THE RIVERDALE CO-OPERATIVE DAIRY FACTORY COMPANY, LIMITED

Hawera & Normanby Star, Volume LXII, Issue LXII, 8 June 1912, Page 13 (Supplement)

THE RIVERDALE CO-OPERATIVE DAIRY FACTORY COMPANY, LIMITED

This company is, next to the Eltham Company, the oldest 00-operative concern in Southern Taranaki, and at the _; present time has the largest supply of milk for any individual cheese factory, The secretary, Mr J. V. Wyborn, has been associated with the company since its inception, and for a number of years filled the dual office of director and sec- j retary. The company has sixty sup- | pliers, who own 3,500 cows, the area | held by suppliers being 6,800 acres. The largest individual cheque for a month's supply for the present season was £295, , the drawer of this milking 160 cows. J This season it is anticipated that the total payment for butter-fat will be at least Is 3d per lb. As showing how the value of dairy produce had affected the price of land in the neighbourhood 1 of the Riverdale factory, one of the suppliers stated thai in 1895 land could be purchased for £11 to £12 per acre. There was practically no movement until the year 1904, when the price had increased to about £15. In 1906 land that had been bought ten years previous for £11 10s per aci-e sold for £26. Land adjacent to the factory had risen in value in five years from £20 an acre to £60, and the opinion was expressed that it would rise still higher. Butter was manufactured at Riverdale for the first three months of the season, and cheese for the remainder of the year. The payments for milk for the current year would approximate £45,000. The output of the factory was generally sold on consignment. For the 1906-7 and - 1907-8 seasons, however, there was an outright sale, and the company secured a much higher price than if the butter and cheese had been consigned. The present season's output was also sold, and this year the buyers will reap a slight advantage. The co-operative store connected with the factory was opened eight years ago, and has resulted in a considerable saving to suppliers although shareholders were not called on to supply any capital, the original outlay being taken from the general fund. Following are some extracts from the company's arnmal reports and bal-ance-sheeis from the starting of operations: — The directors, in their first annual report, presented to shareholders, covering the period to August 22, 1895, stated that at the commencement of the season they had made arrangements to oonsign to London the output of cheese from the factory at a guaranteed advance of 4d f.o.b. Wellington, whicli would enable suppliers to be paid 3Jc per gallon for the whole season. The factory, during the. ensuing season, would be able to deal with a daily supply of 2000 gallons, which was the estimate for the height of the season. For the past season, 251,174 gallons of milk of Hlbs. had been received, which produced 272,1501b5. of cheese. The repor stated that the cheese was giving general satisfaction, account sales from London showing that it was realising the highest prices ruling for tho finest New Zealand cheese on the London market. The amount paid for milk was £3399 TSs 9d. and £4447 was received for cheese. ! The second annual report stated that -1190 shares had been issued, and that a reserve fund had been created. The prices obtained for the cheese and butter on the London market had been among the highest for the season. Owing to the low prices ruling for cheese, it had been deemed advisable to add a butter plant to the factory. Milk received for butter making totalled

