Transport Law Amendment Bill, the chief of which, the licensing of all transport motor services, was regarded as the only satisfactory solution of the existing difficulties.

MYER EMPORIUM

The ifyer Emporium, Ltd. (Melbourne), earned a net profit of £311,757 for the year ended July 3i s t. This compares with £330,765 in 1927-28. Preference shareholders received their usual dividend of 9 per cent., while the distribution on ordiaary scrip was reduced from 14 to 12 \ per cent.; other appropriations included £46,222 for income tax, and £25,000 to the reserve IUBu. and £53,960 was carried forward, compared with £49,584 brought into the accounts. *l* e directors state that business in Me!bou*« and Adelaide has made satisfactory prografs VfV A he end of «ke accounting period, ani tnat they look forward with confidence w a buoyant and successful trading year.

GERALDEVE DAIRY CO. ANNUAL MEETING. At the annual meeting «f the Oeraldine Co-operative Dairy 00, Mr 6. Gale presided. The annul report and balance-sheet were adopted. t The chairman said the output last year was nineteen tons more than the previous Tear. Increased expenses had been accounted for by the handling of extra material, and the cheese had cost more to make. The bank overdraft had been redneed to £6OO, £l4O haying been paid off daring the year. They had already sold a considerable portion of their output at a satisfactory price. The factory was in tip-top order, and their manager had agreed to stay with them for another year. Mr B. La Frentz referred to the sales of whey eream which had reached £197. This he considered very satisfactory. Taking the year through the expenses had been kept down to a minimum. Mr J. B. Steward also spoke en the financial position of the company, which he said was now very solid. He advised the directors to sell the remaining stock of cheese, as he was afraid the "country was in for a fairly rough spin." The factory was now in a position to take a great deal more milk without adding to its overhead expenses. The retiring directors, Messrs 8. Gale, B. La Frents, 7. J. Allen, and J. Thompson, were re-elected.

TBMUKA STOCK SALE. There was the usual yarding of fat sheep at the Temuka stock sale on Tuesday. The yarding of fat cattle was larger than usual, and included some nice quality steers, all of which were disposed of at satisfactory prices. Fat Ewes—Ten at 27s 6d, 14 at 24s 9d, 10 at 26s 9d 5 at 29s 6d. Fat Wethers —Twenty at 83s Bd, 9 at 86s 9d, 20 at 33s 3d, 8 at 37s 6d, 14 at Sis, 12 at 82s Id, 11 at 80s 9d, 11 at 82s Bd, 15 at 80s 3d, 14 at 30s, 18 at 85s, 22 at 30s lid, 4 at 325. Stores —Thirty-eight aged ewes and lambs (all combined) 16s Id, 19 four-tooth lambs with 23 lambs (all combined) 235, 1 ewe hogget 38s, 1 b.L ram 3Jgns, 43 ewes and lambs (all combined) 10s, 81 ewe hoggets 25s lid. Cattle—Fat cows £8 to £l6 15s, fat steers £lO 28 6d to £l9. yearling heifers to £4, empty cows to £6, yearlings £4, 18 months old steers £5 15s. Dairy catlta to £l2'. Pigs—Weaners 12s 6d to 18s, store 20s to 28s.