TOTAL OF £31,000

Gisborne Herald, Volume LXXII, Issue 21801, 25 August 1945, Page 8

TOTAL OF £31,000

OICITU BUTTER SALES SMALL PRODUCTION FALL SEASON’S PAY-OUT 19.027 c! ■ Sales of butter by the Okitu Co-opera-tive Dairy Co., Ltd., during the year ended June 30, 1945, yielded an aggregate of just under £31,000, while commissions and profits on other activities under the heading of manufacturing and marketing brought the total to .just over the round figure. The milk department of the company added another £38,000 to the gross income of the company. Suppliers of bulterfat will have received, when all distributions are completed, a season’s average of 19.02 id. per lb., as against 17.14 Gd. per lb paid out during the last operating year. Farm costs allowance averaging 2.870 d per lb are included in the 1944-45 average pay-out. Cream collection costs, which amounted to ,700 d. per lb., were paid by the company, and if taken into account these would bring the average pay-out for the season to 19.803 d per lb; and suppliers also receive the benefit of dividends on capital at the rate of 4 per cent., which will add another ,134 d per lb to the aggregate received. The surplus from the manufacturing and marketing account for the year is £3327, and that from the milk department working account £434. The appropriation account started the year with a balance of £56 brought forward from the previous year, and thus £3BIB becomes available for distribution. The directors recommend the payment of a dividend of 4 per cent on paid up capital, absorbing £217, an additional payment of 2.125 d per lb on butterfat supplied, absorbing £3451, and the allocation of the balance to taxation with provision for carrying forward any surplus available. Season's Production 2091 Tons Butter manufacture for the sea ®° ! ? reached 209 J tons, a decrease of 141 tons as compared with the previous season. The falling-off is mainly attributable to poor seasonal conditions, though the man-power position had some effect upon production The milk department handled 475,GU0 gallons of milk for the year, an increase of 74,411 gallons on the previous year. A slight shortage of milk for all requirements was experienced during June and July, but nevertheless the department had a highly successful year. The Dominion-wide arrangement which came into effect on Maich 1 transferred the handling of source supplies of milk to a milk producers company as from that date, and the report expresses sincere appreciation oi the efforts made by the producers company to obtain sufficient supplies for all needs during a difficult period On the statistical side, the repoit indicates that 933,4551 b. of cream was handled in the factory, from which 389,8271 b. of butterfat was manufactured, with an average test ot ai -to. The previous year’s figures were respectively 1,037,1141 b. of cream 435.315 Fb. of butterfat, and 41.97 average grade of butter in the 1944-45 season was 93.918, as against 94.013 foi the previous year.