23,140 gallons, which produced 11,160 lbs. of butter, the average price paid being 4Jd per gallon. Milk for cheese nakirg amounted to 314,364 gallons, arhich produced 325,5001b5. of cheese. ; 'Che poor quality of the milk compared . with last season caused a loss of over ( £200 to the Company: 3d per gallon > was paid oivt on account of cheese. The , sum of £3714 10s Id was paid out on account of milk. £4379 was received on | account of cheese and £489 on accotr *• ! o> butter. The wages for the year we=e j £322 8s 4d. j The profit and loss accost for the year ending August 22 1897, showed a surolus of £977, atter allowing ±,lb* - / ■ ,• aj--i«j^q „„ for depi'eciation. A dividend ol o pei »l. on fully-paid up shares was also dep , ~ .' n j n <?r qqi iq c qj of butter were made, sbb.yyl Los M were paid out on account of milk, the average price for butter-fat being 9*l, equal to 3.54 d. per gallon of 111b. Ye total quantity of milk received at the factory during the 1897-8 season was 5.085,6731b. The average test was _._ '-. iq/3 QO7IT, fi,,++ Qr^Q + -3.67, Prodwcmg 186,897Lb of?butgvfat for which the sum of. £6,008 4s 8d was paid, equalling 7.71 d... per lb. butter-' , . 01, 1 V* r -ii ti, fat, or 3.lid. per gallon - of ; .milk. The ~' x ;, j" ,■ , •-' >. ~ ~, directors regretted that t«e state ot the . , , . tt i Ti i i i cheese market at Home had been deplor- ", m . _ x , , j. 1. I able. The profit and loss account show--1 r r.ono i n r\j ' £j. 1 Ed a surnlns of £328 10s 9d .after al- , . * „ tt j £ i y• xlowing £/l 6s lid,for depreciation. ' "^ . , .. X it £4.152 was received from the sale of butter and £3,31 / for cheese | The fifth annual report the year ending August 21, 1899, stated that the prices ruling for cheese and butter m the Home markets had been very satisfactory, while the price for the winter make of butter had been low as conipared with previous years. The supply of milk to the factory had also been less As considerable loss had been sustained through insufficiency of space for cheesemaking, the contract had been let for enlarpng the factory. Milk received totailed 4,506i,0621b average test 3.66, producing 164 9641b of butter-fat. Suppliers received £6,137 8s 7H eaual to enoj n j. i ■?•' ey-lrtl " 8.90 d. per lb. of butter-fat A-- Hivi- , , I „ ""Mier rat. a aividend or b per cent, was dpplarpd on i. ~a vi * i. aeeiarea on shares. Value of cheese manufactured, ■OA 71Q- Vm-ffjif 7on £4,71-y, butter, £2,780-, wages amount--ed to £37- ri.

The price paid to suppliers for milk for the 1899-1900 season, the report stated, far exceeded the prices of any previous season. Milk received totalled 4,108,7431b5. The butter manufactured totalled 35,7731b5.; cheese, 311,5801b5. The past season opened well for both butter and cheese; the high prices for butter, however, were not long maintamed, but cheese remained at high value throughout the season. The total payments for milk were £6358 10s Bd, equalling 10.18 d. per lb. of butter-fat, The value of cheese manufactured was £6541; butter, £1410. The quantity of milk received at the factory for the year ending July 31, 1901, was 5,537,1151b5., from which 198,6371b5. of butter-fat were obtained. The butter manufactured amounted to 69,8581b5.; cheese, 362,2501b5. The price of the cheese this season averaged 8s per cwt. lower. The payment for milk amounted to £7449 11s, being at the rate of 9.002 d per lb. butter-fat, During this season a Linde refrigerating plant was ordered. A dividend of 6 per cent, was declared on paid-up shares. The wages for the year amounted to £507. The directors reported that a large expenditure had been necessary in enlarging the factory and making additions to plant and machinery during the 1901-2 season. A refrigerator had been installed. The supply during the season had increased by 23 per cent., while the payments to suppliers for milk represented an increase of 36 per cent. The milk received totalled 6,810,7011b5., from which were manufactured 284,0031b5. of butter and 'H.bs of cheese. The price realised for butter for the whole season averaged 10.039 d. per lb., net, f.o.b. Suppliers received 9.954 d per lb. for but-ter-fat, the total payment being £10,842 19s Bd. For the 1902-3 season the output of butter and cheese was, consigned to Messrs Lovell and Christmas, and the prices returner' ~~r cheese exceeded those of any previous season, having reached as high as 70s per cwt. The milk received during the year was 8,352,0111b5., yielding 315,5181b5. of butter-fat; 113,7101b5. of butter and 548,6401b5. of cheese were manufactured. Suppliers received £14,983 14s 9d, an average price of 11.4 d per lb. butterfat. The profit and loss account showed a surplus of £2427 7s 9d. The report for the season ending July 31, 1904, stated that there had been a remarkable slump in prices for both butter and cheese. £12,120 15s lid was paid out to suppliers, being at the rate of B£d per lb. butter-fat, Cheese manufactured amounted to 680,0321b5.; also 104,5741b5. of butter, from 9,597,5571b5. of milk, which produced 361,2481b5. of butter-fat. The eleventh annual report stated that during the year 8,774,604Tb5. of milk were received, the average test being 3.77 per cent., producing 331,2681b5. 'of butter-fat, yielding 380,5961b5. of butter. The sum of £12,529 10s lid was paid out to suppliers, averaging 9Jd per lb. for butter-fat. The wages for the year amounted to £528. The manufactures for the year returned £15,072. In the twelfth annual report for the year ending July 31, 1906, the directors stated that they anticipated a large increase in the milk supply during the coming season. During the past year 10,615,9431b5. of milk had been received, producing 397,4511b5. of butter-fat. The payment for the year was Is per lb. but-ter-fat, totalling £19.872 2s 7d. The value of cheese and butter manufactured was £25,401; £1090 10s 5d were paid in wages.

