COMPANY REPORT

Hokitika Guardian, 17 September 1937, Page 4

COMPANY REPORT

INTER-WANGANUI DAIRY COY. The annual report of the Inter-Wan-ganui Dairy Coy., Ltd, states: —Your directors submit to the shareholders the 29th annual balance sheet for the year ended 3(Jth June, 1937, and report a year’s successful operations. On the Ist August, 1936 the guaranteed price 12 J-Ibth. pence per pound wa§ announced hy the Government. This price was subject to a premium of one eighth of a penny per pound for butter grading 94 points and over. The butter exported—7233 boxes—graded 100 per cent finest and 81 per cent secured the premium. This attainment reflects credr it on the suppliers, manager and staff for the good work performed in the preparation and manufacture of cream into butter and show s that it is in suppliers’ own interests to supply the highest grade cream. Local sales of butter show a substantial increase. The Company has purchased a fifty-box-eapacity churn which will reduce manufacturing costs; also a boring plant so that suppliers may obtain a good water supply. Your representatives were invited to, and attended the sitting of the Executive Committee ok Agriculture in Greymouth and were assured that your Company would be retained as a manufacturing unit for South Westland—the time of zoning and division line subject to the northern factories deciding to amalgamate or otherwise.

Twelve pence per pound ha s been advanced on butterfat received during July, August and September, and eleven pence, on the * basis of finest grade, during the remaining months of the season, and with the bonus of two pence per pound provided for in the Appropriation Account brings the total for finest grade butterfat to thirteen pence per pound or an average payment of 12.984 pence per pound on all grades. On September 28th the Government announced the Guaranteed Price tor the coming season will he 18fd. The appropriation account shows a surplus of €4973/0/0 which your directors propose to distribute as follows: A further payment of two pence per pound on butterfat received during the season and payment of 3 per cent, interest on paid up capital. The retiring directors are Mr A. Sutherland, All* Geo. Manship and Mr P; S. Hansen; and the retiring auditor, Air R. AYild. All these gentlemen are eligible for re-election.