KAIRANCA DAIRY FACTORY.

Dominion, Volume 1, Issue 303, 16 September 1908, Page 3

KAIRANCA DAIRY FACTORY.

The first annual report of the directors to be submitted' to .shareholders .of the. Kairanga Dairy Company • next Wendesday will state, among. other-things-:--"In presenting for your confirmation the first balance-sheet for the year ending-July 31, 1908,.,-wo ,have .to congratulate- members upon the -successful' termination of,; the operations ..of ...the, company - since its, formation. The operations;;of 'the company after registration- commenced' with- the purchase of the Kairanga Creamery-fromMessrs. Jos. Nathan and Co. Having no factory to handle our cream, it was at first proposed to sell it to the highest bidder, but, upon approaching the ■llongolea Dairy Company, they made an offer to work.the creamery as their own, until our factory was ready to deal with the cream, and to pay our suppliers the same price per lb. of butter-fat paid to their own suppliers each month. We considered the olfer a..good.one and accepted it, the result proving very" satisfactory to our suppliers. The, thanks of this ..'company are due to the Rorigotea Company for the manner in which the arrangements were carried out. • On November 23, 1907, the factory received the first supply'of milk, having been formally opened on November 18, 1907, by Mr. W. T. Wood, M.P. Our first factory manager, Mr.' T; C. Brash, carried on the work of the ccftnpany. most successfully until his resignation in. February of this year, due to; having accepted-a better position in -Wellington. Mr. G. F. Edwards succeeded, him.-.The result of the eight months actual work'of-' the' eom'pany has resulted in B. profit of £180 os. 3d., and we recommend that' a.' ..divident .of . 5 per cent, be paid .on all ■ paidrup' capital, and a bonus 'of one farthing, -per lb. be paid on butter-fat . supplied since November 23, 1907, by suppliers holding shares in. the capital of the. company, that £20 be written off preliminary expenses, and the credit balance of profit arid loss be carried to a reserve fund. Having shown that tho work can he carried on for tho aclvantago of suppliers, wo .think those suppliers who have hitherto refrained from becoming shareholders should apply'for shares at once, and thereby, strengthen the financial position of the company. V

The policy of consigning sent to Great Britain was adopted, and will be continued during the next, season. We have also a market in the Dominion, our brand having gained a good reputation here, and at Home. ' Suppliers . have received £6680 7s. 7d. during the year, £1724 7s. 9d. having been paid by the Itongotea. Dairy Company and £4955 19s. lOd. by this company. From August, to December, 1907, lOd. per lb. was paid for butter-fat;- January to April, lid. per lb.; ■ May, 10Jd.; June and July,' lid. per 1 lb. was paid. The average price paid by US was lOiJd. per lb. of butter-fat, and the bonus will'increase the price paid to lid. per-lb. 'The prospects for the coming season are good, and, with the loyal help of our suppliers', the .result for'.the year will, we aro sure, be satisfactory to all concerned. Messrs. 0. Collis and D. Collis aro the retiring ..directors, ' but are, eligible for reelection. ' - ■ ' '