AWAHURI DAIRY COMPANY.

Dominion, Volume 4, Issue 1198, 5 August 1911, Page 8

AWAHURI DAIRY COMPANY.

OPERATIONS OF THE YEAR. IBy TelesraDh.-SDOcial Correspondent.) , „ . . Palmerston August -1. Ihe following is the report to be presented to the annual meeting of the Awahun Dairy Company:—The passing of another year brings round again the time for our annual meeting, and the presentation to you of the coniiiany's accounts. These latter have been materially affected, by two things over which y° m ' directors had no control, viz.: in the first place, a somewhat unfavourable Ornish market, and. in the second place, a very sharp and early decline iu the milk supply, due to tho exceptionally tlry weather experienced in the latter" half ot the season. The cause of the lower prices this year in the. Home markets seems to have been, mainly, the imusu- ' large quantities of butter arriving trom other countries at tho same time as our own. Notwithstanding those conditions, however, the year's business cannot by any means be considered bad. Suppliers liavo Stuck well .'to the factory, and have had their reward in the very good average price of 11.41 pence per lb. for butter tat. Tho statement of accounts shows at a glance what tho coinpan} s receipts have been, and the ccst ot conducting the business. Of the iCISD los. 3d., net profits, , the sum of .£B7 Gs. will bo required if tho meeting decides to pay the usual G per cent, dividend to lhus leaving tho sum of Ao- j s . 3d. to be otherwise disnosed of. Messrs. N. Campbell and H. gent will retire from the board of directors, but both are eligible, and offer themselves, tor re-election. Tho balance-sheet (nuiiiutacturiug and marketing account) shows tliat tho stock of butter in hand on July 1 was valued at 0:83:2 3s. 3d., while, duro,l £?* r * ''"tter fat purchased totalled ,t10,175 Gs. sd. in value. Materials used in manufacture cost ,£,>l7 10s. 3d.; wages paid, d&ioO 10s.; maintenance, .6173: co , s ' s ' '*®32 'Js. 3d.; commission, .£lO7 4s. 3d. On the-credit sido. the mam item, of course, was proceeds from butter sold UIS.G3S 35.), while butter in ini °mi le 3() was valued at..£433 lis. 101 n g' oss profit is given at 0.W5 U(l. Oil the pront and loss account the principal items deducted from tho gross profit lust mentioned, were salarv fees and honorarium, .£185; insurance interest and exchanges, .£lO2 IGs. od.; sundries, ,£6B; depreciation, £lfio. The net Pro'fi is given at ,£139 13s. 3d.