The thirteenth annual report stated that the turn-over of the Company had increased by"(B3 per cent, and the stores business had inereased-by nearly 40 per cen t. The milk received totalled 17,426,8921b5., yielding 678,2941b5. of butter-fat, from which were manufactured 1,636,0641b5. of cheese and 10,874 ib s . o f butter. Butter-fat was paid for lat the rate of 12.824 d per lb., absorbing general store for the year was £4,856. general store for the year was £4,858. Th e butter and cheese manufactured returned £41,728. s 16,138,8921b5. rf ■ . r£ ' •* ~ , lbs- oi butter-tat, fro m which were ' "T^*"^ »', °heeSe jlne value of cheese and butter manufac- ,_ , - tvr + ed Was £37 'Bf u and + £141« Paid ™ " was £5063 ™6 *T* " "iT^ .oST 190, 8: 9, SeaSo" + was "^J^'J *™ J" oWaUMd^^s of butter-tat. Butter manufactured total--64 4561bs cheese 1)443)2371bs & j ; v ' f M f n . Kfl _, ~ *at- ilie Sllm °r £34,055 6s 5d was paid .. ' , ito sxipphers on account of milk, and _ QQ o _ . ' £39, 095 was received on account of but- !, , , ~ , ~ ter and cheese. Goods sold at the store mi _ to( q +„ ««. fift to ±,sbbU. m, ~ ~ , , „ ~" Tne sixteenth annual report for the .. , T - • ._■ ___■ % , ~ y™r ended July 31, 1910. showed that rf m{^ ha& receiy . from obtained 64{) |of butter . fat . €hees6 manufacWd tota]]ed 1)414 40Qlbs . butt mm lbg The ent for bntter . fat was UQ5^ absorbing £32 -^ 17g gd Thi va]ue rf bntfcer chees6 manufactur . Ed wftg £39Q5? . wageg paid £12g5 gtoreg gold totalled £g5l() Durins the year ended July B1 mij 17j86 4.,3231b5. of milk were^ supplied, yielding 678 ,2081b5. of butter-fat. From were manufactured i i2 11,7261b 5 . of cheßS6 and 2 45,1941b5. of butter. The &monnt paid to supp i iers on acC ount of mflk was £33 7g2 4g 10d . Butter and t. j. jl v c nooonn v cheese to the value of £38,867 were c j. j m . '..j ,■ , , The price paid for butj. ■* m. ' xi. n nej ter-fat over the season was 11.95 d. »>.j i b T i lo qa i ps at the store amounted to *P-- me i?aies a^ me score amouniea to neoDi toon*.