INCREASED OUTPUT

Gisborne Herald, Volume LXVIII, Issue 20636, 16 August 1941, Page 2

INCREASED OUTPUT

OKITU DAIRY COMPANY PAYMENT OVER 15.8 d Increased output and a higher average payment than the previous season are features of the annual report of the Okitu Co-operative Dairy Company to be submitted to the eleventh annual meeting to be held on August 26. The directors’ report states that after providing for depreciation the net surplus on the year’s working was £5032, of which £l3l would be distributed in the form of 4 per cent interest on fully-subscribed share capital, £4747 in additional payment on the basis of ljd on butter-fat supplied by shareholders, and £154 for taxation and to be carried forward. Of the ljd per lb. additional butterfat payment. Id had been paid out already. Over all grades, the average payment on butter-fat for the season is brought up to 15.803 d., compared with 15.789 d. for the previous season. Interest to be paid on shares equals .052 d. per lb. butter-fat,- and if this is added to the butter-fat payment this figure becomes 15.855 d. Butter manufactured during the season totalled 314 tons, and with cream sales added was equivalent to 328 tons, against 283 tons during the previous year, an increase of 45 tons, or 16.1 per cent. The season was particularly favourable, probably one of the best remembered, and the increased output also reflected the suppliers’ response to the Government’s request for higher production. “The position in regard to the final disposal of the coming season’s output is still obscure,” the report continues, “but nevertheless suppliers are urged to do everything possible to maintain the efficiency of their farms and the productivity of their herds in order to take the strain of post-war conditions when that time arrives.” Quality was well maintained, and of the company’s butter graded 94 per cent was classed finest. The average grade was slightly under the previous season’s, but that could be only expected with the hot summer and flush of feed. Directors retiring by rotation are Messrs. C. J. Hamilton and R. M. King, who are eligible for re-election.