ANNUAL REPORT

Hokitika Guardian, 22 August 1939, Page 3

ANNUAL REPORT

INTER-WANGANUI CO-OP. DAIRY' COY. The thirty-first annual report, states the quantity of butter manufacture,! was 275 tons Gcwt. 31bs., bcingna decrease of 36 tons. G cwt. 42 lbsv'on theprevious season. On account of -the new building not being completed, the supply for the months of August, September and October had to be sent to the Westland Co-Operative Dairy tin. Ltd , and the decrease in production;,this sea.; son is mainly due to tliis factf g, • The-aVoihVgb biittcr : "jfhulc- Inis been Vnair.'th'i'fied ’’alt '•t'T.yS points,! and this reflects great erddit oil" the - suppliers;.manager; and’ staff for tli'e taro taken in the'pro’paratibii of the cream .and the manufacture (if- such high grade butter. * Y l’he new factory and plant are valuable assets, callable of handling a much

greater supply than is being raqc-ivcu at present. It is hoped that shaitchokL: ers will do their best- to increase thfe output and thereby help to reduce costs. It was deemed advisable to paint the manager's and assistant s 'houses. This work has been can iod out bv the factory staff. ; *ti'

There is a balance in the appropriation account of £7030/8/2. The Directors recommend that this surplus bo distributed as follows :

... To -make a further payment of 2Jd per lb. on the' Jif IT season’s supply of butterfat, covered-by shares, £6057 14a lid; to pay a dividend of 3% oil all share capital paid up as at- 30th. June, 1930, £179 18s 2d; to repay id--per lb.butterfat to the bank. £526 15s id; to carry forward a balance of £272 4s lid; a total of £7036 8s 2d. - The average advance for the- season was 12.937 d per lb. butterfat over al 1 grades and the further payment of 2-Jd <2.875d) will bring flic season’s average up to 15.812 d per lb. The amount of £179 13s 2d for dividend on share capital is equivalent to .OS5d per lb. on the season’s butterfat. The stocks of butter on hand at 30th. June, 1939, were valued at the local market value according to grade.., The retiring Directors this year are Messrs G. E. Graham and W. Searlc, junr., and both offer themselves for reeiection.

Mr R. -Wild, the retiring auditor, offers himself for re-election.