KAPONGA DAIRY COMPANY.

Hawera Star, Volume XLVIII, 1 September 1924, Page 9

KAPONGA DAIRY COMPANY.

ANNUAL REPORT. The twenty-sixth annual report and balance-sheet of the ivaponga Co-op. Dairy Company to be presented to the shareholders spates: —lhe year has Ween a most difficult one, owing to- the fluctuation in prices, and the large stocks accumulated in London. A sale of the early part of the season’s make of cheese was made, and this helped the position materially, ana your -directors are enabled 1 to announce that the pay-out over the season, based on estimates which are being justified by recent advices, will be Is did per lb butter-fat, after providing for depreciation and interest on shares at 4 per cent. Owing.to the continued illness of your secretary, Mr R. G. Cook, your directors appointed Mr J. Hesseli as acting-secretary late in the season. There has, therefore, been a delay in the publishing of the balance-sheet-which has been quite unavoidoble. The retiring directors are Messrs G. B. Hill and J. W. H. Gardner, who, being eligible, offer themselves for reelection. Mr H. A. Lennon offers his services again as auditor.

Statistics attached to the report show (figures for 1922-23 in parentheses) :

Lbs milk. —Used for butter-making, 616,709 (6,938,984); used for cheesemaking, 22,030.575 (16,999,219); total received, 22,647,284 (23,935,203). Lbs butter-fat. —Used for buttermaking, 28,787; add from cream purchased 2257, total 31,044 (266,094); used for cheese-making, 872,026 (669,296); total received, including cream purchased. 903,070 (935,390). Lbs milk to Ilb butter, 19 (21.9); lbs milk tCi lib factory cheese, 9.54 (&.45). Lbs factory cheese to 1 lb butter-fat (gross), 2.64 (2.69). Average test.—Year, 3.97 (3.91); milk for butter-making, 4.66 (3,83); milk for cheese-making, 3.95 (3.94); butter made, from each ncund of butterfat, 1.887 (1.925). Output.—Commercial: cheese n|adci, 1029 tons oowt 731bs (781. tons lOewt 9rlbs; whey butter made. 27 tons scwt /21bs (15 tens 9cwt S2lbsi; creamery butte,r made, 16 tons 9cwt 55lbs (141 tons 13cwt 171bs); expenses ..oer lb but-ter-fnt to f.o.b. (with depreciation), 4.93 d (4.2 d); proportion of v.nsnlted butter, nil.