DAIRY ASSOCIATION.

Dominion, Volume 4, Issue 1204, 12 August 1911, Page 8

DAIRY ASSOCIATION.

-~::, .ANNUAL REPORT. • Tho."annual, report' of the N.Z. Dairy ■Association stales that, notwithstanding tho prolonged drought, tho association's output lias'increased. . ,-;Tho quantity of milk received during the season has been 152,-iM,!.'SGIb., and tho butter made 7,710,4701b. The butterfat quality of tho milk (averngo of all creameries};'has beon.3.(ffi7'per cent. Tho overrun has been 11.9 per cent. It ha 3 taken 23,GG21b. milk to make each pound of butter. ■ Tho skim milk test; (average of all creameries) has been O.'OIO per cent. Tho quality of tho association's butter has been again referred to' by tho London agents in tho 'highest :tcrnis: During the season the advances on .butti;r-fat. have been at the. rate of ltd. per lb. for August and Is. for .June. ' l ? or'the months September lo Slay inclusive, tho upset ad-vance-has been lOd/ per lb., with", a part of quantity-'lxmns added.thereto. ..Further quantity bonus Da.Vments to make up totals as .' per schedule' have' since been paid. The largest .quantity .bonus payment this year ha* been i SMlid. per lb. The sum ;of " .£10,483 Us. 3d. has been allocated .for the payment of a profit bonus of 2d. per lb. upon all butter-fat received during tho year., Provision has also been ni'aclo for the payment of a dividend of 0 per cent, upon capital paid Tip un June 30 upon shares allotted bej fore. March 31 last. Tho directors rccom--1 nieud this-payment,-which will absorb £1197. Os. Gd. On n butter-fat .basis the, total payments, to shareholders (inclusive. of dividend) for. the season for the largest creamery supply—beiug a net pay-i ment not subject to nnv deductions, skim milk being returned free—is 11 11-lGd. per lb., for tho usual season September to May inclusive. The average price (nil inclusive) payable upon tho wholo of the bnttpr-fst received by. the .association at nil of its creameries during the year will be .URz-per lb. not. Tho sum 1 of .£4359 6s. 8(1. has been expended upon repairs, renewals, and general inaiutenar.ee for tho' year. The value of tho company's property has been-well maintained. Depreciation at tho rato of 5 per cent, has been provided., as'usual, upon tho wholo property. _. This will absorb .£2777 7s. Tho -self-insurance fund, at the end of tho financial, year, was Tho reservo, fund is .£3213 13s. .